The nation’s currency on Wednesday fell to a record low of N511 against the U.S dollar at the parallel market amid rising external reserves which stood at $28.97 billion as at February 14, 2017 according to data obtained from the website of Central Bank of Nigeria (CBN).
The naira weakened by N3.00k or 0.6 percent lower than N507 per dollar traded the previous day at the unregulated black market.
Against other currencies, naira depreciated by N5.00k to N625 per pounds sterling from N620 the previous day and N535 against the Euro at the parallel market.
