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Gold is strutting its way into record territory, smashing through $3,700 an ounce Wednesday morning, as Sprott Asset Management strategist Paul Wong says the yellow metal may finally snatch the…
The Reserve Bank of Zimbabwe (RBZ) has denied claims that it intends to force recipients of U.S. dollar-denominated remittances to convert their funds into local currency. The central bank clarified…
The Central Bank of Nigeria (CBN) will reintroduce a foreign exchange auction system as part of efforts to ease pressure on the local currency. The CBN has called on authorized…
An International Monetary Fund representative has cautioned that Zambia’s proposed dedollarization initiative may inadvertently undermine efforts to contain inflation. The representative expressed concern that the prevailing economic conditions in Zambia…
In the first half of 2024, the Nigerian currency depreciated by nearly 40%, making it the worst-performing currency during that period. Meanwhile, the Kenyan shilling appreciated by 20.7%, ranking it…
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.…
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…
The U.S. dollar is likely to remain the world’s dominant reserve currency due to the absence of credible challengers. Morgan Stanley suggests that the Chinese yuan, often considered a potential…
The Economic Intelligence Unit has stated that the Central Bank of Nigeria cannot halt the rapid depreciation of the local currency. The continued volatility of the naira is expected to…
A growing number of banking institutions in Russia are offering customers the option to save in Chinese yuan. The trend coincides with declining demand for U.S. dollar and euro deposits…