Among Battered Oil Currencies, Nigeria’s Is Biggest Loser: ChartBy
Oil currencies have been hammered since crude prices crashed in mid-2014, and none more so than Nigeria’s naira. It’s lost almost half its value against the dollar, the most among the currencies of OPEC members and more than Russia’s ruble, which is down 47 percent. For foreign investors, that may be a cue to re-enter the West African country as a weaker currency makes its bonds and stocks cheaper.
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