Nigerian Currency Plunges After Central Bank Rate Hike
The Nigerian Naira weakened significantly against the U.S. dollar following the Central Bank of Nigeria’s (CBN) decision to hike interest rates for the fifth time this year. The naira dropped…
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IMF Warns Zambia Against Dedollarization, Calls Plan Counterproductive
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…
Nigeria’s Anti-Graft Agency Announces Reward for Whistleblowers Exposing Local Currency Abusers
The Economic and Financial Crimes Commission (EFCC) in Nigeria has announced a 5% reward for whistleblowers who provide credible information leading to the prosecution of offenders involved in naira abuse.…
Embattled Binance Discontinues Nigerian Naira Services — Users Urged to Convert NGN Balances
Binance, one of the leading crypto exchanges, has said it will discontinue all Nigerian naira services on March 8. The crypto exchange’s decision to drop trading pairs that feature the…
Russian Central Bank Attributes Recent Ruble Depreciation to Lower Forex Sales by Exporters
The Russian central bank has attributed the ruble’s latest plunge against the U.S. dollar to the temporary reduction “in sales of foreign currency earnings by exporters.” The central bank also…
The World’s Weakest Currency, Kiyosaki Says Greenback Is ‘Toast,’ IRS Crypto Tax Update and More — Bitcoin.com News Week in Review
In this week’s hottest stories from Bitcoin.com News: the Ghanaian cedi’s recent slide to a new low against the USD, Rich Dad Poor Dad author Robert Kiyosaki weighs in on…
Japanese Yen Plunges to 32-Year Low Against US Dollar — Another Intervention by Authorities Expected
The Japanese yen’s exchange rate versus the U.S. dollar recently plunged to its lowest rate in 32 years — 147.66 JPY per dollar. The yen’s latest fall comes less than…
Latest Ghana Benchmark Rate Hike the Largest on Record — President Promises Action Against ‘Unacceptable Depreciation of the Cedi’
After seeing Ghana’s inflation rate surge to 31.7% in July, the Bank of Ghana responded by hiking the benchmark interest rate by 300 basis points. In addition to the rate…