African currencies have lost ground against the US dollar this year, further driving inflation in the import-reliant region. Depleting dollar reserves have left policymakers with limited options to arrest the decline.
The Hungarian forint is up 10% against the US dollar this year, with the Czech koruna, Polish zloty and Romanian leu not far away. What is behind the recent boost to the Eastern European currencies and will it last?
Before coins were re-introduced, goods or services were priced in multiples of fives because but since the death of coins and the near extinction of some Naira notes, price levels have been affected greatly, which means no goods could be bought for 1 Naira because no such denomination is available, so lowest-priced goods stayed at 5 Naira and Naira 10 Naira. Is there any possibility that coins or the denominations fast going out of circulation will return stronger in the nearest future?