Nigeria’s Naira Weakens to 1,407 per US Dollar on the Black Market

Currency · Nigeria Key Facts —The move. Nigeria’s naira weakened to about 1,407 per US dollar on the parallel (black) market. —From. That was down from roughly 1,400 per dollar the previous Friday. —The context. The parallel market is where many Nigerians buy dollars outside official channels. —The range. Through July, parallel-market quotes hovered broadly…