The Central Bank has spent $380 million in two days defending the naira, after it conducting special forex interventions to shore up the local currency Reuters reports. The Interbank rate equally closed at N199.87 piling more pressure on the banks efforts as demand continue to soar. The CBN has used several methods in its hope to stop the Naira from sliding but demand for forex continues to rise unabated pulling the value of the naira further. The Naira at the interbank was trading for about N211 when we last tracked it at midday.
