By Adedapo Adesanya The Nigerian Naira extended its loss against the US Dollar in the Nigerian Autonomous Foreign Exchange Market (NAFEM) on Monday, April 29 by 5.9 per cent or N79.88 to quote at N1,419.11/$1 compared with the preceding session’s rate of N1,399.23/$1. The recent free-fall of the local currency is creating anxiety among foreign exchange (FX) traders and customers after being touted as one of the best-performing currencies earlier this month. But it maintained stability against the Pound Sterling and the Euro in the spot market yesterday at N1,453.07/£1 and N1,247.03/€1, respectively. Data obtained from the FMDQ Securities Exchange
Anxiety as Naira Depreciates to N1,419/$1 at Official Market
