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Category currency depreciation

MainNewscurrency depreciation
Experts Question Ghana VP’s Gold-Backed Currency Pledge

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 cedi with gold....
Aug, 21, 2024
by Bitcoin News
‘Spraying’ Naira Notes Causes Depreciation, Warns Nigerian Anti-Graft Body

‘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 at social events, emphasizing...
May, 28, 2024
by Bitcoin News
Nigerian Currency Slides 5% After Central Bank Injects More Than $80 Million Into Forex Market

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 slid by just over five per cen...
May, 20, 2024
by Bitcoin News
Volatile Nigerian Currency Rallies 12%, Becomes Best-Performing Currency in April

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 best-performing fiat currency in Ap...
Apr, 14, 2024
by Bitcoin News
Economic Intelligence Unit: Nigerian Central Bank Lacks Capacity to Defend Local Currency

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 the local currency. The continued ...
Mar, 12, 2024
by Bitcoin News