Naira Hits N400:$1 for the first time on Parallel Market.

The Nigerian currency was quoted at 400 Naira per dollar for the first time on the parallel market on Friday, traders said, citing a surge in demand for the greenback from individuals travelling abroad for their summer holidays.

In the official interbank market, the naira was trading at 310.50 to the dollar as of 1208 GMT.

The naira has weakened on the parallel market since this week after it opened with a quote of 381 on Monday. 

Reuters
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