Nigeria’s naira weakened to a record low of 375.50 to the dollar on Tuesday on the official interbank market, according to Thomson Reuters data.
The currency had briefly touched a rate of 365 on Aug. 18 but then quickly reversed the losses and closed at 324 to the dollar on the official window.
It then stabilised at around 305.5 to the dollar due to daily interventions by the central bank, traders said.
There was no immediate explanation for the currency move. (Reporting by Oludare Mayowa; Editing by Ulf Laessing)
We hope you enjoyed reading the above post. How about helping us share the information to your fans and friends on social media? Meanwhile, you can rely on us daily for the latest and relevant free forex trading signals, free forex trading market news, free forex trading technical levels, weekly Pool draws, latest news from Nigeria and the world, educational articles and quality academic information, insurance news and scientific knowledge.
Do you need a classical ORGANIST or an excellent music teacher? CALL Fabian on 08033983034 or email him at firstname.lastname@example.org
Follow us on twitter @newsbeatportal
Engage #SantexTech today to build & install inverters, training on inverters & other electronic designs, projects/kits. Call 08039574535
Click to join Talk Nigeria Today, a group where hot, controversial, and breathtaking issues are brainstormed upon.