Nigeria's currency is expected to have little price swings in the coming weeks, as the lockdown aggravates dollar shortages.
The market responded negatively after British Prime Minister, Boris Johnson was admitted into the Intensive Care Unit yesterday due to complications from Coronavirus.
Nigerian currency traders are refusing to show rates to sell the U.S. dollar after the CBN vowed to crack down on speculators.
The central bank of Nigeria has devalued its official exchange rate from N307/$1 to N360/$1.
Africa’s biggest economy is again reacting to this crisis the same way it did in the past as she failed to stop its currency from devaluing
Association of Bureau De Change Operators of Nigeria has given assurances to the public of continued sale of dollars at the official price
African countries remain largely import dependent and resource driven, despite billions in revenue. This, in turn, means their currencies are closely tied to the US dollar...