Close
Market Views

THIS WEEK: US FED’s hawkish stance threatens the Naira as crypto market continues downward trend

Here is a compilation of this week’s notable happenings in the Nigeria macro-economic space, markets, regulators as well as in other world economies.

Research Team

1 min read

Google LogoFollow Us on Google Discover
NGX closes positive as investors gain N272 billion

This week, the United States Federal Reserve raised its target interest rate by 75 basis points (0.75%) leading experts to believe that the Naira would depreciate further.

Also, the entire cryptocurrency market capitalization falls below the $1 trillion mark as the market selloff intensifies with Bitcoin falling below the $25,000 support zone, a price point not traded since December 2020.

RELATED TAGS

Google LogoFollow Us on Google Discover

Telegram Channel

Follow Nairametrics


Comments 1

  1. Mejabi Babatunde

    its worth mentioning that, the bearish effect is across the board. No place to confirm as a save Exchange for the majority, but I believe the minority are really thinking about the direction of the flow of the Fiat.

    Reply

      2. Warning: Undefined variable $post_id in /var/www/nairametrics/wp-content/themes/nairametrics/comments.php on line 134

      Warning: Undefined variable $post_id in /var/www/nairametrics/wp-content/themes/nairametrics/comments.php on line 134

      Leave a Reply

      Your email address will not be published. Required fields are marked *

Related Stories