ABUJA, July 20 (Reuters) - Nigeria's naira traded at a record low of 860 per dollar on the black market on Thursday, according to traders, weakening below its official rate a month after the country devalued the currency and ahead of a central bank policy meeting next week.
The naira has been swinging widely on the official market since the devaluation.
It touched a new low of 853 naira per dollar on Wednesday, according to OTC market regulator, FMDQ Exchange.
The currency closed at 742 naira against the dollar on the official market on Thursday, Refinitiv data showed.
Dollar shortages on the official market have seen customers turning to the black market, helping to widen the gap between the spot rate and the black market, one trader said.
Persons:
Nigeria's naira, Bola Tinubu, Elisha Bala, Andrew Cawthorne, John Stonestreet, Tomasz Janowski
Organizations:
FMDQ Exchange, Thomson
Locations:
ABUJA, Nigeria