Nigeria’s Dollar Liquidity Falls 48%, Triggering Naira’s 6% Decline
Nigeria’s currency, the naira, experienced a dramatic 5.8% drop on Thursday, settling at ₦1,649.76 per dollar in the official foreign exchange market. This marks the naira’s steepest daily fall since May 30, 2024, according to Bloomberg data. The fall comes after a week of volatility for the currency, which has been struggling against tightening dollar […]
