efforts

© Reuters. The Nigerian Naira continues to experience significant depreciation, despite the Central Bank of Nigeria’s attempts to strengthen the local currency. The Naira’s value has been on a downward trajectory since June 2023, when forex reforms triggered the floating of the local currency from N471.67 per dollar, marking the beginning of its depreciation journey.

© Reuters. The Nigerian Naira continued its downward trend against major currencies, hitting a record low on Monday. Despite the Central Bank of Nigeria’s (CBN) efforts to manage the currency value by floating it on June 14 and lifting forex restrictions on commodities, the Naira’s depreciation persisted. According to Aboki FX, the Naira started the