Currency News: Speculation About The Nigerian Naira’s Devaluation
Many in Nigeria are worried that their government will let the naira weaken.
Many in Nigeria are worried that their government will let the naira weaken.
When People’s Bank of China devaluated the Yuan by more than 3 percent, the common feelings around global markets was that a currency war had just started.
According to Ma Jun, chief economist at China’s central bank, the yuan will probably move in both directions in the future following last week’s devaluation as the economy stabilises.