Central Bank of Nigeria (CBN) asked for bid-offer quotes from currency traders, Monday as it sold dollars on the interbank market to boost liquidity, traders said.
After abandoning the naira’s 16-month old exchange rate peg a week ago, the central bank sold dollars at an auction to clear a backlog of demand and keep markets active.
Currency traders said they had tightened the differential between bids and offers to 0.5 naira from one naira set when the currency was floated last week.
