DISASTER | Naira Falls to N506/$ on Parallel Market
The naira hit a fresh low on the black market on Friday as it was sold at N506 per dollar, as traders tested new levels to try to tempt dollar holders to sell, Thisday reports.
The currency has hovered near the N500 level for more than two weeks and, with demand for dollars swelling, crossed the threshold as the unapproved retail market opened on Friday.
More details to come.
Follow us on Twitter at @thesignalng
Copyright 2015 SIGNAL. Permission to use portions of this article is granted provided appropriate credits are given to www.signalng.com and other relevant sources.