Naira Falls Again At The Interbank (29/1/2015)

Nigerian naira shed 1.64 percent to close at 189.10 against the greenback on Thursday, despite dollar sales by the central bank and oil companies, dealers said.

The naira traded at around 191 on Thursday, prompting the central bank to intervene, which helped lift it to 185.20. But it then finished weaker compared with its close of 186 on Wednesday after demand surged.

One dealer traded the naira at a one-off rate of 194.10 during the midday session.

Dealers said Royal Dutch Shell had sold an undisclosed amount of dollars on Thursday, adding that liquidity from state oil company NNPC’s $350 million sale on Wednesday was still in the market.

Source: Reuters