Tuesday, 2 December 2014

Naira Closes At Record Low Of 184.10




Nigeria's central bank sold an undisclosed amount of dollars to lenders on Monday to try to halt the slide of the naira currency, but dealers said it was not sufficient to lift it, Reuters reported.

The unit closed at a record low of 184.10 naira to the dollar, 2.9 percent weaker than its previous close on Friday.

The naira had initially weakened to an intraday low 184.42 before central bank intervened, dealers said, adding that oil companies -- Mobil and Eni also sold a combined $51 million, while Shell sold an undisclosed amount of dollars.

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