ABUJA (Reuters) – The Nigerian naira dropped on Thursday to a record low of 462 per dollar on the official market, Refinitiv data showed, with traders saying the central bank has been adjusting rates to cope with backlog demand for foreign exchange.
The currency weakened to a low of 461 to the dollar on the official market on Wednesday.
The naira has fallen to successive lows across both the official and black markets due to dollar scarcity since last year after the central bank intervened to ease pressure on the spot market, where the naira has been trading within a range.
(Reporting by Chijioke Ohuocha; Editing by Alison Williams and Emelia Sithole-Matarise)
