Naira still trading 25% below value – IMF

The International Monetary Fund (IMF) has said that the naira remains significantly undervalued despite recent gains against the United States dollar following Nigeria’s foreign exchange reforms.In its latest Article IV consultation report on Nigeria, the Washington-based lender stated that its Real Effective Exchange Rate (REER) assessment showed the local currency was still trading below levels supported by the country’s economic fundamentals.The REER is a measure of a currency&rs