Naira devaluation hits cross-border trade as commodity prices surge By Investing.com

[ad_1] © Reuters. The continuous devaluation of the Nigerian Naira, which recently peaked at N2,010 per CFA1000, has significantly disrupted cross-border trade and led to record high commodity prices. The situation has been particularly severe for traders dealing in rice and frozen poultry products at the Seme-Krake border in Lagos. The price of a 50kg

Argentina gov’t moves to calm FX market, pledges no post-election devaluation By Reuters

[ad_1] © Reuters. FILE PHOTO: A one hundred Argentine peso bill sits on top of several one hundred U.S. dollar bills in this illustration picture taken October 17, 2022. REUTERS/Agustin Marcarian/Illustration/File Photo By Jorge Otaola BUENOS AIRES (Reuters) – Argentina’s government intervened in the foreign exchange market on Thursday to tamp down volatility ahead of