[Video] Eritrea’s Nakfa among the Top 5 African currency gainer against the dollar
The Eritrean Nakfa is among the top 5 African currency gainers, up 1.25% against the dollar in 2016, according to Bloomberg news.
Expectedly, Nigeria’s Naira heads the list of currencies that have fallen the most against the Dollar so far this year. The Naira’s plummet is mainly due to a long-overdue floating of the currency on the 20th of June. Mozambique’s Metical is next, having lost over a quarter of its value to the dollar, followed by Sierra Leone’s leone. Angola’s Kwanza, which has been devalued, is next, followed by Guinea’s Franc. Egypt’s Pound, which is expected to be devalued further, is down 11.86% against the dollar, in the year to date.