Nigeria, Ghana, and SA face volatility as half of African currencies show signs of depreciation – Report
Nearly half of African currencies have shown signs of depreciation despite steady development across the continent, according to the latest edition of the Monthly Developments in the African Macroeconomic Environment report published by the African Export-Import Bank (Afreximbank) for June 2025.The report, which analyzed exchange rate dynamics for May 2025, revealed a mixed performance across African economies.While some currencies appreciated or remained stable, others experienced significant declines, reflecting the continent’s exposure to global economic volatility and domestic fiscal pressures.Currency Trends: Gains and Losses According to Afreximbank, countries such as Ghana, South...