Naira crashes to record low

By Feb 10, 2015 #Naira

Naira bundles: official dollar rate hits N198, despite CBN intervention

The Nigerian currency, the naira hit a new record low on Tuesday on thin dollar liquidity, amid concerns over political stability after a six-week delay to Nigeria’s presidential election.

The naira was quoted at a record low of 197.3 to dollar by market open and quickly fell to 198.95 by 0822 GMT.

Nigeria’s electoral commission said late on Saturday it would postpone the Feb. 14 presidential election until March 28 due to security concerns.


Related Post

Leave a Reply