Naira Weakens Again as Nigeria Struggles With Dollar Shortage – Bloomberg
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Dealers exchanged naira on the official market at levels as low as 1,299.50 per dollar.
Nigeria’s naira slipped to fresh lows in intraday trade this week, despite efforts by the central bank to clear a backlog of orders for US dollars that’s been undermining the currency for months.
Dealers exchanged naira on the official market at levels as low as 1,299.50 per dollar, which improved slightly to 1,261 naira by Thursday as liquidity improved, according to investment bank Chapel Hill Denham in Lagos.
