Volatile Nigerian Currency Rallies 12%, Becomes Best-Performing Currency in April
After months of sustained decline, the Nigerian currency has rallied since March and is currently ranked as the…
Browsing Tag
currency depreciation
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Economic Intelligence Unit: Nigerian Central Bank Lacks Capacity to Defend Local Currency
The Economic Intelligence Unit has stated that the Central Bank of Nigeria cannot halt the rapid depreciation of…
Egypt Devalues Currency, Raises Interest Rates to Fulfill Key IMF Aid Requirement
Authorities in Egypt recently allowed the local currency’s exchange rate versus the U.S. dollar to decrease by more…
Nigeria’s Headline Inflation Increases as Central Bank Intensifies Foreign Exchange Controls
In the first month of 2024, Nigeria’s headline inflation rose from nearly one percent to 29.9%. However, on…
Nigerian Currency Depreciation: Central Bank Head Reaffirms Commitment to Reviving Confidence in the Economy
The Nigerian central bank remains committed to building confidence in the economy but that hinges on the implementation…
Nigeria Forex Crisis: Central Bank Removes Cap on Exchange Rate for International Money Transfer Operators
The Central Bank of Nigeria announced on Jan. 31 that it had removed caps on naira payout rates…
Report: Nigerian Currency Plunges to New Low Versus the US Dollar
The official exchange rate of the Nigerian currency versus the U.S. dollar recently plunged to a record low…
Economist Peter Schiff Warns US Dollar Collapse ‘Inevitable’
Economist Peter Schiff has warned of an impending collapse of the U.S. dollar even though he sees Fitch’s…
Study: Six Countries Account for Over 90% of Africa’s Crypto Interest in H1 2023
Between Jan. 1 and July 4, the Nigerian share of Africa’s overall interest in cryptocurrency stood at 66.8%,…