Nigeria’s naira hits record low of 412 to dollar on parallel market – traders

A trader changes dollars with naira at a currency exchange store in Lagos February 12, 2015. REUTERS/Joe Penney

LAGOS (Reuters) – Nigeria’s 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.

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.

(Reporting by Oludare Mayowa)

 

9News Nigeria TV

About 9News Nigeria 13426 Articles
9News Nigeria is Nigeria's favourite news source. For Authentic, Unbiased News on Politics, Business, Sports, Technology, Entertainment and Lifestyles, Health, Nollywood, Crime and Investigations, Family and Relationships, Inspirations .. and much more. For Latest News from Africa and around the world, 9News Nigeria is your best source. WhatsApp +2348115805632 Email: info@9newsng.com Facebook: www.facebook.com/9NewsNG | Twitter/Instagram: @9newsng