#Daily Chart: Nigeria’s Naira, among Africa’s worst currencies, falls by 40% in October 2023.

According to the World Bank, the Nigerian naira is one of the worst performing currencies in Africa in 2023, having fallen by over 40% against the US dollar. Other currencies with significant losses so far in 2023, according to the World Bank, included South Sudan (33%), Burundi (27%), the Democratic Republic of Congo (18%), Kenya (16%), Zambia (12%), Ghana (12%), and Rwanda (11%).

Benedicta Elikor

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