Nigeria's naira eases despite central bank dollar sales

LAGOS: Nigeria's naira eased against the U.S. currency on Tuesday despite the central bank selling more dollars the previous day at its forex auction, due to strong demand for the greenback, dealers said.

The central bank sold $249 million at 168 naira to the dollar, at its twice-weekly auction on Monday, dealers said higher than the $200 million it earlier offered. The bank has been selling the dollar at 168 naira since after it devalued the currency. But the interbank market has traded lower.

The naira, which opened at 182 to the dollar, hit 184.50 shortly after the interbank market opened. The naira closed at 181.20 to the greenback on Monday.