Naira crosses 300 / $1 mark at interbank market

The naira is currently taking its deepest dive on the interbank market since the launch of the new foreign exchange regime about a month ago.

Naira, which opened at about 294 to a dollar on Thursday, slid pass the 300- mark to trade at 310 to a single dollar on the official market.

The Central Bank of Nigeria ( CBN ) refrained from intervening in the market as the naira took its biggest daily loss in about four weeks.

Parallel market sales is already being affected by the new movement , as traders in Lagos are now trading at 377 to the dollar , as against 375 at the start of business on Thursday.

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