According to Africa Facts Zone, Nigerian currency was one of the strongest in the world
- In 1981, the naira was equal to $0.61 after it was at its peak at N1 to $0.550 in 1980
- Within the span of 11 years, the naira competed well with the American dollar
Africa Facts Zone, a Twitter handle that unearths hidden or long-forgotten facts about the continent, has shown how Nigerian currency was almost as strong as the American dollar.
In a tweet on Wednesday, June 3, it traced the strength history of the country’s currency as it compared it to US dollar.
Between 1974 and 1985, the naira rocked from $0.63 to $0.894. In 1979 and 1980, the naira was at its strongest as it was $0.596 and $0.550 respectively.
Below is a list showing the strength of the country’s currency from 1974 to 1985:
1974 – $0.63
1975 – $0.616
1976 – $0.62
1977 – $0.647
1978 – $0.606
1979 – $0.596
1980 – $0.550
1981 – $0.6
1982 – $0.673
1983 – $0.72
1984 – $0.76
1985 – $0.894
