The Naira has been ranked as one of the 15 poorest performing currencies compared to the US Dollar.
A report credited to Statisense and dated March 18, 2024, examines the yearly depreciation of various currencies in relation to the USD.
Lebanon has the highest percentage loss at -497%, with Syria following closely at -418% and Argentina at -319%.
Nigeria’s Naira comes in fourth, experiencing a 239% decline against the US Dollar.
South Sudan saw a decrease of 102% in its economy, while Turkey experienced a 70% decrease. Angola, Malawi, and Egypt also saw significant declines in their economies, with decreases of 68%, 64%, and 52% respectively. Other countries such as Venezuela, Burundi, Congo, Belarus, Laos, and Zambia also experienced economic declines, ranging from 51% to 23%.
