It is more than six months since Nigerians got the news that the federal government has released the eNaira. Looking back, we see that the ecurrency has not really made the impact that government wanted in the first place. The problem with it is that Nigerians have no need of it. There’s an app released […]
Naira’s poor run against dollar
The Nigerian naira is finding it hard to move solidly against the dollar these past few days. It almost traded at 600 naira to the dollar at the parallel market on Thursday. This is a four month low for the currency, with no indication that it could be better in coming weeks. The apparent reason […]
Currency wars: Yuan continues to fall against the dollar
The Chinese yuan has had a bad run for a long time. But at no time has things got worse as it is right now. China is world’s second largest economy but it has been suffering from the effects of covid lockdown for some time now. Apart from that, investors have been moving money frantically […]
List of banks in Nigeria limiting foreign currency spending on naira cards
Nigerians have now made it so that people in Nigeria who use naira atm cards will no longer be able to spend more than $20 or $50 with it online in a month. Bad news for people who are used to making regular purchases with their cards online, spending in dollar, pounds or euro. Check […]
Dollar remains in pole position – News
Inflation is big trouble these days, and for countries that are contemplating economic growth, inflation appears to be the biggest challenge. There has been news that soon, China may become the largest economy in the world but COVID-19 has been relentless in that country. Supply chain disruptions will increase, demand will be affected negatively, and […]
Euro drops massively against dollar & Russian ruble
It seems the war in Ukraine is wreaking havoc on the euro. Just today, it is revealed the euro fall is a record one judging by its relationship with the dollar for over five years. It is even more surprising that the euro has fallen double digits against the Russian ruble while fell massively after […]
Currency chaos you should know about
We learn about the terrible performance of silver and gold over the past week. For the year, silver is now marginally down. Gold on its part was $14 down this week. It traded at $1915. Remember, it fell too last week. Silver traded at $23.47 recently this week, which shows it down 62 cents, extending […]
Japan – Worst currency crash in 20 years a concern
The weakening yen is the number one concern for the Japanese government. The fall of the currency has made worse the imported inflationary pressures, while there is also growing global commodity and oil costs. Finance minister, Shunichi Suzki revealed that the benefits accruing to the economy is much lower than the damage to the economy. […]
This is the insane reason why Africa prints money from Europe
Can you believe it? Up to 40 African nations go abroad to print their money after many years of independence. Most of these African countries print their money in UK, France, and Germany for some strange reasons. One insane reason is that if a small country prints its own money, it may have more money […]
Rupee falls 14 paise to 76.05 against U.S. dollar
At the interbank foreign exchange, the rupee opened lower at 76.05 against the U.S. dollar, registering a decline of 14 paise over its previous close. On Monday, the rupee rose marginally to 75.91 against the U.S. dollar. “Most Asian and emerging market peers are trading weaker against the US dollar this Tuesday morning, and rebounding […]