The continuous and seemingly unending depreciation and instability of the naira vis-a-vis the United States dollar and other foreign currencies have been a source of continual worry

Stock markets powered higher Thursday, extending a recovery on bargain hunting after sharp losses at the start of the week.

The central parity rate of the Chinese currency the Yuan, weakened eight pips to 6.5598 against the U.S. dollar on Wednesday, according to the China Foreign Exchange Trade System.

The yen hit its lowest level against the dollar in two decades on Wednesday, extending recent falls as the gap widens between Japan's ultra-loose monetary policy and US tightening.

An economist, Prof. Mike Obadan, says the “Naira-4-Dollar’’ scheme introduced by the CBN on March 5, 2021 to attract Foreign Exchange is achieving desired results.

The central parity rate of the Chinese currency renminbi, or the yuan, strengthened 13 pips to 6.3664 against the U.S. Dollar Tuesday, according to the China Foreign Exchange Trade System.

Stock markets and the dollar advanced Wednesday with all eyes on the latest US inflation reading as countries battle high prices.

When 12 countries adopted the euro two decades ago, French president Jacques Chirac hailed a Europe that was "affirming its identity and its power".

Afghanistan's currency dived to a record low against the US dollar on Monday, taking its losses over the last week to 30 percent as an economic collapse and humanitarian crisis grip the country.

Wall Street stocks mostly rose and the dollar rallied Wednesday following a heavy load of mostly solid US economic data ahead of a holiday weekend.

Markets mostly fell Tuesday and the dollar extended gains as investors bet on quicker Federal Reserve monetary tightening after boss Jerome Powell was nominated for a second term while oil fell on talk the United States was planning to release some of its reserves.

Increasing political activities will worsen currency crisis, experts have warned.