Business

Nigeria naira eases to new low on spot market on FX scramble

Isaac UmunnaComment(0)

The Nigerian naira eased to a new low of 385.39 per dollar on the over-the-counter spot market on Friday as importers scramble for dollars to meet existing obligations, one trader said.

The naira has been hitting new lows since this week on the spot market after the central bank last week devalued the official exchange rate.  Reuters

Pix: Nigeria FX trading

Isaac Umunna

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