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Nigeria's naira falls to record low of 1,550 per dollar on official market - REUTERS

FEBRUARY 12, 2024

Written by Elisha Bala-Gbogbo for Reuters


ABUJA, Feb 12 (Reuters) - Nigeria's naira fell to a record low of 1,550 per dollar in intraday trading on the official market on Monday, slipping below rates quoted on the unofficial parallel market, LSEG data showed.

Africa's largest economy has been experiencing a crippling dollar shortage that has pushed its currency NGN=D1 to record lows in recent weeks, though central bank Governor Olayemi Cardoso has said that dollar liquidity is improving.

(Reporting by Elisha Bala-Gbogbo Editing by Gareth Jones)

(([email protected]; Reuters Messaging: [email protected]))

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