Naira record all time low after Nigeria delays national elections

The naira currency opened at record low on Monday on thin trading as the interbank markets digested the news that Nigeria would delay its presidential election for six weeks due to an Islamist insurgency in the north, dealers said.

The naira opened at a record low of 194.75 to the dollar, and quickly fell 1.1 percent to 196.05, compared with its previous close of 193.90 on Friday. 

Nigeria's electoral commission said late of Saturday it would postpone the Feb. 14 presidential election until March 28 due to security concerns. (Reporting by Chijioke Ohuocha; Editing by Alison Williams)

Reuters