Nigerian Naira in Free Fall | All media content | DW | 21.06.2016
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Nigerian Naira in Free Fall

The Nigerian currency, the naira, was pegged to the US dollar. But the oil rich African country is suffering from lower oil prices on the global market. It had to float its currency, causing the naira to lose one third of its value. Nigerians can no longer afford to pay for imported foods like rice, milk, yoghurt and cereals.

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