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Category naira devaluation

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Nigerian Currency Plunges to All-Time Low Versus Dollar, Central Bank Revokes Licenses of 2,700 Currency Exchanges

Nigerian Currency Plunges to All-Time Low Versus Dollar, Central Bank Revokes Licenses of 2,700 Currency Exchanges

The exchange rate of the Nigerian currency versus the greenback recently plunged to an all-time low of NGN860:USD1. The naira’s depreciation has be...
Jul, 22, 2023
2 min read
by Bitcoin News
Nigeria Declares Food Emergency After Sixth Consecutive Increase in Inflation Rate

Nigeria Declares Food Emergency After Sixth Consecutive Increase in Inflation Rate

The Nigerian government declared a food price emergency after the latest data from the National Bureau of Statistics (NBS) showed that the country’...
Jul, 19, 2023
2 min read
by Bitcoin News
Nigeria Currency Presently Undervalued Says Bank of America Analysts

Nigeria Currency Presently Undervalued Says Bank of America Analysts

According to Bank of America analysts, the Nigerian currency is currently undervalued and will likely end the year trading at around NGN680 per dol...
Jul, 04, 2023
2 min read
by Bitcoin News
Nigerian Currency Falls by More Than 30% After Central Bank Announced New Forex Market Rules

Nigerian Currency Falls by More Than 30% After Central Bank Announced New Forex Market Rules

The Nigerian currency’s official exchange rate versus the greenback recently plunged to NGN634 per dollar from just under NGN470 per dollar. The ce...
Jun, 18, 2023
2 min read
by Bitcoin News