L
LequteMan
Guest
Nigeria - The naira has hit another record low to the dollar at the black market following continued scarcity of the greenback.
The naira yesterday exchanged at 240 for a dollar at the black market.
A trader in Lagos, Shehu Aliyu said that the unprecedented slump was as a result of the scarcity foreign exchange that hit banks and Bureaux de Change in the key markets of Lagos and Abuja.
This is the first time the naira dropped this low against the dollar. On Thursday the naira exchanged at 237 to a dollar before the end of trading yesterday the currency dropped by N3 in Abuja.
The official rates at the interbank market however remains the same.
The naira yesterday exchanged at 240 for a dollar at the black market.
A trader in Lagos, Shehu Aliyu said that the unprecedented slump was as a result of the scarcity foreign exchange that hit banks and Bureaux de Change in the key markets of Lagos and Abuja.
This is the first time the naira dropped this low against the dollar. On Thursday the naira exchanged at 237 to a dollar before the end of trading yesterday the currency dropped by N3 in Abuja.
The official rates at the interbank market however remains the same.