The Central Bank of Nigeria (CBN) plans to introduce digital currency before the end of the year, its Director Information Technology, Rakiya Mohammed, said on Thursday. Speaking at the end of 306th Bankers’ Committee Meeting, she said the currency will be accessible to all Nigerians. Admitting the risks associated with the proposed digital currency, the […]Read More
The naira last week buckled under the weight of increased dollar demand, depreciatiating in both the parallel market and the Investors and Exporters (I&E) window, even as the nation’s external reserves declined further to $36.12 billion last week. Data from the Central Bank of Nigeria (CBN) showed that the external reserves fell to $36.116 billion Wednesday last week from […]Read More
The Naira, on Monday, gained 50 kobo against the dollar to close at N360. According to the News Agency of Nigeria, the Pound Sterling and the Euro traded at N462 and N411, respectively. At the Bureau De Change segment, the dollar was sold at N360, while the Pound Sterling and the Euro traded at N462 […]Read More
Russia is intensifying efforts to wean its economy off the US dollar as Washington considers tough new sanctions that could deny it access to foreign debt markets and cut its banks from the greenback. President Vladimir Putin has repeatedly slammed the US currency dominance on the world’s stage but the country’s previous efforts to de-dollarise […]Read More
Turkey’s currency dropped again Monday as the country wrestled with a crisis that has rattled markets around the world. The Turkish lira plunged as much as 11% against the dollar after markets opened in Asia before recovering some of its losses in volatile trading later in the day. The lira had already plummeted more than […]Read More
The pound fell has fallen below $1.29 for the first time in almost a year on continuing worries Britain will leave the EU without a trade deal. Sterling also hit a nine-month low against the euro, and was down against the yen and Swiss franc. Bank of England governor Mark Carney said on Friday the […]Read More
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