worst currency globally

Nigeria’s Naira Rated Worst-Performing Currency Globally For First-Half Of 2024

Nigeria’s Naira Rated Worst-Performing Currency Globally For First-Half Of 2024

Nigeria’s Naira has been identified as the worst-performing currency globally in the first half of 2024, according to a Bloomberg report on Friday, June 28. The Naira’s decline has been attributed to devaluation, insufficient dollar liquidity, and market volatility, which Bloomberg’s report says have thwarted the Central Bank of Nigeria’s efforts to strengthen the currency. Egypt’s pound and Ghana’s Cedi have also ranked among the worst-performing currencies. Data from FMDQ, as reported by Bloomberg, indicated that the Naira weakened for the ninth consecutive day, reaching ₦1,510 per dollar by Thursday, June 27. This continuous decline is the longest since July…
Read More