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The Bloomberg LP has ranked Nigeria’s Naira as one of the world’s four worst performing currencies in 2016.
The five best performing currencies of the world are
the Russian ruble
Brazilian real
the Palladium
the Iceland krona, and
Silver, which appreciated by 21.31 per cent, 20.96 per cent, 20.08 per cent, 14.42 per cent and 14.41 per cent, respectively,
Bloomberg report stated, “It was a particularly bad year for any currency called the ‘pound’. The Egyptian version was the worst performer in 2016 as the nation took the dramatic step of allowing it to trade freely in an attempt to stabilise an economy struggling with a dollar shortage and concerns over social unrest. Britain’s pound tumbled after the Brexit and never recovered.”
Related: Naira, 3 Others Emerged Worst Currencies In 2016
The five best performing currencies of the world are
the Russian ruble
Brazilian real
the Palladium
the Iceland krona, and
Silver, which appreciated by 21.31 per cent, 20.96 per cent, 20.08 per cent, 14.42 per cent and 14.41 per cent, respectively,
Bloomberg report stated, “It was a particularly bad year for any currency called the ‘pound’. The Egyptian version was the worst performer in 2016 as the nation took the dramatic step of allowing it to trade freely in an attempt to stabilise an economy struggling with a dollar shortage and concerns over social unrest. Britain’s pound tumbled after the Brexit and never recovered.”
Related: Naira, 3 Others Emerged Worst Currencies In 2016