Thursday, July 5, 2007

Nigerian naira slips against dollar on liquidity ease

(Reuters) - The Nigerian naira slipped to 127.25 to the greenback on the interbank market on Thursday from 127.20 on Tuesday on a slight easing in naira liquidity in the market, traders said.

The central bank reopened its repo window on Thursday to allow retail banks that required cash borrow to ease the tight liquidity that had forced them to sell their dollar holdings for the naira earlier in the week, dealers said.


Read more at Reuters Africa

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