Experts Question Ghana VP’s Gold-Backed Currency Pledge
A Ghanaian banking consultant, Richmond Atuahene, has expressed concerns about Vice President Mahamudu Bawumia’s pledge to back the…
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currency depreciation
12 posts
‘Spraying’ Naira Notes Causes Depreciation, Warns Nigerian Anti-Graft Body
The Economic and Financial Crimes Commission (EFCC) has issued a warning against the practice of spraying naira notes…
Nigerian Currency Slides 5% After Central Bank Injects More Than $80 Million Into Forex Market
The Nigerian naira continued with a downward which recently saw it being named the worst-performing currency when it…
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…
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…