Nigeria Auctions $250M Forex

Nigeria has auctioned $250 million of foreign currency on March 2, 2011, Bloomberg reports. The Abuja-based central bank sold dollars for 150.60-150.81 naira each.

The marginal rate, which is also used as the prevailing exchange rate, was 150.71 naira. Lenders had demanded about $342 million of forex.

Click here for the story from Bloomberg.