A weakening U.S. dollar is the opposite—the U.S. dollar has fallen in value compared to the other currency—resulting in additional U.S dollars being exchanged for the stronger currency. For example, if USD/NGN (dollar to Nigeria's naira) was quoted at 315.30, that means that $1 USD = 315.30 NGN.

Is the dollar weakening a good thing?

A weak dollar is also better for emerging markets that need U.S. dollar reserves. They can better afford to purchase U.S. currency. When a large trading partner like China artificially keeps its currency weak, it hurts the balance of payments, meaning its goods are cheaper than domestically produced products.

What causes weakening dollar?

A variety of economic factors can contribute to depreciating the U.S. dollar. These include monetary policy, rising prices or inflation, demand for currency, economic growth, and export prices.