Mongolia’s tugrik, the world’s worst-performing currency in August, is in its longest losing streak on record as the nation’s government seeks ways to stabilize an economy it says is in the grip of a crisis.
The currency weakened a 22nd day to 2,243.50 per dollar as of 5:05 p.m. in the capital Ulaanbaatar, the lowest level in Bloomberg data going back to 1993. The tugrik’s 7.8 percent drop this month is the biggest among 154 currencies tracked by Bloomberg, taking its decline in 2016 to more than 11 percent.

Mongolia has suffered from falling commodities prices, an economic slowdown in China and waning interest by foreigners spooked by anti-investment laws and inconsistent policy. Prime Minister Erdenebat Jargaltulga has rolled out an economic recovery plan that includes salary cuts, debt reduction and development of a council to attract foreign investment, according to a televised statement issued Tuesday. He became prime minister after the Mongolian People’s Party unseated the Democratic Party in a landslide win in June elections.

“We are in a deep state of economic crisis,’’ Finance Minister Choijilsuren Battogtokh said in a nationally televised address last week. “We came into a situation where we may not be able to afford to finance salaries and operational costs of government departments, such as the Mongolian military who protect our borders and national security, the social and health employees who are in charge public health, as well as individuals in culture and sport.’’
Mongolia had foreign currency reserves of $1.3 billion at the end of June, according to data published by the central bank. That cash pile declined 23.1 percent from a year earlier after the previous government increased spending ahead of the elections.
A team of International Monetary Fund representatives arrived in Mongolia Tuesday and will begin talks with the government on resolving economic challenges, according to local television.
Neil Saker, the IMF’s resident representative in Mongolia, declined to give details of the meetings, saying it’s the “IMF’s routine global practice to establish early contact with newly elected governments.”

Source:http://www.bloomberg.com/news/articles/2016-08-16/world-s-worst-currency-in-record-slide-as-mongolia-sees-crisis

Well the issue of naira losing value isn't restricted to our country alone, imagine you changing a a dollar to 2000naira?
Let keep praying and encouraging our leaders to do well, abusing and cursing them will not change our fortune rather it will only compound out issues,
The economic recession is hitting us hard but their is still hope
Learn to appreciate what you have before condition made you do that

God bless Nigeria
God bless our good leaders

The pound is officially the world’s worst performing currency
Harry Readhead for Metro.co.uk
Saturday 9 Jul 2016 10:19 am

The sterling fell below $1.30 (Picture: Getty Images)
The pound sterling has become the world’s worst-performing currency against the dollar among the major currencies.

In the wake of the Brexit vote, the pound fellow below $1.30 for the first time since 1985. It rebounded, slightly, to $1.29 by the end of the second week.

That means that the pound has overtaken the Argentine peso to become the worst-performing currency against the dollar among the 312 major currencies for 2016.


Goldman Sachs says the pound could drop further (Picture: Getty Images)
Goldman Sachs has said the pound could go as low as $1.20 in the next three months. Analysts said the most recent slide on Tuesday was caused by warnings from the Bank of England.

Governor Mark Carney said markets were performing ‘pretty well’ since June 23.

‘The adjustment in sterling has been significant and was sharp initially,’ he said.

‘That adjustment has moved in the direction that is necessary to facilitate some of the economic adjustments that are needed in the economy.’



Read more: http://metro.co.uk/2016/07/09/the-pound-is-officially-the-worlds-worst-performing-currency-5995978/#ixzz4HZeGDmnH

We are still better than many.