Nigeria: Naira Snaps Gains On Reduced Dollar Supply

7 February 2013

The naira weakened, snapping its gains after the Central Bank of Nigeria (CBN) sold the lowest amount of the U.S. currency in two weeks at an auction yesterday.

The local currency fell as much as 0.4 per cent and traded 0.1 per cent lower at 157.39 per dollar according to data compiled by Bloomberg.

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