Soma hii
"But several months of dollar outflows from the economies of some of Africa’s top investment destinations like Egypt, Nigeria and Kenya, with little or no boost to exports have put a strain on central-bank foreign exchange reserves and left local currencies under immense pressure. The Egyptian pound has lost 20% of its value against the dollar this year while Nigeria’s naira is down 39% since June 14, when the central bank removed the peg against the greenback and unified multiple foreign-exchange rates. The rising costs of living as imports become more expensive in local-currency terms has increased operating expenses for companies, slowed economic growth and discouraged fresh investment. Whether a country maintains currency controls or not, the result is much the same."
https://www.forbes.com/sites/seguno...-inflation-as-dollars-dry-up/?sh=4b1daea555f1
View attachment 87092