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Naira weakens on official market after cenbank dollar sale -traders
March 22, 2017 / 1:22 PM / 8 months ago

Naira weakens on official market after cenbank dollar sale -traders

LAGOS, March 22 (Reuters) - Nigeria’s central bank weakened the naira to 307.75 per dollar on Wednesday after selling $1.5 million on the official market, to narrow the spread with the black market rate, traders said.

The naira’s rate on the official market now trades at around 24 percent spread from the black market rate, which firmed to a seven-month high on Wednesday.

The currency was quoted at 307.50 on the interbank market on Tuesday. (Reporting by Chijioke Ohuocha; Editing by Alison Williams)

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