The naira traded at 281.75 to the dollar at the interbank market on Friday, June 24, on volumes of $28 million, which traders attributed to the Central Bank of Nigeria, CBN’s intervention.
The apex bank sold dollars on the interbank market for the fifth consecutive day to ease dollar shortages after it floated the currency earlier this week, traders said on Friday.
“There’s still a lot of demand with no liquidity,” one trader said, adding that it was not clear for how long the bank would continue to sell dollars on the interbank market.
The interbank market, which is now the single and only exchange window as stipulated by the Central Bank, opened at 0800 GMT with no activity for more than three hours.
RT @SmileyEvents_: Naira Trades At 281.75/$ As CBN Sells Forex Fo Fifth Consecutive Day https://t.co/hjaPcBICes https://t.co/3nR4ScYAIT