July 7, 2020 / 3:05 PM / a month ago

No quotes on Nigeria's official FX market for second session

ABUJA, July 7 (Reuters) - No quotes for the naira were available on Nigeria’s official market for the second consecutive session on Tuesday, Refinitiv Eikon data showed, after the central bank last week depreciated the currency at an auction.

The central bank, Nigeria’s main forex supplier, asked lenders on Friday to bid for dollars at 380 naira per dollar, 5% above its official rate, in a sign it wanted to unify its multiple exchange rates.

The naira traded at 387.70 on the over-the-counter spot market, widely used by investors and importers, while it was quoted weaker at 460 on the black market. (Reporting by Chijioke Ohuocha Editing by Gareth Jones)

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