Interbank Market: Naira hits record low of 319 per dollar

Naira hit a record low of 319 per dollar in midday trade on the interbank market on Friday, after it crossed 300 for the first time in the previous session.

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The naira opened at 298.50, down 2 percent from its previous close, but extended losses as traders tested lower levels to attract liquidity in the absence of central bank interventions, they said.

The local currency slipped to an all-time low of 330.50 in off-market trades on Thursday.