By Adedapo Adesanya The Nigerian Naira continued its free-fall against the US Dollar in the Nigerian Autonomous Foreign Exchange Market (NAFEM) on Thursday, May 9 as it fell by 2.7 per cent or N38.67 to close at N1,459.73/$1 compared with the previous day’s rate of N1,421.06/$1, according to data from the FMDQ Securities Exchange. The value of the Nigerian currency further weakened during the session amid a weaker supply of foreign exchange (FX) to the currency market despite efforts by the Central Bank of Nigeria (CBN) to scare speculators and hoarders. This was evidenced in the value of forex transactions
Nigerian Naira Gasps For Air, Tumbles to N1,459/$1 at Official Market
