Nigeria is implementing strategies to strengthen the naira against the dollar, aiming to attract foreign investment. These steps include a second naira devaluation, updated rules for money transfer services, and directives to prevent dollar hoarding by banks. The nation’s struggle stems from insufficient dollar earnings against the business sector’s demand, pushing currency trade to informal […]
Related Posts
Ecuador Diversifies Banana Export Strategy Amidst Russian Ban
Following Russia’s halt on some of its fruit imports, Ecuador is urgently seeking new markets for its bananas. This development surfaced after Ecuador declared its intention to transfer Soviet-era arms to the U.S., aimed at supporting Ukraine. Russia, on February 5, barred five Ecuadorian banana exporters due to a fruit fly issue, later extending this […]
Brazil’s Central Bank Eases Entry for Crypto Firms
Brazil’s Central Bank has declared that cryptocurrency firms are free to operate without the need for specific authorization. This covers exchanges, wallets, and service providers. The Bank will release detailed rules later. The current legal provisions are not yet valid. The Central Bank’s notice, number 40,874, explains this. It says that the Bank oversees the […]
Venezuela Opposes Guyana’s Oil Auction in Contested Waters
Venezuela has denounced Guyana’s recent oil auctions in disputed maritime areas. The government calls these activities “unlawful,” citing unresolved boundary issues between the nations. In response, the Venezuelan Foreign Ministry released a statement. It asserts that Guyana lacks sovereign rights over these waters. As such, actions there defy international law without a deal with Venezuela. […]