The Central Bank of Nigeria (CBN) intervened in a special forex sale on Friday to boost liquidity on the interbank market and strengthen the naira, a dealer at a major bank told Reuters.
Read also: Boko Haram attacks village in Chad as revolt spreads
Two large sales were done at 198.50 naira to the dollar, totalling $40.8 million, Thomson Reuters data showed.
Trading on Nigeria’s foreign exchange market was delayed until after 10 a.m. on Friday to allow dealers to submit demand for dollars to the central bank.
Join BusinessDay whatsapp Channel, to stay up to date
Open In Whatsapp
