Tag
NAIRA
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.
The Association of Bureaux De Change Operators of Nigeria (ABCON) has stated that panic buying is causing the crash of the Naira.
The Central Bank of Nigeria has reaffirmed its commitment to resolving the foreign exchange crisis currently rocking Nigeria.
Peter Obi has urged the government and Nigerians to stop using foreign currencies like US dollars for local transactions.
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...
Cryptocurrency marketplaces, like conventional financial markets, use safe assets as means of exchange, collateral, and a haven during turbulent times.
The CBN has made numerous attempts to defend the Naira, but the currency has massively declined by N29 in the second quarter of 2022.
Buhari expressed confidence in the CBN's ability to tackle Nigeria’s economic problems and also gave a reason for not removing fuel subsidy.
The US FED’s hawkish stance to stamp out rising inflation is likely going to cause some trouble for emerging markets like Nigeria.
The last time the exchange rate had crossed N500 was in early 2017 when it breached that ceiling only to come crashing down after the CBN launched the I&E window.
Since Emefiele took office as the CBN Governor in 2014 to date, Naira's official rate compared to the US Dollar has depreciated from N164 to N419.