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Nigeria News

Nigeria naira hits 500 per dollar on black market -traders

ABUJA, Nov 30 (Reuters) - The Nigerian naira hit 500 per dollar on the black market on Monday to fall to a more than three-and-half-year low, traders said.

The central bank weakened the naira to 390 per dollar for exchange bureaux mostly patronised by individuals, in an attempt to ease pressure on the currency, which has hit new lows on the black market as dollar scarcity squeezes the economy. (Reporting by Chijioke Ohuocha; Editing by Kevin Liffey)

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