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africa drop us dollar pepe unchain Bnb Eth XRP crypto futures coinbase futures binance futures

Does Africa have a dollar shortage?

Across Sub-Saharan Africa, almost everyone is on an endless scramble for dollars. Why is the dollar shortage crisis in Africa getting worse by the day?

Which banks have reduced foreign currency spending limits in Africa?

The likes of GTBank, Zenith Bank and First Bank reduced monthly foreign currency spending limits to $20 and $50 respectively, from $100 previously. The move is indicative of how the banks in Africa's most populous country are struggling to meet dollar demands, amid Africa's worsening foreign exchange crisis.

Why are sub-Saharan African currencies weakened?

Most sub-Saharan African currencies have weakened against the US dollar, fanning inflationary pressures across the continent as import prices surge. This, together with a growth slowdown, leaves policymakers with difficult choices as they balance keeping inflation in check with a still-fragile recovery.

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