Nigeria’s naira hit a record intraday low on Monday ahead of a central bank interest rate meeting, as dollar liquidity dried up on the interbank market, dealers said.
The naira, which has been hit hard by falling oil prices, fell to 188.85 to the dollar at 0930 GMT, weaker than 184.90 it closed at on Friday.
The central bank is due to announce the outcome of its two-day interest rate meeting on Tuesday with most analysts expecting it to maintain tight liquidity to support the currency and hold interest rates at 13 percent, reports Reuters.
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