Tag: inflows
Business Currency Forex Markets

Currency Predictions for the Week Ahead: Naira, Shilling, and Kwacha Under Pressure, Cedi and Ugandan Shilling Stable – Traders (Reuters)

Currency traders foresee fluctuations in Nigeria’s naira, Kenya’s shilling, and Zambia’s kwacha in the upcoming week, while Ghana’s cedi and Uganda’s shilling are expected to maintain stability, according to Reuters reports. Kenya’s Shilling The Kenyan shilling is anticipated to continue its gradual decline due to heightened foreign currency demand across sectors leading up to year-end. Read More…
Business Forex Top Story

Nigeria Draws $1.41 Billion Inflows as Naira Shifts Gears

In a notable turn of events, Nigeria’s currency market experienced a substantial inflow of $1.41 billion in June, as disclosed by the central bank on Thursday. This surge followed the dismantling of a multiple exchange rate framework that had been artificially propping up the naira’s strength. With the central bank’s June decision to remove foreign Read More…