ABUJA, March 20 (Reuters) - Nigeria's central bank has
converged the forex rate for exchange bureaux with the
over-the-counter spot market quoted by foreign investors after
it weakened the naira to 380 naira for retail traders from 360,
the head of the bureaux association said.
This week, the government cut fuel prices in Nigeria,
assuming a forex rate of 360 on the official market, which it
expects to use for converting oil proceeds for public revenues,
a central bank official told Reuters.