Volatile Nigerian Currency Rallies 12%, Becomes Best-Performing Currency in April
After months of sustained decline, the Nigerian foreign money has rallied since March and is presently ranked because the best-performing fiat foreign money in April....
Nigerian Central Bank Prohibits Use of Foreign Exchange as Collateral for Local Currency Loans
The Central Bank of Nigeria has barred using international trade as collateral for native foreign money loans. In its April 8 letter addressed to banks,...
Nigerian Currency Depreciation: Central Bank Head Reaffirms Commitment to Reviving Confidence within the Economy
The Nigerian central financial institution stays dedicated to constructing confidence within the financial system however that hinges on the implementation of “bold reforms” and residents’...
Nigeria Forex Crisis: Central Bank Removes Cap on Exchange Rate for International Money Transfer Operators
The Central Bank of Nigeria introduced on Jan. 31 that it had eliminated caps on naira payout charges that worldwide cash switch operators are allowed...
Report: Turkey Exits From Foreign Exchange Protected Deposit Program
On Jan. 1 Turkey ended its two-year-old overseas trade (FX)—protected deposit program in what’s seen as one other step in the direction of a return...
India’s De-Dollarization Push Flounders as Oil Suppliers Cite Rupee Repatriation Concerns
The Indian Oil Ministry just lately acknowledged that the nation’s push to pay for oil with rupees has failed as a result of suppliers aren’t...
Report: Nigerian Currency Plunges to New Low Versus the US Dollar
The official alternate charge of the Nigerian foreign money versus the U.S. greenback not too long ago plunged to a document low of 1,248 naira...
Lesotho’s Entire Payment System Reportedly Goes Offline After Cyberattack
The Central Bank of Lesotho lately confirmed that its fee system was attacked by unknown cybercriminals. The financial institution additionally acknowledged that the ensuing downtime...
Nigerian Central Bank Lifts Forex Restrictions on 43 Items — Market Forces to Determine Exchange Rate
The Nigerian central financial institution mentioned on Oct. 12 that it had lifted international change restrictions imposed on the importation of 43 gadgets. The central...
Nigerian Currency Plunges to New Low, Central Bank Says the Naira Is Undervalued
The Nigerian forex continued its slide versus the buck when it fell to a brand new all-time low of NGN950 per greenback. Folashodun Shonubi, the...