Tag
DOLLAR
The exchange rate between the naira and the US dollar fell to N698/$1 on Thursday morning, 25th August 2022.
The Ghanaian cedi has dropped by a whopping 47.10% against the US dollar since the start of the year.
Since the start of August, the naira has continued to rise while holding onto its gains amid weak buying pressures of the dollar in Nigeria's black market.
The exchange rate between the naira and the US dollar appreciated to N669/$1 on Tuesday morning from N692.25/$1 recorded on Monday, 1st August 2022.
Many Nigerians are hedging against collapsing local currency, the Naira, by amassing dollar-denominated digital assets.
Although it is true that many worldwide currencies have declined in value against the dollar, the situation is worse for the naira...
Nigerians are finding it increasingly difficult to access dollars at the Central Bank of Nigeria’s official rate for eligible transactions...
The US FED’s hawkish stance to stamp out rising inflation is likely going to cause some trouble for emerging markets like Nigeria.
The dollar found some footing on Thursday morning after an initial pullback despite the Federal Reserve's hike of interest rate on Wednesday.
In Ethiopia, rising inflation and a scarcity of dollars are driving up the price of US dollars on the black market, encouraging more people to embrace cryptocurrencies.
The dollar rally has reached a 20-year high against the Japanese yen, as investors take a massive short position against the Asian currency.
Russia held nearly a third of the world’s renminbi (Yuan) in reserves by December 2021 amid the decline of the dollar’s share of global foreign-exchange reserves.