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LequteMan
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The Nigerian Naira was on Wednesday quoted at 402 naira per dollar on the black market, 5 units weaker than 397 it traded at its previous session, traders say.
This is due to dollar shortages at the official market, Reuters say.
The naira first touched 400 on the black market earlier this month. It has hit fresh record low since it was floated on the official interbank market by the CBN in June.
No trades were posted at the interbank market on Wednesday until three minutes to the end of the session, when the central bank intervened, traders said.
Only three deals worth $0.75 million were traded at 305.50 per dollar, a level the market has closed at since Monday.
This is due to dollar shortages at the official market, Reuters say.
The naira first touched 400 on the black market earlier this month. It has hit fresh record low since it was floated on the official interbank market by the CBN in June.
No trades were posted at the interbank market on Wednesday until three minutes to the end of the session, when the central bank intervened, traders said.
Only three deals worth $0.75 million were traded at 305.50 per dollar, a level the market has closed at since Monday.
