Zambian Currency, the Kwacha, Plunges to New Record Low Against US Dollar
Zambia’s worsening shortage of foreign exchange as well as one of its worst droughts in recent memory saw the local currency drop to a record low of K27.3 to the…
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Japanese Yen Tumbles to 34-Year Low Against Soaring US Dollar
This week, the Japanese yen plummeted to its lowest point since 1990 against the U.S. dollar, weighed down by Japan’s monetary policy and uncertain economic indicators from the United States.…
Nigerian Currency Reverses Early April Gains, Depreciating by 12% in Seven Days
The Naira recently depreciated by 12% in just seven days, thus shedding all the gains it made against the U.S. dollar in early April. Local media reports attribute the volatile…
Nigerian Central Bank Governor Denies Using Forex Reserves to Defend Local Currency
The Nigerian central bank governor has refuted claims that the bank is using the country’s foreign exchange reserves to shore up the naira. The governor attributes the decline in reserves…
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Venezuelan Banking Watchdog to Oversee Crypto Transactions to Preserve Currency Stability
Sudeban, the Venezuelan banking watchdog, is currently working on a mechanism to review crypto-related transactions in real-time to control the influence these have on the stability of the exchange market.…
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Argentine Peso Breaks Historic Low Mark as Argentines Hedge Savings in Dollars
The U.S dollar-Argentine peso exchange rate escalated during December, with the Argentine fiat currency reaching new historic lows as citizens ran to exchange their holiday payments for dollars. The U.S.…
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Nigeria’s Rising Inflation and Foreign Exchange Shortages Fueling Devaluation Speculation — IMF Mission
According to the International Monetary Fund (IMF)’s mission concluding statement, Nigeria’s rising inflation rate as well as the continuing shortage of foreign currency are fueling the naira devaluation speculations. To…
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Displaying US Dollar Prices Still Prohibited, Ghanaian Central Bank Tells Actress Lydia Forson
The Bank of Ghana recently warned businesses quoting U.S. dollar prices that the practice is still prohibited and that the cedi remains Ghana’s sole legal tender. The bank said it…
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President Muhammadu Buhari
Nigerian Currency Redesign Controversy: Naira Slips by Almost 20%, Experts See Exchange Rate Reaching 1,000:1 USD Before Year End
The Nigerian currency appeared to accelerate its decline versus the U.S. dollar after it slipped to a new low of 900 naira for every dollar. The currency has continued to…
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Ruble Surges Against Greenback, Ethiopian Birr Exchange Rate Gap Widens; Kiyosaki: The ‘End Is Here’ for Fake Money — Week in Review
Rumors of expanding war, massive inflation destroying people’s purchasing power, and widespread volatility in the world of fiat currencies shaped the news this past week, with similarly dynamic developments in…