Experts Fear Cryptocurrency Outflows May Affect Exchange Rates in Brazil
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Analysts believe that, in the future, outflows derived from cryptocurrency purchases could affect the domestic exchange rate in Brazil. The Central Bank…
Zimbabwe Injects $50 Million to Bolster Devalued Currency
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The Reserve Bank of Zimbabwe (RBZ) has injected an additional $50 million into the market to support the foreign exchange system. However,…
Zimbabwe’s Central Bank to Shield Gold-Backed Currency From Market Volatility
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Zimbabwe’s central bank governor, John Mushayavanhu, has stated that the bank might use its foreign currency reserves to protect the Zimbabwe Gold…
Indonesia and South Korea Sign New Local Currency Agreement to Boost Trade
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Bank Indonesia, the Bank of Korea, and South Korea’s Ministry of Economy and Finance have introduced a local currency transaction framework to…
Binance to Convert Delisted Crypto to USDC — Advises Users to Withdraw Affected Tokens Before Deadline
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Crypto exchange Binance has announced the conversion of several delisted tokens into stablecoin USDC. Users are advised to withdraw affected crypto tokens…
Nigeria Acts to Defend Naira After Currency Hits New Record Low
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The Central Bank of Nigeria recently sold U.S. dollars to Bureaux de Change (BDC) at a flat rate of NGN1,450 per greenback….
Designating Crypto as the Bogeyman Will Not Halt the Nigerian Currency’s Depreciation
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Labeling cryptocurrency a scapegoat, similar to blaming parallel market traders for the Nigerian currency’s woes, will not solve the underlying problems. Proactive…
Nigerian Currency Slides 5% After Central Bank Injects More Than $80 Million Into Forex Market
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The Nigerian naira continued with a downward which recently saw it being named the worst-performing currency when it slid by just over…