Nigeria's central bank announced new rules on Friday requiring currency dealers to put naira in their accounts at the bank two days before bidding in its forex auctions. Such a move, dealers say, was unlikely to stop the local currency from weakening.
Nigeria has been selling dollars directly to lenders to prop up the naira, which has lost 2.9 percent this year as the US Federal Reserve begins reducing its stimulus, which has led offshore investors pulling money out of local bonds. The
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