The Central Bank of Nigeria (CBN) auctioned dollars at N162.50 at its official forex window, outside its preferred band of 150-160 and ahead of a key interest rate decision on Tuesday.
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It the second time in a row it has auctioned the currency outside a band it burst out of in May. It auctioned the greenback at 158.41 to the dollar at its previous session.
The naira, which is down 9 percent this year, hit a record low at the interbank window on Monday on concerns that a slide in global oil prices could undermine the central bank’s efforts to keep defending the currency, dealers said.
