CBN Sells Dollars to Boost Liquidity

Nigeria's central bank sold dollars on Thursday to boost liquidity and help the naira to strengthen against the greenback, traders told Reuters.

The central bank asked some traders to bid for $1.5 million each, they said, adding that the bank had been selling hard currency since this week. A total of $6.27 million traded on Thursday.

The naira, which opened at 320 per dollar, closed at 310 on Thursday. It touched an all-time low of 350 on Tuesday.