The naira opened down at 189.45 to dollar, after closing at a record low previous session, despite central bank’s interventions to prop up the naira.
The central bank left interest rates on hold at 13 percent on Tuesday and maintained tight liquidity to support the naira. The naira closed at 189.20, a record low, before the central bank decision was announced.
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Nigeria’s currency market delayed its opening session on Wednesday, as dealers met to discuss instability in the naira and how to improve liquidity, they told Reuters.
