Naira Quoted 18% Weaker at Investors' FX Window

Nigeria naira was quoted 18.3 percent weaker for portfolio investors on Tuesday compared with the interbank rate, a day after the central bank said it would allow investors to trade the currency at market determined rates.

The naira was quoted at 374.25 per dollar on the new foreign exchange trading window introduced by the central bank on Monday for investors, data on market regulator FMDQ OTC Securities Exchange showed.

The naira was quoted at 305.95 to the dollar on the spot interbank market and 385 on the black market.