February 6, 2017 / 11:09 AM / 3 years ago

Nigeria's naira opens at 500 per dollar on black market - traders

LAGOS, Feb 6 (Reuters) - Nigeria’s naira opened at 500 per dollar on the black market on Monday, 39 percent weaker than on the official market, where the central bank has been selling the greenback to support the local currency.

The naira has been hovering near the 500 level for the past two weeks as the central bank continues to ration dollar supply on the official market with demand rising.

On the official market, the naira has been trading at 305.25, a level it has been trading at since last August. (Reporting by Chijioke Ohuocha and Oludare Mayowa; Editing by Louise Ireland)

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