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| The Nigeria and China Currency Swap: How Much Room? Therefore, in the light of the growing trade between Nigeria and China, the Central Bank of Nigeria (CBN) and People's Bank of China (PBOC) signed a currency swap. The Currency swaps signed between the two lenders of last resort is valued at $2.5 billion, translating to 16 billion Renminbi (RMB).
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| Turkish Lira falls to new record low against dollar over inflation fears The Turkish currency tumbled 1.5 percent to yet another record low against the dollar on May 4 amid nagging worries over rising inflation, while the U.S. currency continued to make broad gains. Inflation climbed to almost 11 percent in April, data showed on May 3, stoked by the lira's fall against the ...
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| Emerging markets wobble: Argentina hikes rates to 40% Investors are flocking to the United States, a move that's causing real pain in some emerging markets. Interest rates hit 40% in Argentina on Friday after a currency slide forced the country's central bank to execute its third rate hike in eight days. Turkey's lira has also fallen sharply in recent days as ...
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