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Africa’s worst currency at precipice; Naira risk rises amid #EndSARS

Africa’s worst performing currency at a precipice African nations have continuously taken more and more debt from China for infrastructure development. The day of reckoning is approaching for Zambia, which is set either to default on its international borrowings on Nov. 13 or agree to a restructuring of commitments in tandem with an IMF program. […]

NDFs show weaker Naira as released Nigerians hunt Dollars

NDFs show weaker Naira as released Nigerians hunt Dollars Five-year non-deliverable forwards are pointing to Naira rates at 570 per dollar, tumbling from 413 to the dollar, as Nigerian businesses released from lockdown face a shortage of dollars. Bureau de Changes saw supplies of dollars dwindle as an extended ban on flights reduced dollar inflows […]

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