Zambian Currency, the Kwacha, Plunges to New Record Low Against US Dollar
Zambia’s worsening shortage of foreign exchange as well as one of its worst droughts in recent memory saw…
Browsing Tag
Exchange rate
24 posts
Japanese Yen Tumbles to 34-Year Low Against Soaring US Dollar
This week, the Japanese yen plummeted to its lowest point since 1990 against the U.S. dollar, weighed down…
Nigerian Currency Reverses Early April Gains, Depreciating by 12% in Seven Days
The Naira recently depreciated by 12% in just seven days, thus shedding all the gains it made against…
Nigerian Central Bank Governor Denies Using Forex Reserves to Defend Local Currency
The Nigerian central bank governor has refuted claims that the bank is using the country’s foreign exchange reserves…
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…
Nigerian Central Bank Prohibits Use of Foreign Exchange as Collateral for Local Currency Loans
The Central Bank of Nigeria has barred the use of foreign exchange as collateral for local currency loans.…
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: Turkey Exits From Foreign Exchange Protected Deposit Program
On Jan. 1 Turkey ended its two-year-old foreign exchange (FX)—protected deposit program in what is seen as another…
India’s De-Dollarization Push Flounders as Oil Suppliers Cite Rupee Repatriation Concerns
The Indian Oil Ministry recently acknowledged that the country’s push to pay for oil with rupees has failed…