ABUJA, Nov 30 (Reuters) - Nigeria's central bank injected
$323.5 million and 17.9 million Chinese yuan ($2.5 million) into
the currency market on Friday in an effort to keep it stable and
prevent shortages.
A central bank spokesman said the dollar intervention was
for agricultural machinery and industrial raw materials, while
the yuan was for yuan-denominated letters of credit.
He added that the bank would continue to ensure adequate
liquidity in the market.
Traders have said importers are not willing to buy the
dollar above the current range, which is partly helping to keep
the naira stable as liquidity dries up from foreign inflows due
to a fall in debt yields.
In the over-the-counter market the naira NGN= was quoted
at between 362 and 362.50 this week, holding within this month's
range. The currency is quoted at 307 on the official market,
supported by the central bank.