LAGOS May 8 The Nigerian naira traded at about
400 to the dollar in deals for investors on Monday, traders told
Reuters, two weeks after the central bank allowed investors to
trade the currency at market-determined rates.
Trading sources said investors were demanding rates above
400 naira per dollar while locals were quoting rates as low as
The sources said traders held a conference call last Friday
with the market regulator FMDQ OTC Securities Exchange to
discuss the wide range of quotes on the naira for investors,
although the meeting did not produce any resolutions.
(Reporting by Chijioke Ohuocha; Editing by Hugh Lawson)