Nigeria naira hits record intra-day low on spot market

ABUJA: The Nigerian naira hit a record intra-day low of 415.95 per dollar on the spot market on Monday after the currency eased on the derivatives market, traders said.

The futures market for five-year settlement hit a record low of 613.69 naira per dollar while the futures contract with three weeks to maturity eased to 405.13 per dollar, close to where the two-month forwards quoted the currency.