Naira is becoming the most unpredictable currency in the world
Many challenges are affecting the forex market in Nigeria, causing the naira to becoming the most unpredictable currency in the world.
Temmy Samuel
Naira is becoming the most unpredictable currency in the world
Hello! Happy new week. Did you enjoy your weekend? Yeah, over the weekend, Nairemetrics spoke with Association of Bureau De Change Operators of Nigeria (ABCON) President Aminu Gwadebe during an exclusive chat where he admitted that the foreign exchange (forex) market is facing some challenges. Gwadebe said "the Naira, unfortunately, is suffering an inconsistent journey bedeviled by all kinds of wars ranging from Trade war, rate war and speculative attack and therefore becoming the most unpredictable currency in the world." He explained that the money exchange market (forex) is facing some big problems. He said that when big countries like the US, Europe, and China have weak economies, people trade less, making the market shaky. Also, new rules for money traders mean they have to spend more to follow the rules, making it harder for them to do business. Technology is changing fast, and that also affects how money is traded, he noted. All these things together make the market mo…
About the author
Temmy Samuel
He is a seasoned journalist with extensive experience in consumer tech, economy, finance, business, money and politics. Currently chasing a BSc degree in Accounting.
