Naira at Record Low a Month after CBN Lifts FX Peg

Naira eased 4.3 percent against the dollar on Friday to hit a record low after the central bank sold the greenback at a weaker rate to boost interbank market liquidity, traders told Reuters.

The naira hit a record low of 295.25 on thin trade, a month after the central bank lifted its currency peg.

A total volume of $12 million traded on the interbank on Friday at an average rate of 290 naira, with traders attributing the sale to a central bank intervention.

myfinancialintelligence.com