BEAMSTART Logo

Nigerian Currency Recovers Versus US Dollar — Central Bank Says Importers Must Repatriate Forex Earnings

Bitcoin News LogoBitcoin News1w ago

Nigerian Currency Recovers Versus US Dollar — Central Bank Says Importers Must Repatriate Forex Earnings

Quick Summary AI Powered

After touching a new all-time low of N710 per dollar in late July, a new report says the Nigerian currency has rebounded by as much as 10%.

After initially blaming speculators, the Central Bank of Nigeria has said importers who fail to remit forex earnings may be contributing to the naira’s depreciation.

This rebound represents a recovery of approximately 10% from the currency’s late July low of over N710 for every dollar.


More Pictures

Nigerian Currency Recovers Versus US Dollar — Central Bank Says Importers Must Repatriate Forex Earnings - Bitcoin News (Picture 1)

or

Article Details

Author / Journalist: Terence Zimwara

Category: Crypto

Topics: Naira Nigerian National Petroleum Company Cbn Godwin Emefiele Naira depreciation Egboagwu Ezulu Central Bank of Nigeria (CBN) Naira parallel market Economics

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2022-08-06, 00:30:24

News Timezone: GMT +8:00

News Source URL: news.bitcoin.com

Language: English

Reading Time: 3 minutes read

Article Length: 390 words

Coverage Area: Japan

Availability: Desktop Web, Mobile Web

News ID: 116187

View Article Analysis

About Bitcoin News

Bitcoin News Logo

Main Topics: Crypto

Official Website: news.bitcoin.com

Update Frequency: 15 posts per day

Year Established: 2008

Headquarters: Japan

News Last Updated: 10h ago

Coverage Areas: Japan

Ownership: Independent Company

Publication Timezone: GMT +8:00

News Language: English

RSS Feed: Available (XML)

Website Security: Secure (HTTPS)

Publisher ID: #62

Publisher Details

BEAMSTART brings you the latest news, jobs, and events from all around the world on startups, technology, and business. Stay updated with industry news, plug-in to exciting events, and discover incredible career opportunities with the world's most innovative companies.

© Copyright 2022 BEAMSTART. All Rights Reserved.