Nigeria Statisense Report: Naira Plummets Among Top 15 Worst Currencies Against US Dollar

The Naira has been listed among the 15 worst-performing currencies against the US Dollar, according to Statisense by References1. The report, dated March 18, 2024, highlights the year-on-year loss against the USD for various currencies. Lebanon tops the list with a staggering -497%, followed by Syria (-418%) and Argentina (-319%). Nigeria's Naira ranks fourth with a loss of -239% against the US Dollar.

See List:

• Lebanon: -497%
• Syria: -418%
• Argentina: -319%
• Nigeria: -239%
• South Sudan: -102%
• Türkiye (Turkey): -70%
• Angola: -68%
• Malawi: -64%
• Egypt: -52%
• Venezuela: -51%
• Burundi: -38%
• Congo: -33%
• Belarus: -30%
• Laos: -24%
• Zambia: -23%

The data underscores the challenges faced by these economies in maintaining the value of their currencies against the US Dollar, reflecting various economic and geopolitical factors influencing global currency markets.