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  • Mwandishi
    Machapisho
    • #12173
      +2
      The African Monetarist
      Mwanachama
      Lagos, Nigeria

      AFRICA’s worst

      performing

      currencies in 2023.

       

       

       

       

       

       

       

      AFRICA’s worst performing currencies in 2023: In 2023, the Naira emerged as Afrika‘s poorest performing currency, ranking third globally in depreciation. Nigeria‘s Naira recorded a significant 49% decline against the #dollar, marking it as the world’s worst-performing currency among the 151 currencies monitored by Bloomberg, trailing only the Lebanese pound and the Argentine peso.

       

      This sharp depreciation represents the most substantial decline since Nigeria’s return to democracy in 1999. There are concerns that the #Naira may face further depreciation in the current year unless the government, led by Tinubu, attracts international investors or increases oil production, as suggested by Vetiva Capital Management.

       

      Notably, several other African currencies also experienced challenges in 2023

       

      #Angola 🇦🇴 kwanza
      #Malawi 🇲🇼 kwacha
      #Zambia 🇿🇲 Kwacha
      #Burundi 🇧🇮 franc
      #DRCongo 🇨🇩 franc
      #Kenya 🇰🇪 Shilling

       

      Will the full launch of the African Continental Free Trade Area (AfCFTA) help bolster #African currencies, and ensure governments navigate these difficult economic challenges and foster sustained growth?!

       

       

Lazima uwe umeingia ili kujibu mada hii.

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The Mradi wa Wavulana wa SMILE Na msanii wa fani nyingi Kay Rufai, ni mradi wa ustawi wa akili unaoongozwa na utafiti kwa wavulana wa Black & BAME huko London. Fuata Kay Rufai juu LinkedIn na @ UNIVERSOULARTIST . »

 

 

 

 

     

     

     

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