Naira Declines by 43%, Ranked as One of Africa’s Worst-Performing Currencies – World Bank
The World Bank’s latest Africa’s Pulse report ranks the Nigerian naira as one of the worst-performing currencies in Sub-Saharan Africa in 2024. By August, the naira had depreciated by around 43% year-to-date, alongside the Ethiopian birr and South Sudanese pound. This decline is driven by high demand for U.S. dollars in Nigeria’s parallel market, limited … Read more