Lagos - In a bid to save the naira from further decline in the foreign exchange market, the Central Bank of Nigeria (CBN) has offered to sell $600 million at its forex auction held twice a week.
The amount is the highest the apex bank has offered in the last two years to shore up the value of the ailing naira, reports Daily Trust.
The amount is $200 million higher than the $400 million previously offered by the bank at auctions.
However, despite this huge increase, the naira only eased slightly by 0.25 percent to N162.60 against the dollar at the interbank market on Monday.
Read more at Daily Trust.
For the latest on national news, politics, sport,
entertainment and more follow us on Twitter and
like our Facebook page.