Business Naira Watch: Tracking Nigeria's Currency [Day 3]



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Nigerian Naira steady against the United States dollar on the third day of the peg off regime of the Central Bank of Nigeria.

Related: Naira Watch: Tracking Nigeria's Currency [Day 2]

Day 2 closed at N284.50


Today Open: N282

High Rate: N286

Low: N280.50

Close: N282.50

The central bank intervened on Tuesday to sell dollars at the interbank market after floating the naira failed to attract trading between banks due to liquidity concerns, Reuters quoted traders as saying.

A total of $31m, sold between N282 and N285 per dollar, was done around 12pm, which traders said was an intervention by the central bank. The interbank market quoted the total traded volume at $73m.