- Naira, in recent months, has depreciated heavily against the US dollar in all foreign exchange markets
- While the Naira is struggling, there are other currencies, like the British pound with stronger value against the US dollar
- Bola Tinubu, who is expected to succeed Buhari as president, has reportedly promised to improve the Naira exchange rate to N200/$
The US dollar is generally seen as the most powerful currency in the world because It’s the most-traded currency on the global stage by a wide margin.
Its dominance dates back to the Bretton Woods conference held in 1944 when 44 Allied nations during World War II agreed on the establishment of a new international monetary system.
