Nigeria’s naira hit all time low of 1,170 per dollar on the parallel market on Friday, online platform abokiFX showed, a day after the currency hit a new low on the official market due to persistent dollar shortages.
The naira has been in freefall on the unofficial market, where it trades freely, which worsened after currency restrictions were lifted on the official market.
This is as the Naira weakened by 1.3 per cent yesterday compared to N1,155/$1 on Thursday.
The central bank has said it will intervene in the foreign exchange market occasionally to boost liquidity, after last week ending an eight-year ban on some items that were restricted from accessing dollars on the official market.
At the official market, Naira on Thursday fell to a record low of N999 according data quoted by Reuters from Refinitiv, an LSEG (London Stock Exchange Group) business, and one of the world’s largest providers of financial markets data and infrastructure.
