July 20 (Lagos) - The Naira weakened slightly to N 161.65 after rise in demand for US Dollars from Oil companies. Even an increase in Nigeria's Excess Crude oil account as well as increased government revenue from oil proceeds failed to strengthen the Naira.
Central Bank of Nigeria sold $ 500 million at its bi-weekly auctions this week. There were other major oil sales from some oil companies. These Dollar sales provided some liquidity in the market.
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BullishINTERNATIONAL BREWERIES PLCDANGOTE CEMENT PLCUNITED BANK FOR AFRICA PLC.
BearishSOVEREIGN TRUST INSURANCE PLCN.E.M. INSURANCE CO. (NIG.) PLC.LAW UNION AND ROCK INSURANCE PLC.
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