Oil vs. Naira

by | September 26, 2016 12:23 am

Nigeria’s naira hit a new record low of N436 per dollar on the black market last week as dollar shortages on the official market persisted, meaning importers are still sourcing most of their hard currency needs from the unofficial black market. Meanwhile dollar reserves fell to $24.83 billion by Sept. 19, down 3.4 percent from…

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