Keeping up with data collection, capture, normalization and storage is an enormous task. In the best-case scenario, central banks systematically collect structured data electronically through reporting systems and directly from banks, brokers and market data feeds. However, in many instances, data collection is ad hoc, poorly structured, or in a non-electronic form. Leveraging Technology for Central Bank Surveillance | Nasdaq
Central bank digital currencies (CBDCs) may signal the end of physical cash and thus propel interest in cryptocurrency from the darker side of society, according to Mike Dolan, editor-at-large for finance and markets at Reuters.
According to data from OANDA, a foreign exchange brokerage, for the period 1 December to 5 December 2020, the Nigeria price of the US dollar fell 0.060% from 378.373 NGN to 378.145 NGN. The Nigeria price for the euro, British pound, and the yuan saw increases, however. The Nigeria price of the euro increased from 453.889 NGN to 458.285 NGN (0.969%) while the Nigeria price of the British pound increased from 506.130 NGN to 507.890 NGN (0.348%)
During the same period, the Nigeria price of the China’s yuan increased from 57.6594 NGN to 58.0075 NGN (0.604%).
As of 3 December 2020, the Bank of Nigeria reported that its interbank mid-range foreign exchange rate for the U.S dollar was 379.50 NGN while the interbank exchange rate for the euro came in at 460.375 NGN and the price for the British pound was 509.9342 NGN. Meanwhile the interbank foreign exchange rate for the Chinese yuan came in at 57.9137 NGN.
Nigeria’s interbank interest rate as of 2 December 2020 is .50.
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