According to a report by Bloomberg LP, the naira has been ranked one of the world’s four worst performing currencies in 2016.
The naira, according to the report, lost 36.68
per cent of its spot returns for the year, while the Egyptian pound,
Suriname dollar and Venezuela bolivar’s currency spot returns dropped by
58.84 per cent, 46.68 per cent and 37 per cent, respectively, for the
period.
The Nigerian equity market performed badly
in the year, according to the report, as the nation’s economy is set to
contract in 2016 for the first time in more than 20 years as capital
controls disallow foreigners from investing and militants are blowing up
pipelines.
0 comments:
Post a Comment