Nigerian naira touched an all-time low of 167.40 against the US dollar in interbank market on Monday, before closing at 164.30.
|||Nigerian naira touched an all-time low of 167.40 against the US dollar in interbank market on Monday, before closing at 164.30.
The Central Bank of Nigeria (CBN) failed to meet all the demand for dollars at its bi-weekly auction, prompting the sell-off. CBN sold $400 million at 156.91 naira to the dollar, short of the $736.94 million demanded and at weaker levels than at the official window last week.
The CBN is holding an emergency monetary policy committee meeting on Monday. Announcements are expected around 17:30 Sa time. - Reuters
Source: http://www.iol.co.za/nigerian-naira-hits-fresh-low-1.1154091
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