Nigeria naira eases to new low of 382.73 per dollar on over-the-counter spot market - REUTERS

MARCH 25, 2020

ABUJA — Nigeria’s naira fell to a new low of 382.73 to the dollar on the spot market on Wednesday after the West African country last week depreciated its currency rate on the over-the-counter market.

The central bank moved the interbank currency rate to 380 on Friday, from the previous 360. It subsequently adjusted the naira’s official rate to 360, weaker than its previous peg of 306, implying a 15% devaluation. (Reporting by Chijioke Ohuocha; Editing by Jon Boyle)

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