Friday, 6 February 2015
Nigeria central bank intervention lifts naira marginally
Nigeria's central bank sold an undisclosed amount of dollars on Friday to boost interbank forex market liquidity and prop up the naira.
The central bank has been intervening almost daily in the interbank market since the start of the year. The naira has suffered as falling oil prices weaken Nigeria's economy, causing foreign investment to dwindle.
The unit, which opened at 193.60 naira, firmed to 190.80, lifted by the intervention. It quickly fell back to 193.40 by 1239 GMT.
The naira closed at 192.70 on Thursday.
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