Nigeria’s naira slipped on Wednesday 10th December, 2014 then held its ground in early trades against the dollar, after two international oil companies sold the greenback to fund their local operations, dealers said.
The unit was trading at 183.23 naira to the dollar at 0836 GMT, after it opened at 183.20, down 0.3 percent from its previous close.
Dealers said French oil firm Total sold $16 million to buy naira for its local business, while Shell sold an undisclosed amount of dollars to boost liquidity.
Source: Reuters