Naira weakens as dollar extends gains against top currencies

Naira depreciated against the U.S dollar at the Investors & Exporters (I&E) window of the foreign exchange market on Thursday, data posted on the FMDQ Security Exchange webpage where currencies are officially traded showed. The local unit closed at N394.33 at the Thursday trading session, representing N0.08 or 0.02 per cent decrease from N394.25, the rate at which it closed at the previous session.

Investors worry over future of Bitcoin and other cryptos under a Joe Biden Presidency

Global investors and crypto traders are becoming wary of what the future holds for crypto under a Joe Biden Presidency. This is because the person expected to lead the U.S Treasury, Janet Yellen referred to crypto as of “particular concern” when it comes to terrorist financing and money laundering.

Central Bank of Digital Currency to be created?

Every day, it seems, brings a new privately issued crypto-asset to the fore. But the official sector has not gone dormant. Several central banks, including the Bank of Canada, Bank of England, Norges Bank, and Sveriges Riksbank are actively investigating the possibility of issuing central bank digital currency (CBDC).