The Nigerian naira depreciated against the U.S. dollar, closing at N1602, amid a reported 6% drop in total foreign exchange inflows in April. Trading activities on the Nigerian Foreign Exchange Market (NFEM) showed transaction ranges between N1580 and N1603.50, with the final rate settling at N1602.18. This reflects a modest depreciation of 16.5 basis points … Continue reading Naira Slides As Forex Inflows Decline, CBN Injects Additional $116m