Naira Value Rises in Black Markets, Falls in Official Market Against US Dollar [Video]

• The Nigerian currency recorded a mixed performance against the United States Dollar in the forex markets
• The latest data shows that it fell in the official market, while it improved in the unofficial markets
• The Central Bank of Nigeria has a tough week ahead in the foreign exchange markets as the naira resumes its free fall

Legit.ng journalist Dave Ibemere has over a decade of business journalism experience with in-depth knowledge of the Nigerian economy, stocks, and general market trends.

The Nigerian naira has recorded another poor performance against the US dollar in the official market.

Data rom FMDQ securities showed that the naira weakened in the Nigerian Autonomous Foreign Exchange Market (NAFEM) to N1,339.23/$1 on Friday, April 26, 2024.

Friday’s exchange rate signifies lost N2.2% or N29.35 on Friday to trade at in contrast to Thursday’s closing value of N1.309.08/$1.

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