The GDP of the United States of America contracted by 1.4% in the first quarter of 2022, representing a sharp fall from the 1.7% growth (6.9% annualized) recorded in Q4 2021. On the other side of the divide, the Russian ruble appears to be strengthening despite severe pushback in the shape of the toughest economic sanctions ever imposed on a country.
Here at home, the exchange rate between the naira and US dollar closed at N419/$1 on Friday compared to N418.33/$1 recorded as of the close of trading activities in the previous week.
Nairametrics compiles a list of notable events across macroeconomy, equities market, regulators, and the crypto market that made the headlines during the week.
MACROECONOMY
Exchange rate: Naira closed weaker during the week
- Naira closed weaker during the week compared to the previous week at the official Investors and Exporters window, as the exchange rate between the naira and US dollar closed…
