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[Webinar] United States of Naira: What Price For Unification?

Nigeria’s central bank has begun the journey from multiple official and unofficial exchange rates to a single unified value. It’s a radical departure that the IMF and investors have long advocated. But how much difference will a unified rate make to foreign investment, international trade and borrowing costs? And how much further does the official […]

ECO currency planning; Naira rates unification; Kenya negative outlook

ECO currency planning resumes after COVID lull Planning for the new West African ECO currency resumed from a lull since the COVID-19 outbreak, with member states working on terms of engagement. In its second ordinary meeting this year on Monday, the Central Bank serving the eight CFA franc member countries – the Monetary Policy Committee […]

Increased Pressure on African Currencies Amidst COVID-19 Chaos

Nigeria in lockdown faces bank pressure The Naira tumbled to its weakest level in 5 years in the parallel market at 415 per dollar, widening the gap with an official rate of 386 (See: current naira to dollar exchange rate). With 14-day lockdowns announced last week for Lagos and Abuja hitting productivity, banks came under […]

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