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Nigerian Currency Plunges to New All Time Low — Central Bank Blames Speculators

Nigerian Currency Plunges to New All Time Low — Central Bank Blames SpeculatorsThe 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 […]

Price analysis 7/5: BTC, ETH, BNB, SOL, XRP, DOGE, TON, ADA, AVAX, SHIB

Report: Nigerian Central Bank Incentive Scheme Failed to Halt Naira Depreciation

Report: Nigerian Central Bank Incentive Scheme Failed to Halt Naira DepreciationThe 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 […]

Price analysis 7/5: BTC, ETH, BNB, SOL, XRP, DOGE, TON, ADA, AVAX, SHIB