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The Nigerian currency collapsed on official and unofficial markets on Monday, with shares recording their biggest one-day fall in over a year.
Nigeria’s naira is experiencing a collapse that is worrying investors, who have been selling local assets.
Last Monday, the currency fell to 1,712 units to the dollar at the end of the day on the official market and to around the same level on the unofficial market, after extending its losses.
In Nigeria, the rate of inflation is accelerating daily. Data consulted on Thursday showed that food prices have risen exponentially since January. It had reached almost 30% in annual terms.
Nigeria is also facing a shortage of dollars, which is pushing the currency down, although central bank governor Olayemi Cardoso said that foreign currency liquidity was improving.
