Nigeria’s naira sank to a record low of 300 per dollar on the black market on Wednesday after the central bank stopped dollar sales to retail foreign exchange operators, traders said.
The naira, pegged at about 197 to the dollar on the official interbank market, was quoted between 290 and 300 by several bureaux-de-change operators. The unofficial market accounts for less than 5 percent of total dollar trades in Nigeria.
