CBN sells $6m to banks @N304.75

The Central Bank of Nigeria sold about $6 million to commercial banks on Tuesday, according to information from Reuters. 

This comes a day after announcing a new forex policy. The Central Bank typically sells about $1.5million a day. 

Banks are now expected to sell the forex at not more than a 20% premium. The bank is also set to pay about $500 million in forex forwards.