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Nigeria naira hits new low, cbank moves in to boost liquidity

Nigeria's naira tumbled 4.3 percent to another record low against the dollar on Friday as the central sold dollars to try and boost liquidity on the interbank market, traders said. On Friday a total of $12 million traded on the interbank market at an average rate of 290 naira, with traders attributing the sale to a central bank intervention. "The naira is weaker because of liquidity," one trader...
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Added July 15, 2016
from Yahoo Nigerian News