November 18, 2014 / 1:49 PM / 5 years ago

Nigeria's naira closes at new low despite central bank intervention

LAGOS, Nov 18 (Reuters) - Nigeria’s naira currency closed at a new low of 173.35 on Tuesday despite further central bank intervention to prop it up, dealers said.

The central bank auctioned $3 million each to commercial banks, removing a cap on the margins the lenders can make when selling the dollars on to customers, dealers said.

The naira closed at 173.20 on Monday. (Reporting by Oludare Mayowa; Writing by Chijioke Ohuocha; Editing by Bate Felix and John Stonestreet)

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