Nigeria's Naira Hits New Low Against Surging US Dollar
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Nigeria's naira hit a new all-time low of 1,105 to the U.S. dollar on the official market on Thursday, down from 830 to the dollar on Wednesday.
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The reason for the naira's sharp fall on the official market was not immediately clear.
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The naira has also been hitting successive record lows on the parallel market, where excess demand gets funneled.
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The naira is the currency of Africa's biggest economy, Nigeria.
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The fall in the naira comes as the dollar continues to strengthen against global currencies.