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Nigeria's naira hits record low on black market against dollar -traders

09/20/2021 | 12:21pm EDT
FILE PHOTO: Nigerian naira banknotes are seen in this picture illustration

ABUJA (Reuters) - Nigeria's naira hit a record low on the black market of 572 against the dollar on Monday, traders said, after online firm abokiFx stopped publishing currency quotes following the central bank's accusation that it was being used to manipulate forex rates.

The central bank said on Friday it was investigating abokiFx https://abokifx.com, prompting the online firm to suspend black-market rate publications on the naira. abokiFx's last published quote on the naira was 570 per dollar on Friday.

The naira has been hitting new lows on the unofficial market following central bank actions to channel demand for dollars towards official platforms.

(Reporting by Chijioke Ohuocha; Editing by Andrew Heavens)


ę Reuters 2021
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