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naira depreciation

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Nigeria Acts to Defend Naira After Currency Hits New Record Low

Leave a Comment / Africa, Bitcoin, Crypto Hacked, Cryptocurrency, Ethereum, Exchange rate, Foreign exchange, forex, naira depreciation, US dollars / / / , , , , ,

The Central Bank of Nigeria recently sold U.S. dollars to Bureaux de Change (BDC) at a flat rate of NGN1,450 per greenback. The central bank stated that eligible BDCs can sell the dollars to end-users at a margin of no more than 1.5% above the purchase exchange rate. The Nigerian apex bank disclosed that it […]

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nigeria’s-naira-rated-worst-performing-currency-in-h1-of-2024;-kenyan-shilling-named-best-performer

Nigeria’s Naira Rated Worst-Performing Currency in H1 of 2024; Kenyan Shilling Named Best Performer

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In the first half of 2024, the Nigerian currency depreciated by nearly 40%, making it the worst-performing currency during that period. Meanwhile, the Kenyan shilling appreciated by 20.7%, ranking it as the best performer. The depreciation of the Nigerian naira was primarily driven by U.S. dollar shortages. Naira Falls for 9 Straight Days The Nigerian

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