Nigeria naira fell almost 1 percent to an eight month intraday low of 166.90 shortly after the interbank market opened on Wednesday, driven by dollar shortage, dealers said.
The local unit opened at 165.55 naira against the U.S. dollar. Dealers said a lack of central bank intervention in the market to support the naira since last week had worsened the dollar shortage and triggered a panic selling of the naira.
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