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3232Report: Bank of America Economist Predicts 20% Devaluation of the Nigerian Currency in 2023
https://www.digit.info/report-bank-of-america-economist-predicts-20-devaluation-of-the-nigerian-currency-in-2023/
Fri, 21 Oct 2022 08:30:53 +0000https://www.digit.info/2022/10/21/report-bank-of-america-economist-predicts-20-devaluation-of-the-nigerian-currency-in-2023/Read more]]>A Bank of America economist, Tatonga Rusike, has said the Nigerian currency is overvalued by as much as 20% and will likely be devalued in 2030. The remarks by the economist came just days after the currency’s exchange rate reportedly touched a new low of just under 750 naira for every U.S. dollar on the […]
]]>Forex Shortages Blamed After Nigerian Currency Hits New Low Versus the US Dollar
https://www.digit.info/forex-shortages-blamed-after-nigerian-currency-hits-new-low-versus-the-us-dollar/
Mon, 03 Oct 2022 07:30:48 +0000https://www.digit.info/2022/10/03/forex-shortages-blamed-after-nigerian-currency-hits-new-low-versus-the-us-dollar/Read more]]>A surge in the demand for foreign exchange and the general scarcity of the resource may be the reasons why the naira currency recently slumped to a new all-time low of 735 versus the U.S. dollar, a report has said. One Nigerian currency dealer said he expects the naira to further depreciate to 750 per […]
]]>Chinese Central Bank Says It Will Prioritize Stabilizing Currency After Yuan Plunges to 14-Year Low Versus USD
https://www.digit.info/chinese-central-bank-says-it-will-prioritize-stabilizing-currency-after-yuan-plunges-to-14-year-low-versus-usd/
Thu, 29 Sep 2022 20:30:30 +0000https://www.digit.info/2022/09/29/chinese-central-bank-says-it-will-prioritize-stabilizing-currency-after-yuan-plunges-to-14-year-low-versus-usd/Read more]]>Moments after the Chinese yuan’s onshore exchange rate versus the U.S. dollar slumped to 7.2458 per dollar, the Peoples Bank of China responded by stating that it will prioritize stabilizing the currency. Similar to other currencies that have been depreciating against the dollar, the yuan has now lost 12% versus the greenback so far this […]
]]>Nigerian Inflation Rate Rises to 20.52% in August — Month-on-Month Rate Drops
https://www.digit.info/nigerian-inflation-rate-rises-to-20-52-in-august-month-on-month-rate-drops/
Mon, 19 Sep 2022 08:00:05 +0000https://www.digit.info/2022/09/19/nigerian-inflation-rate-rises-to-20-52-in-august-month-on-month-rate-drops/Read more]]>While Nigeria’s year-on-year inflation rose for the seventh straight month to 20.52% in August 2022, the latest data from Nigeria’s National Bureau of Statistics shows that the month-on-month rate declined from 1.82% to 1.77% during the same period. The depreciation of the local currency, disruptions in the supply of food products, and an increase in […]
A Bank of America economist, Tatonga Rusike, has said the Nigerian currency is overvalued by as much as 20% and will likely be devalued in 2030. The remarks by the economist came just days after the currency’s exchange rate reportedly touched a new low of just under 750 naira for every U.S. dollar on the […]
A surge in the demand for foreign exchange and the general scarcity of the resource may be the reasons why the naira currency recently slumped to a new all-time low of 735 versus the U.S. dollar, a report has said. One Nigerian currency dealer said he expects the naira to further depreciate to 750 per […]
Moments after the Chinese yuan’s onshore exchange rate versus the U.S. dollar slumped to 7.2458 per dollar, the Peoples Bank of China responded by stating that it will prioritize stabilizing the currency. Similar to other currencies that have been depreciating against the dollar, the yuan has now lost 12% versus the greenback so far this […]
While Nigeria’s year-on-year inflation rose for the seventh straight month to 20.52% in August 2022, the latest data from Nigeria’s National Bureau of Statistics shows that the month-on-month rate declined from 1.82% to 1.77% during the same period. The depreciation of the local currency, disruptions in the supply of food products, and an increase in […]