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3232Nigerian Currency Plunges to New All Time Low — Central Bank Blames Speculators
https://www.digit.info/nigerian-currency-plunges-to-new-all-time-low-central-bank-blames-speculators/
Sat, 30 Jul 2022 07:30:06 +0000https://www.digit.info/2022/07/30/nigerian-currency-plunges-to-new-all-time-low-central-bank-blames-speculators/Read more]]>The Nigerian central bank has accused currency speculators of being behind the local currency’s recent plunge to a new all-time low of N710 against the greenback. The leader of a Nigerian association of bureau de change operators insisted crypto trading may be to blame for the naira’s recent plunge in value. Nigerians Converting to USD […]
]]>Report: Nigerian Central Bank Incentive Scheme Failed to Halt Naira Depreciation
https://www.digit.info/report-nigerian-central-bank-incentive-scheme-failed-to-halt-naira-depreciation/
Thu, 07 Jul 2022 10:30:16 +0000https://www.digit.info/2022/07/07/report-nigerian-central-bank-incentive-scheme-failed-to-halt-naira-depreciation/Read more]]>The Central Bank of Nigeria (CBN)’s attempt to incentivize the country’s forex market through the so-called “Naira for Dollar” scheme has failed. This is evidenced by the local currency’s plunge of more than 25% since the launch of the incentive scheme in March 2021. Naira Depreciation The CBN’s scheme that encourages recipients of cross-border remittances […]
The Nigerian central bank has accused currency speculators of being behind the local currency’s recent plunge to a new all-time low of N710 against the greenback. The leader of a Nigerian association of bureau de change operators insisted crypto trading may be to blame for the naira’s recent plunge in value. Nigerians Converting to USD […]
The Central Bank of Nigeria (CBN)’s attempt to incentivize the country’s forex market through the so-called “Naira for Dollar” scheme has failed. This is evidenced by the local currency’s plunge of more than 25% since the launch of the incentive scheme in March 2021. Naira Depreciation The CBN’s scheme that encourages recipients of cross-border remittances […]