Nigeria’s Naira slips again thanks to downturn in dollar liquidity

Cryptopolitan

Nigeria’s Naira slips again thanks to downturn in dollar liquidity

Nigeria’s Naira is experiencing a notable downturn, marking its most severe four-day drop since a devaluation earlier this year, as available U.S. dollars become scarce. Tuesday saw the Naira depreciate by 5.3% against the dollar, although it remains the best performer this month among currencies tracked by financial analysts, holding a 15% gain. However, in less formal markets, it’s a different story; the Naira dipped by 0.2%, cumulating a 17% …