The Nigerian naira has been listed as one of the world’s worst performing currencies in 2016, according to a report compiled by Bloomberg LP.

The naira was said to have lost 36.68 percent of its spot returns for the year, while the Egyptian pound, Suriname dollar and Venezuela bolivar’s currency spot returns dropped by 58.84 per cent, 46.68 per cent and 37 per cent, respectively, for the period.

The Nigerian equity market fared worst in the year, according to the report, as the nation’s economy is set to contract in 2016 for the first time in more than 20 years as capital controls deter foreigners from investing and militants are blowing up pipelines.

The five best performing currencies of the world are the Russian ruble, Brazilian real, the palladium, the Iceland krona, and silver, which appreciated by 21.31 per cent, 20.96 per cent, 20.08 per cent, 14.42 per cent and 14.41 per cent, respectively, in terms of spot returns.

Two Africa currencies, the Zambian kwacha and South African rand, emerged as the sixth and seventh best performing currencies of the world. The kwacha and rand appreciated by 11.96 per cent and 11 per cent respectively.

The report stated, “It was a particularly bad year for any currency called the ‘pound’. The Egyptian version was the worst performer in 2016 as the nation took the dramatic step of allowing it to trade freely in an attempt to stabilise an economy struggling with a dollar shortage and concerns over social unrest. Britain’s pound tumbled after the Brexit and never recovered.”

On the other side of the spectrum, digital currency, bitcoin, was the best performer this year, rising more than 100 percent as capital controls in places like China and isolationist rumblings in the United Kingdom and the United States fuelled interest in alternate currencies, according to the report.

It added, “When it comes to currencies issued by governments and central banks, the Russian ruble has been the best performer of the year as the oil market rebounded.

“While the UK currency’s slide didn’t match those in some emerging markets, it did tally the worst performance among major currencies.”

Despite recent unrest, Brazil’s Ibovespa stock index remained the best performer for 2016 when looking at all indices in terms of the US dollar, the report noted, stating that this was largely due to hopes that President Michel Temer, who took office after Dilma Rousseff was impeached, would end the worst recession in a century and bring about political stability.

http://investorsking.com/naira-among-worst-performing-global-currencies-in-2016/

FTC .......click like if u agree

Buhari shey u aff hear now

booboo

thanks to burahi n his cabal

Let's all hope for a better 2017

Gosh can the kids above , leave the arena. This country seriously needs technical intellectualism or else the naira will keep falling.
And by intellects I mean technologists.
As far as Nigeria keeps buying more than it sells, the naira will keep staying low.
Also those criminals in the Name of politicians and government officials should please stop mopping up available dollars, to bank outside
Let's be patriotic for once.

That's how globally visible Buhari's incompetency is

It will continue since a large percentage of nigerians still remain unreasonable. How can somebody at this time be encouraging the destruction of the country. Now i believe that jonathab was ignorant of all what he was accused of

December 28 2015,

Not in any way surprised

This is just a period. By the end of next year almost 90% of what we are importing will be produced here and there will be less demand for dollar.
Look at the homegrown food program even though it is still a bit expensive people are going into farming big time. The same will apply to manufacturing

Technically speaking, Buhari aka Captain Ostrich is one of the worst performing presidents for 2016.

Sarrki, madridguy, hungerbad make una come receive dis award on behalf of capt ostrich

National Nightmare ..


Let us Pray for our dear naira

And this is a surprise?

F

Buy Naija and Grow Naira!

This is old story. Tell us something new.

Pmb must see this

Bitcoins

THIS IS NAIRA ON FOREX CHART COMPARE TO OTHER CURRENCIES WITH HEALTHY ECONOMY, YOU CAN SEE THE TRAGIC PATTERN

Una never chi chum chin

I HEAR

truthspeaks:
Technically speaking, Buhari aka Captain Ostrich is one of the worst performing presidents for 2016.

Sarrki, madridguy, hungerbad make una come receive dis award on behalf of capt ostrich

He is the worst president we ever had. He threw away the soup while chasing the ants from the pot. He is an error

We ought to be shocked by this news;Because?

Who doesn't know this?

Currency does not determine the standard of living...Industrialization does.

Check my Signature.

This is no news. As far as buhari helm the affair of this nation, Nigeria remains rudderless.

we dont need a soothsayer to tell us this.. it's so clear to the blind and loud to the deaf