Nigerian naira hits record black market low of 1,100 per dollar -abokiFx

ABUJA, Oct 18 - Nigeria's naira hit a record low of 1,100 per dollar on the black market on Wednesday, online platform abokiFX showed, a day after the currency hit a new low on the official market due to persistent dollar shortages.

The naira has been in freefall on the unofficial market, where it trades freely, which worsened after currency restrictions were lifted on the official market.The central bank has said it will intervene in the foreign exchange market occasionally to boost liquidity, after last week ending an eight-year ban on some items that were restricted from accessing dollars on the official market.

Last month, the currency slid past 1,000 naira per dollar on the black market and continued to weaken as excess dollar demand is funnelled into the informal market from the official market.

Österreich Neuesten Nachrichten, Österreich Schlagzeilen

Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.

Pickering Real Estate News and Housing Market UpdatesStoreys covers the latest on the housing and real estate markets in Toronto, Vancouver & across Canada. Get the latest real estate news.
Herkunft: storeyspub - 🏆 16. / 74 Weiterlesen »

Vancouver Real Estate News - Latest Housing Market CoverageStoreys covers the latest on the housing and real estate markets in Toronto, Vancouver & across Canada. Get the latest real estate news.
Herkunft: storeyspub - 🏆 16. / 74 Weiterlesen »