Naira falls to its weakest in 3weeks

Channels Television  
Updated November 14, 2012

At the currency market, the Naira capped its biggest three-day retreat in a month as importer demand for dollars increased on reduced oil company foreign-exchange sales in the interbank market.

The nation’s currency slipped less than 0.1 per cent to N157.875 a dollar.

The Naira has slipped 0.5 per cent in the past three days, the worst performance since October the 9th.

The Central Bank of Nigeria (CBN) sold $150 million at its foreign currency auction yesterday, while the regulator sold $79.9 million at its two scheduled auctions last week.