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Nigeria’s Naira is one of Africa’s low-performing currencies so far in 2021 after dropping 2.85 percent of its value against the United States dollar in the forex market.
The Naira closed at 393.4 to a dollar on Friday compared to 382 to a dollar recorded on January 1, according to data compiled by www.exchange-rates.org, a currency tracking website and analysed by Ripples Nigeria.
Among the 28 countries surveyed, Nigeria is only behind Libyan Dinars, which came first among the worst performing African currencies since the beginning of the year. It shed 228.8 percent in value against the dollar from 1.35335 a dollar on January 1 to 4.44985 as at January 5.