By Adedapo Adesanya The Nigerian Naira weakened against the US Dollar in the Nigerian Autonomous Foreign Exchange Market (NAFEM) on Thursday, April 25 as it fell by 0.1 per cent. During the trading session, the value of the Naira closed at N1,309.88/$1 compared with the preceding day’s closing value of N1,308.52/$1. It was the fifth straight session that the Naira has dropped value following a stronger-than-expected recovery for the local currency in the past weeks. The loss yesterday happened despite an improvement in the supply of FX to the spot market, as the turnover rose by 61.0 per cent or
Nigerian Naira Extends Loss to Fifth Day Despite FX Supply Boost
