Nigeria's Currency Struggles in 2024: Naira Declines by 43%

Nigeria's Currency Struggles in 2024: Naira Declines by 43%

The naira has emerged as one of the worst-performing currencies in Sub-Saharan Africa in 2024, experiencing a staggering 43% depreciation year-to-date, as highlighted in the World Bank’s Africa Pulse report. Key factors driving this decline include soaring demand for US dollars, limited inflows of foreign currency, and slow disbursements from…

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