Nigerian naira falls to new record low of 999 per dollar on official market

LAGOS, Oct 19 - Nigeria's naira hit a new record low of 999 per dollar on the official market on Thursday, Refinitiv data showed, in line with weakness on the parallel market as dollar shortages continued to put pressure on the currency.

The naira has been in free-fall on the unofficial market, where it trades freely, which worsened after currency restrictions were lifted on the official market in June. On Tuesday, it slumped to 1,100 to the dollar on the parallel market, and 980 per dollar on the official market, Refinitiv data showed.

The central bank has promised to intervene in the foreign exchange market occasionally to boost liquidity.

Singapore Singapore Latest News, Singapore Singapore Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Nigerian naira hits record black market low of 1,100 per dollar -abokiFxMarket News
Source: KitcoNewsNOW - 🏆 13. / 78 Read more »

Stocks slip, yields rise as earnings season ramps up: Stock market news todayMiddle East tensions are weighing on markets in morning trade on Wednesday.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Stocks slip as earnings ramp up, yields rise amid Mideast developments: Stock market news todayMiddle East tensions are weighing on markets in morning trade on Wednesday.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Stocks slip, oil jumps as hospital blast fans Mideast fears: Stock market news todayMiddle East tensions are weighing on markets in morning trade on Wednesday.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

US futures fall, oil jumps as hospital blast fans Mideast fears: Stock market news todayMiddle East tensions are weighing on markets as tech results help earnings season hit its stride.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Cottage sellers get the news - the market has shifted downwardSeptember was a surprisingly brisk month for sales after a sluggish spring and summer, say real estate professionals
Source: globeandmail - 🏆 5. / 92 Read more »