Nigeria's naira gained slightly on the second day of trading without a peg. The unit fell to a record low of 286.50 in early trade but recovered slightly to close the day at 283.50. The central bank spent more than 4 billion dollars on Monday to clear pent-up demand for foreign currency. The naira started trading at 255 to the dollar on Monday but ended with 530 million US dollars being traded at 280 to the dollar among 21 banks.
