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Oil Producers Currency Collapse Continues, Nigeria's Naira Crashes To Record Low Against Dollar
Wednesday, January 21, 2015 9:18
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Having proclaimed it is not Zimbabwe, Nigeria's currency is starting to look a lot like a hyper-inflating mess. After devaluing to a 168 peg in November, the Naira has crashed to 200 / USD today – smashing above the upper peg band of 176 as it appears Nigeria is losing control.
The collapse of Oil Producer currencies had abated for a week or two but the last 2 days have seen the Ruble and Naira tumble (even as The USDollar weakens modestly ahead of the ECB QE tomorrow) …. http://www.zerohedge.com
Source: http://luismmx.blogspot.com/2015/01/oil-producers-currency-collapse.html
