Nigeria Devalues Naira on Migration to Single Exchange Rate
May 25 2021, 11:26 PM
May 25 2021, 3:04 PM
May 25 2021, 11:26 PM
(Bloomberg)
(Bloomberg)
Nigeriaâs central bank devalued the naira by 7.6% against the dollar as authorities in Africaâs biggest oil producer migrate toward a single exchange-rate system for the local currency.
The Abuja-based Central Bank of Nigeria replaced the fixed rate of 379 naira to a dollar used for official transactions with the more flexible nafex, also known as the investors and exporters exchange rate that has averaged 410.25 naira per dollar this year, according to data on its website on Tuesday.
âWe found out that we were no longer dealing in this so-called CBN official rate for transactions,â Governor Godwin Emefiele told reporters during the monetary policy briefing earlier on Tuesday. âWe are still running a managed-float, we are monitoring the market and seeing what is happening for us to ensure that the r
BEIRUT: Lebanon’s Ministry of Health will launch a “vaccination marathon” next Saturday for people aged over 30 to receive Astrazeneca jabs in health centers across the country. In an effort to promote mass vaccination, Lebanese authorities will declare the province where the largest number of people receive vaccinations as the winner of the marathon. A significant number of
LONDON: Britain's foreign minister Dominic Raab said on Tuesday a cycle of violence between Israelis and Palestinians must end as he arrived for talks following the worst outbreak of fighting in years. "I will meet with both senior leaders here and in the Occupied Palestinian Territories on how to make the recent ceasefire lasts," he wrote on Twitter. "We must end the cycle of
LONDON: Indian authorities have warned that big social media platforms that did not comply with new laws issued in the country three months ago may from Wednesday have their operations interrupted. Companies, including Facebook and Twitter, have reportedly failed to abide by rules highlighted in the Gazette of India on Feb. 25 under intermediary guidelines and digital media
Several people hurt after explosion at gas well along Louisiana coast
2 hours 48 minutes 58 seconds ago
Tuesday, May 25 2021
May 25, 2021
May 25, 2021 4:01 PM
May 25, 2021
in
Top Story
Source: WBRZ
Share:
MORGAN CITY - Several workers were hurt after a natural gas well near the coast of Louisiana erupted into flames.
Texas Petroleum Investment Company said the incident happened at a well in the Belle Isle Field. The company said the situation first began Sunday while workers were attempting to plug the abandoned well.
Authorities said they received reports around 3 p.m. Tuesday that as many as eight victims suffered varying burn injuries. They were taken to a dock in Morgan City by boat and are being moved to a hospital from that location.