Nigeria's Currency Plummets After End of Peg.
TL;DR
Nigeria's decision to end its currency peg to the US dollar has caused the biggest fall in the naira's history, with the currency dropping 30% against the greenback. The move is part of a shift towards a more flexible exchange rate policy, which is hoped to boost the country's struggling economy. However, the decision has also raised concerns about inflation and the cost of imports.
- End to Nigeria currency peg causes biggest fall in naira's history Financial Times
- Investors Will Applaud Nigeria's Decision To Unify Exchange Rates Arise News
- Nigeria allows currency to drop third of value on official market Al Jazeera English
- Nigeria allows naira to drop more than 36% on official market Reuters.com
- CBN Permits Banks To Freely Trade Dollars Channels Television
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