By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
Daily Report NigeriaDaily Report NigeriaDaily Report Nigeria
Notification Show More
Font ResizerAa
  • HOME
  • NEWS
  • POLITICS
  • METRO
  • ENTERTAINMENT
  • SPORTS
  • FACT FILE
  • SPECIAL REPORT
Reading: Naira Plummets to Third Worst Performing Currency Globally
Share
Font ResizerAa
Daily Report NigeriaDaily Report Nigeria
  • METRO
  • NEWS
  • POLITICS
  • SPECIAL REPORT
  • FACT FILE
Search
  • HOME
  • NEWS
  • POLITICS
  • METRO
  • ENTERTAINMENT
  • SPORTS
  • FACT FILE
  • SPECIAL REPORT
Have an existing account? Sign In
Follow US

Home | Naira Plummets to Third Worst Performing Currency Globally

News

Naira Plummets to Third Worst Performing Currency Globally

Olaitan Sodiq
Olaitan Sodiq
Published: June 15, 2025
Last updated: June 15, 2025
2 Min Read
Share
Naira Plummets to Third Worst Performing Currency Globally | Daily Report Nigeria
SHARE

The naira has now been classified as the third worst-performing currency in the world, following a staggering 70% depreciation against the dollar this year.

As of Monday, the naira weakened by 4.3%, reaching an unprecedented low of 1,670.65 naira per dollar, according to Bloomberg data.

This sharp decline has been attributed to a severe 72% drop in dollar liquidity, which fell to just $81 million, the lowest level in over a month.

The crisis in the foreign exchange market has intensified volatility, hindering Nigeria’s efforts to stabilize its currency amidst fluctuating oil production and foreign exchange inflows.

ATTENTION: Click “HERE” to join our WhatsApp group and receive News updates directly on your WhatsApp!

Finance Minister Wale Edun recently addressed the challenges, emphasizing that increasing crude output is crucial for enhancing Nigeria’s foreign exchange reserves and stabilizing the naira.

READ ALSO: Naira appreciates, trades at N1,600/$

“We must focus on boosting oil production to support our currency and reserves,” Edun stated, reflecting the government’s urgent need to tackle these economic hurdles.

Experts warn that the naira’s downward trend is alarming, particularly as the parallel market exchange rate hit ₦1,740/$1 over the weekend.

In contrast, the Nigerian Autonomous Foreign Exchange Market (NAFEM) showed slight stability and even appreciation, with market participants speculating that the Central Bank of Nigeria (CBN) may intervene soon to relieve pressure on the exchange rate.

 

For publication of Press Releases, Statements, and Advert Inquiries, send an email to info@dailyreport.ng
TAGGED:NairaTop Stories
Share This Article
Facebook Whatsapp Whatsapp Telegram Email Copy Link
Leave a Comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Latest Updates

African Fencing : Egypt Dominate with Five Golds in Lagos | Daily Report Nigeria
African Fencing : Egypt Dominate with Five Golds in Lagos
Sports
Kano Billionaire Aminu Dantata Dies at 94 in Abuja | Daily Report Nigeria
Kano Billionaire Aminu Dantata Dies at 94 in Abuja
News
IED explosion kills 4, injures 21 in Yobe | Daily Report Nigeria
IED explosion kills 4, injures 21 in Yobe
News
Transfer: Super Eagles Striker Paul Onuachu Seals Trabzonspor Move | Daily Report Nigeria
Transfer: Super Eagles Striker Paul Onuachu Seals Trabzonspor Move
Sports
Tinubu Jets Out for Saint Lucia, Brazil BRICS Summit Today | Daily Report Nigeria
Tinubu Jets Out for Saint Lucia, Brazil BRICS Summit Today
News

TOPIC

2023 Elections Abuja Accident AFCON Anambra APC Arrest ASUU ASUU Strike Atiku Abubakar Bandits Bayelsa BBNaija Biafra Boko Haram Bola Ahmed Tinubu Bola Tinubu Breaking News Breaking News Nigeria Burna Boy Burutu CBN Celebrity news Chelsea Coronavirus court covid-19 Crime Daily Report Ng Daily Report Nigeria Daily Sports News Davido Delta Delta state DSS Education EFCC Elections English Premier League EPL Family federal government FG FIFA World Cup Football Fraud Godwin Emefiele Goodluck Jonathan Governor Nyesom Wike Gunmen Health Ifeanyi Okowa Imo INEC Insecurity IPOB IYC JAMB Kaduna Kidnap Labour Party Lagos Lagos State Manchester United Marriage Muhammadu buhari Music NASS NDDC NDLEA Niger Delta Nigeria NLC Nnamdi Kanu NNPC Nollywood Nyesom Wike Olusegun Obasanjo Pastor PDP Peter Obi Police Politicians President Bola Ahmed Tinubu President Muhammadu buhari Professor Yemi Osinbajo Protest Rape Reno Omokri Rivers State Senate Sheriff Oborevwori Social Media Suicide Super Eagles Tinubu Top Stories Twitter Victor Osimhen Zamfara

You Might Also Like

Nigerian Maritime University | Daily Report Nigeria
News

Nigerian Maritime University Gets New vice-Chancellor

June 13, 2025
Police Arrest Woman, Lover for Murder of her Husband | Daily Report Nigeria
News

Police Arrest Woman, Lover for Murder of her Husband

June 15, 2025
Step Up Fight Against IPOB - IGP Tells Officers | Daily Report Nigeria
News

Step Up Fight Against IPOB – IGP Tells Officers

June 13, 2025
FG Plans Manifold Emergency Agricultural Projects For Niger Delta | Daily Report Nigeria
News

FG Plans Manifold Emergency Agricultural Projects For Niger Delta

June 14, 2025
© Daily Media N Publishing LTD. All Rights Reserved.
  • Home
  • About Us
  • Adverts With Us
Welcome Back!

Sign in to your account

Username or Email Address
Password

Lost your password?