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The Central Bank of Nigeria intervened for a second day on Tuesday to sell U.S. dollars into the interbank market after floating the naira failed to attract trading between banks due to liquidity concerns, traders said.
A total of $31 million, sold between 282 and 285, was done around 1200 GMT, which traders said was intervention by the central bank. The interbank market quoted total traded volumes of $73 million on Tuesday.
The naira firmed to 281 after the dollar sales, recovering from a low of 287 it touched earlier, but it was quoted at 284 around market close.
