Thursday, February 5, 2015 3:33 pm
The naira, which opened at 192.70 to the dollar, quickly hit a record low of 194.30. It closed within a range of 190.10 to 192.40 the previous day.
The naira is trading outside a target of 160-176 to the dollar, which the central bank set following a devaluation in November and has continued to hit record lows despite the bank’s regular interventions.
Meanwhile, the CBN plans to sell $76.3million to the 2,544 burea de change operators in Nigeria, to improve dollar availability in the country. each BDC will get $30,000 from the special sale.
By noon today, a dollar fetched N210 in the parallel market.