LAGOS (Reuters) – Nigeria’s naira hit a new record low of 999 per dollar on the official market on Thursday, Refinitiv data showed, in line with weakness on the parallel market as dollar shortages continued to put pressure on the currency.
The naira has been in free-fall on the unofficial market, where it trades freely, which worsened after currency restrictions were lifted on the official market in June.
On Tuesday, it slumped to 1,100 to the dollar on the parallel market, and 980 per dollar on the official market, Refinitiv data showed.
The central bank has promised to intervene in the foreign exchange market occasionally to boost liquidity.
(Reporting by MacDonald Dzirutwe, editing by Deborah Kyvrikosaios)