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Naira Weakens to N1,512/$1 at NAFEX as Crypto Market Tumbles

redesign Naira Notes

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By Adedapo Adesanya The Naira losses showed no signs of abating after it further declined against the US Dollar by 0.21 per cent or N3.16 in the Nigerian Autonomous Foreign Exchange Market (NAFEM) to exchange at N1,512.61/$1 on Wednesday, July 3 compared with Tuesday’s closing rate of N1,509.45/$1. In the same vein, the value of the Nigerian currency depreciated against the Pound Sterling at NAFEX yesterday by N2.76 to settle at N1,917.34/£1 compared with the preceding day’s N1,914.58/£1 and lost 8 Kobo against the Euro to quote at N1,624.34/€1 versus the preceding trading day’s N1,624.42/€1. The loss continued during the

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