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By Chijioke Ohuocha
ABUJA, June 18 (Reuters) - Nigeria's naira opened weaker at
385 per dollar for the second day in a row, but it recovered to
361 naira on the official market after two trades, data from
Refinitiv Eikon showed.
The official market, backed by the central bank, traded in a
similar manner on Wednesday, where it closed at 361 after
falling 6.2%.
Nigeria, Africa's largest economy, has operated a multiple
exchange rate regime used by the central bank to manage pressure
on the naira. But dollar shortages have plagued the economy
after the coronavirus-induced oil price crash slashed government
revenues and weakened the local currency. Finance Minister Zainab Ahmed said this week the country
would seek to unify its multiple exchange rate regime to
generate more local currency from its dollar inflows and manage
the rate in a sustainable manner.