Naira weakens to 307 at official interbank market

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Nigeria’s central bank on Monday weakened the naira marginally, selling dollars at 307 naira each for the first time on the official interbank market, traders said.

The bank has sold $500,000 almost on daily basis to alleviate dollar shortages on the currency market at a rate which has hovered at between 305 naira and 306 naira for months.