Search results
Results from the WOW.Com Content Network
When the naira was introduced, it had an official exchange rate of US$1.52 for ₦1, though a currency black market existed in which the naira traded at a discount relative to the official exchange rate. The official exchange rate set by the Central Bank of Nigeria: naira to U.S. dollar is approximately ₦767.54 per 1 US dollar.
But the rise of technology has led to an evolved "black market" -- and rather than exotic animals and tangible exports, data like credit card information and even streaming accounts are up for grabs.
PPP largely removes the exchange rate problem, but has its own drawbacks; it does not reflect the value of economic output in international trade, and it also requires more estimation than nominal GDP. [4] On the whole, PPP per capita figures are more narrowly spread than nominal GDP per capita figures. [5]
The price of petrol has increased from 65 naira ($0.40; £0.26) per litre to at least 141 naira in filling stations [6] and from 100 naira to at least 200 naira on the black market, from which many Nigerians buy their fuel.
A black market in Shinbashi in 1946 Illegal street traders in Barcelona in 2015. A black market, underground economy, shadow market or shadow economy is a clandestine market or series of transactions that has some aspect of illegality or is not compliant with an institutional set of rules. If the rule defines the set of goods and services whose ...
Along with record inflation and a sharp weakening of the currency, the outages have become a potent symptom of the worst economic crisis to hit Egypt since Sisi took power in 2014 on promises of ...
The government raises the subsidized price of a bread loaf for the first time in three decades, from E£0.05 to E£0.20. [ 17 ] Police arrest an Egyptian American TikToker suspected of being a serial killer who killed at least three women after torturing them.
If you’re stuck on today’s Wordle answer, we’re here to help—but beware of spoilers for Wordle 1304 ahead. Let's start with a few hints.