Nigeria naira hit a new record low of 436 on the black
market on Thursday as dollar shortages on the official market persist,
funneling importers to the unofficial market, amidst declining currency
reserves in Africa's biggest economy, traders said.
Nigeria's dollar reserves stood at $24.83 billion by Sept.
19, down 3.4 percent from a month ago, to its lowest level in more than
11-years, as the central bank sells the greenback on the interbank market to
support the naira.
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