Naira’s Resilience: Moderated Depreciation Signals Shift from 2024’s Turbulence
The Nigerian naira is demonstrating a notable shift in its exchange rate trajectory, moving away from the dramatic declines that characterized 2024. While still facing pressures from a dominant U.S. dollar, the naira’s year-on-year depreciation has significantly moderated, offering a cautious glimmer of improved stability in comparison to many of its emerging market peers. This