Malawi Devalues Currency by 44%

Malawi just devalued its currency - the Kwacha - by 44% against the US$:

https://www.african-markets.com/en/news/southern-africa/malawi/malawi-kwacha-exchange-rate-adjusted-by-44

Zimbabwe Introduces a Gold Backed Digital Currency

Zimbabwe has introduced a gold backed digital currency.

Still government controlled it appears.

How will citizens know the gold is actually there to back the digital currency? 

Will the gold be independently audited?

Nigeria's Central Bank Digital Currency (CBDC) - The Story So Far

The Central bank of Nigeria started incentivising people to use the Nigerian CBDC (eNaria) in October 2021 but a year later only 0.5% of the population had done so. Consequently, in October 2020 the Central bank said that existing paper notes would be replaced by new note from 1 Feb 2023.

On 2 December 2022, by way of another measure, the Central Bank set cash withdrawal limits: ₦100,000 (about $225) per week for individuals and ₦500,000 (about $1,120) for businesses. 

Larger withdrawals were subject to a 5 to10% processing fee. ATM withdrawals were limited to ₦20,000 ($45) per day.  Only ₦200 ($0.45) notes or lower denominations were available from ATMs.

As a result of this eNaria usage has increased from 0.5 percent to 6 percent of the population.

Sources:

www.cato.org

www.armstrongeconomics.com

Argentina Inflation Hits 104%

Reuters reports that inflation in Argentina has reached 104%. The number of people in poverty has in consequence risen to 40%.

And a slightly early video reporting that the government was attempting to use price controls (which forces prices up even further because price controls result in less supply so they are counter-productive):

Lebanon Devalues Currency by 90%

On 1 Feb 2023 Lebanon's Central Bank devalued the country's currency by 90% against the US$.The new exchange rate is 15,000 pounds to the dollar compared to about 1,500 pounds to the dollar previously. The black market rate is about 61,000 pounds to the dollar.

Sri Lanka Food Price Inflation

Food inflation (Y-o-Y) increased to 58.0% in May 2022 from 45.1% in April 2022, while Non-Food inflation (Y-o-Y) increased to 34.2% in May 2022 from 23.9% in April 2022:

https://www.cbsl.gov.lk/en/news/inflation-in-may-2022-ncpi

Lebanon Currency Devaluation

Lebanon's currency has lost more than 90% of its value since 2019:

https://www.reuters.com/markets/rates-bonds/lebanese-cbank-denies-halting-operations-fx-platform-2022-03-09/