The Central Bank of Nigeria has stopped the sale of dollars to some categories of importers at its twice-weekly regulated foreign exchange market in order to save the naira from falling.

The move is meant to also reduce the pressure on the naira amid falling oil prices and perceived dollarisation of the economy, according to industry analysts.

In a circular released on Thursday, the central bank specifically said it would no longer sell dollars to importers of electronics, finished products, information technology equipment, generators, telecommunication equipment and invisible transactions at its Retail Dutch Auction System forex market.


According to the directive, the importation of the listed items will now be funded at the interbank forex market only.........http:///1orsGkJ

Is that a sinking or a rise if the rate goes below N170? I guess you meant to say sinking beyond or falling above N170. Better still, use rise and fall to express the rate fluctuation below or above N170, like rise above or fall below N170.