Nigeria Naira Ranks Among Africa's Weakest Currencies Despite Improving Inflation

The Digest:

The Nigerian Naira has been identified as one of Africa's weakest currencies, ranking ninth on Forbes' continental assessment with an exchange rate of ₦1,490 per US dollar, highlighting the persistent economic challenges despite recent positive inflation trends. This positioning underscores the disconnect between currency performance and other macroeconomic indicators in Nigeria's ongoing economic recovery.

Key Points:

• Nigerian Naira ranks as Africa's ninth weakest currency at ₦1,490/$
• São Tomé & Príncipe Dobra leads weakest currencies at 22,282/$
• Tunisia's Dinar remains continent's strongest currency at 2.90/$
• Ranking contrasts with Nigeria's improving inflation outlook
• Headline inflation dropped from 24.5% to 20.12% January-August 2025
• Decline marks sharpest mid-year disinflation in over a decade
• Inflation projected to reach 17% by December 2025

This assessment reveals the complex nature of Nigeria's economic recovery, where currency weakness persists alongside significant improvements in inflation control and monetary stability.

Rooted in the Storm.

Sources: Instablog9ja
Tags: Nigerian Naira, Forbes Ranking, Currency Performance, African Economies, Inflation Rate, Economic Recovery, NB Digest