Naira Currency at new low on unofficial market, cenbank rations dollars

The bank cut the amount it sold to each of the 2,270 retail money exchange brokers that participated in Wednesday's weekly sale to $10,000, down from the $30,000 each it sold last week, Aminu Gwadabe, the head of Nigeria's bureaux de change association told Reuters.

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A trader changes dollars with naira at a currency exchange store in Lagos February 12, 2015. REUTERS/Joe Penney play A trader changes dollars with naira at a currency exchange store in Lagos February 12, 2015. REUTERS/Joe Penney (Reuters)
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Nigeria's naira fell 1.5 percent to a new low of 265 to the dollar on the unofficial market on Wednesday after the central bank rationed dollar supplies this week, traders said.

The bank cut the amount it sold to each of the 2,270 retail money exchange brokers that participated in Wednesday's weekly sale to $10,000, down from the $30,000 each it sold last week, Aminu Gwadabe, the head of Nigeria's bureaux de change association told Reuters.

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