By Peter OBIORA InvestAdvocate

Lagos (INVESTADVOCATE)-The Nigerian naira on Thursday hit an all-time low of N480/$, having tumbled by 4.35 percent on its freefall in the parallel segment of the FX market as acute shortage of the greenback persists.

Reports from Cordros daily currency tracker says that the naira also tumbled against the pounds sterling and euro by 1.72 percent and 2.28 percent to N590.00 and N510.00 respectively

In the interbank market, the naira appreciated against one of the three currencies tracked by Cordros. The domestic currency strengthened 2.45 percent to N305.31. However, it weakened 1.20 percent and 1.38 percent against the pounds sterling and euro to close at N404.28 and N348.91 respectively.