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Remittances to Nigeria were $17.2 billion in 2020, down 27.7% year-on-year, according to the World Bank, which attributed the decline to a 27% premium on the naira-dollar black market exchange rate and the central bank's directive that local exchange houses pay out remittances in hard currency. Total remittances also declined 2.1% in 2019 versus 2018. Source: spglobal

The dollar fell versus its peers on Monday in a wave of profit-taking after posting its greatest weekly gain in more than two months last week, fueled by concerns over global economic prospects. The global predominance of the Delta coronavirus strain, which is anticipated to impact on European manufacturing survey due soon, is the key source of investor anxiety. Source: Reuters

As Taliban fighters took control of Kabul, the capital of Afghanistan, the country's central bank acting governor had to flee the country. The Afghani fell 1.7% on Tuesday to 83.5013 per dollar, a fourth consecutive day decline according to Bloomberg. Source: Bloomberg

After Turkey's central bank retained its benchmark interest rate, defying President Recep Tayyip Erdogan's calls for a drop, the Turkish lira rose to lead advances among emerging-market peers. The currency gained 1.2% after the Monetary Policy Commitee kept its one-week repo rate at 19% for the fifth month. Source: Bloomberg

Its potential for even more gains remains undiminished as traders say Switzerland’s persistently low inflation makes the franc a reliable store of value. And with the euro area’s monetary policy poised to remain expansionary -- and likely to weigh on the euro -- the Swiss currency’s rally is under no immediate threat. “In real terms, Switzerland’s persistently low inflation renders the currency cheaper compared to 2020’s average, suggesting there is some room for the currency to strengthen in nominal terms without triggering meaningful SNB intervention in FX markets,” said Simon Harvey, senior FX market analyst at Monex Europe. Source: Yahoo/Bloomberg