The rise of the exchange rate in Nigeria? As at today, a pound to naira is now N311 while a dollar to naira is now N204. After a lot of research conducted, it looks like the naira has devalued by more than 25% in the last few years while as at yesterday the naira to a pound was 304. It devalued by 2.5%.
This is just within the time frame of 5 years (2011-2015). Will this result to hyper inflation?”At this rate of devaluation, our currency could end up like the Zimbabwe Dollars and become worthless within the next few years if necessary economic policies are not put in place.” an Economist said