The naira shed almost 1 percent in early trade on Tuesday amid a shortage of liquidity, after the market soaked up a central bank intervention on the previous day that was not sufficient to quell demand for dollars, dealers said.
The currency traded at 184.28 to the dollar at 0850 GMT, having opened at 182.60.
On Monday the central bank sold $199.9 million at 168 naira at its regular forex auction, lower than the $289 million it sold at the last auction a week ago, dealers said, pushing additional demand for dollars to the interbank market.
Reuters
