Naira slides past 400 per dollar on black market

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Nigeria’s naira slid pass 400 on the black market on Friday amid tight dollar supply, despite a series of currency forwards sold by the central bank this month to clear demand for the U.S. currency on the official market, traders said. The naira was quoted at 405 per dollar on the black market on Friday…. This content is for Standard Digital Monthly Subscription, Premium Digital Monthly Subscription, Standard Digital Yearly Subscription, Premium Digital Yearly Subscription, WSJ 5 DAY TRIAL and 30-Day Corporate Subscription members only. Visit the site and log in/register to read. The post Naira slides past 400 per dollar on black market appeared first on BusinessDay : News you can trust.
Source: Business Day Online