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0 sats \ 1 reply \ @KenyaCoin OP 27 Jul 2022 \ parent \ on: Bloomberg: Crypto Trades Drive Naira to New Low in Unauthorized Market bitcoin
Another article on the naira crisis:
The national currency, which traded for N670 against the dollar on Monday, has fallen even further by 6.7 percent in two days.
Naira against the dollar at the Investors and Exporters window has decreased from N164 when Godwin Emefiele became governor of the central bank in March 2014 to N430 to a dollar on Wednesday.
In the parallel market, the Naira weakened from N180 to a dollar in 2014 to N710 on Wednesday.
Naira crashes to N710 per dollar https://gazettengr.com/naira-crashes-to-n710-per-dollar/
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0 sats \ 0 replies \ @KenyaCoin OP 27 Jul 2022
If you are in the political elite, you are acquiring dollars at the "official" rate, N430. You can then turn around and sell them at the black market rate, ... now N710.
But blame bitcoin for the crisis.
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