The official exchange rate also dropped by 10 kobo to N155.8 from N155.9 per dollar at the bi-weekly foreign exchange auction conducted by the Central Bank of Nigeria (CBN), yesterday. The apex bank offered $150 million while it sold $150 million.
On the international scene, the euro strengthened from a seven- week low against the yen as Spain's bonds climbed after a board member of the European Central Bank indicated it may buy the nation's debt to reduce borrowing costs.
Europe's shared currency gained against the dollar after Italy sold 11 billion euros ($14.4 billion) of bills, meeting the target for the auction. The yen weakened against all but one of its 16 most-traded peers The dollar declined as the Federal Reserve prepared to release its Beige Book regional business survey.
"The euro is recovering as risk, overall, is getting a little bit better," said Brian Kim, a currency strategist in Stamford, Connecticut, at Royal Bank of Scotland Group Plc.
"It's all about the peripheral spread-widening concerns. They're still at pretty high levels, but it's a slight moderation, so that's helping the euro recover a little bit."
The euro advanced 0.5 percent to 106.04 yen at 11:30 a.m. New York time, after falling earlier to 105.45 yen, the weakest since Feb. 22. Europe's shared currency rose 0.2 percent to $1.3110, after reaching $1.3033 on April 9, the lowest since March 15. The yen declined 0.3 percent to 80.90 per.
The British pound rose the most this month against the dollar after an industry report showed retail sales increased in March, boosting the appeal of U.K. assets.
Sterling advanced for the first time in six days against the yen as European stocks and Spanish bonds rallied, easing concern the region's debt crisis is worsening. Gilts fell as the retail-sales data added to signs the U.K. economy is improving, damping demand for the safety of government debt.
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