No quotes on Nigeria's official FX market after currency weakened at auction - REUTERS
ABUJA, July 6 (Reuters) - No quotes for the naira were available on Nigeria’s official market on Monday after the central bank allowed the currency to weaken 5% at a retail auction in a move to unify the currency’s multiple exchange rates.
Currency traders refused to quote prices for the naira amid confusion about the impact of the central bank’s adjustment.
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 of 360. (Reporting by Chijioke Ohuocha; Editing by Hugh Lawson)