Naira Drops to Record in Unofficial Trading on Dollar Scarcity
- Nigerian currency falls to 321.50 per dollar on Thursday
- Nigeria's central bank has pegged the official rate at 197-199
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Nigeria’s currency dropped to a record low in the unofficial, or parallel, market on Thursday as a dollar shortage in Africa’s largest economy worsened.
The naira fell to 321.50 per dollar in Lagos, the commercial capital, from 318 naira on Wednesday, said Aminu Gwadabe, president of Lagos-based Association of Bureau de Change Operators of Nigeria.