The Nigeria currency is set to be devalued further in 2024, which could spell the worst for the Nigeria currency and the economy of the West African nation.
Recall that samsunblog posted the news of depletion of Nigeria foreign reserve by $4.2 billion, so financial analysts are predicting a further fall in the value of naira.
The naira traded for N1,300 to the dollar in black market and N1,046 in the official window as at Thursday 28th December, 2023.
The economy of Nigeria is dependent on proceeds from crude oil sales.
The Nigerian naira is the third worst currency in the World after Argentine peso and Lebanese pound.
