Business Naira Hits All Time Low Against Dollar

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LequteMan

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The Nigerian naira for the second time in ten days has hit an all-time low against the dollar.

The naira on Friday traded at a new low of 260 to the dollar among most retail money exchange operators on Friday as against 255 on Thursday.

On the official interbank market, it traded at 199 at 1227 GMT, close to a rate at which it has been pegged since February.

It was caused by a scarcity of dollars following CBN's behaviour towards Bureau de Change operators.
 

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