Nigeria’s Naira joins worst-performing currencies globally —Bloomberg

Nigeria’s local currency, the naira, has joined the ranks of the world’s worst-performing currencies, according to a report by Bloomberg..

The naira’s dismal performance is mirrored by other African currencies, including the Zambian kwacha and Angolan kwanza, with five African currencies featuring in the bottom 10.

The report cites economic challenges, unstable commodity prices, inflationary pressures, and a lack of dollar liquidity as key factors contributing to the decline.

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