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Nigeria deploys trillion-Naira bazooka; SA awaits Moody’s verdict: AZA FX Week Ahead

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Nigeria deploys trillion-Naira bazooka As we predicted here last Monday, the Naira recouped some of its losses and appreciated 1.4% against the dollar for the week. However, the pressure is mounting again with Covid-19 closing the country’s borders and driving up food prices. New data showed annual [CHK] inflation started to pick up in February […]

Naira recoups losses; East African currencies remain stable amidst COVID-19

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CBN bares teeth to end Naira spiral; expect further recouping of losses Assurances from the Central Bank of Nigeria that it is not the verge of devaluing the Naira and that it was investigating those creating “panic” on potential charges of “economic sabotage” went some way to paring 9% declines against the dollar last week. […]

Oil plunge will hurt Naira; Recession pressure for Rand

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Oil price plunge sets Naira on course for further weakeningToday’s 30% crash in global oil prices sets the Naira on course for further depreciation. The price of crude today plunged by almost a third, the steepest one-day decline since the 1991 Gulf War, to the lowest level in four years. As predicted last Monday, the […]

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