Naira hits all time low against dollar

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The naira is the currency of Nigeria.

Naira was quoted at an all-time low of 412 per dollar on the parallel market on Friday as a dollar shortage persists, traders said.

According to New24, traders said some bureaux de change operators have been finding it difficult to access their forex account and get dollar supply after the central bank suspended nine commercial lenders from the market, putting further pressure on the local currency.

On Thursday the naira closed at 409 per dollar on the parallel market.

On the interbank market it traded at 315 compared with 305 the previous day.

Agency report

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