ABUJA: The one-month forward contract on the Nigerian naira hit a record low against the US dollar on Monday after the spot market on Friday eased to a record low.

One-month naira non-deliverable forwards stood at 416 points, from Friday's close of 414, Refinitiv data showed. Spot market naira closed at a record low of 410.50 per dollar on the over-the-counter market on Friday.