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Currency Devaluation

Inflation Explained: What It Is and Why It Happens

Inflation Explained: What It Is and Why It HappensWhile many are familiar with inflation, which indicates a decline in currency purchasing power alongside a general rise in the cost of goods and services in an economy, there is a common misconception that inflation is natural. In reality, it is largely driven by an increased money supply, manipulation of interest rates, and quantitative easing […]

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Nigeria Bureau De Change Association Boss Accuses Speculators of Destabilizing the Naira— Says Central Bank Funding Will End Currency Woes

Nigeria Bureau De Change Association Boss Accuses Speculators of Destabilizing the Naira— Says Central Bank Funding Will End Currency WoesAccording to the head of the Nigerian group of bureau de change operators, the naira’s continued fall on the parallel market is down to the activities of speculators. However, Aminu Gwadabe, the president of the Association of Bureau de Change Operators of Nigeria (ABCON), suggests that only a “massive funding” of bureau de change (BDC) […]

Telegram Gaming Token Could Surge by Over 40% Based on a Trend Indicator, According to Crypto Analyst

Nigeria Devalues Currency as Central Bank Moves to Unify Exchange Rates

Nigeria Devalues Currency as Central Bank Moves to Unify Exchange RatesIn a possible policy shift, the Central Bank of Nigeria (CBN) recently allowed the local naira currency to briefly drop to a new low of USD$1 for 419.75 nairas on May 14, 2021. However, by close of business the naira had recovered and was trading around 411.25. Before the latest adjustment, the naira had fluctuated […]

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