The World Bank has said that the Nigerian currency, Naira has weakened by 40 percent since mid June 2023 devaluation and is one of the worst-performing currencies in Africa.
The World Bank said this in its report titled, ‘Africa’s Pulse: An analysis of issues shaping Africa’s economic future (October 2023 | Volume 28).’
“So far this year, the Nigerian naira and the Angolan kwanza are among the worst performing currencies in the region: these currencies have posted a year-to-date depreciation of nearly 40 per cent.
