Naira eases on official market after CBN dollar sale

Nigeria's central bank sold the dollar on Monday at its highest level on the official interbank market since August, traders said, pushing down the naira.

The local currency fell to 306 per dollar from the 305.50 level it has traded since last year. Traders said the central bank intervened at 305.50 on Monday and then commercial lenders resold dollars at a 0.50 naira margin. A total of $6.25 million was traded.