Friday, July 22, 2016

Video - Naira falls to an all time low

The Nigerian local currency has fallen to an all-time low against the U.S. Dollar. The Naira has passed the 300 mark for the first time. Last month, the central bank lifted its peg on the currency to allow it to trade freely on the interbank market. Nevertheless, the Naira fell 5.4 percent against the greenback to hit a record low of 309 in early trade on Thursday, following dollar supply shortages.

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