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Difference between Devaluation and Depreciation of Currency

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Before we go ahead with the topic, it will be necessary to understand the exchange rate system that prevails among different currencies.they are of two types namely ;   A fixed exchange rate A floating exchange rate or fluctuating exchange rate A fixed exchange rate :  (also called as pegged exchange rate,) is a type of exchange rate regime where a currency's value is fixed against either the value of another single currency, or to a basket of other currencies, or to another measure of value, such as gold.  In a fixed exchange-rate system, a country’s central bank typically uses an open market mechanism and is committed at all times to buy and/or sell its currency at a fixed price in order to maintain its pegged ratio and, hence, the stable value of its currency in relation to the reference to which it is pegged.   Depreciation  and  devaluation  are sometimes incorrectly used interchangeably, but they always refer to values...
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MYSTERYS SURROUNDING LOST MALAYSIA AIRLINE

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More than 100 days since  Malaysia Airlines Flight MH370 carrying 239 passengers and crew disappeared on 8 March, 2014 , shortly after taking off from Kuala Lumpur bound for Beijing, a new report has revealed that the passengers and crew of the Boeing 777 most likely died from suffocation. According to the new report released by Australian officials on Thursday, 26 June, 2014, the passengers and crew of the ill fated flight mostly likely died through suffocation and coasted lifelessly into the ocean on autopilot. In a 55-page report, the Australian Transport Safety Board outlined how investigators had arrived at this conclusion after comparing the conditions on the flight with previous disasters. The report narrowed down the possible final resting place from thousands of possible routes, while noting the absence of communications and the steady flight path and a number of other key abnormalities in the course of the ill-fated flight. “Given these observatio...
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OBA AKINOLU AND THE LAGOS LAGOON

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Lagos-based lawyer and Industrialist Chukwudi Atueyi yesterday gave vivid details of what transpired at a meeting between some Igbo leaders and Oba of Lagos Rilwanu Akiolu, following which the traditional ruler was alleged to have made a controversial coment about the Igbo. Atueyi, who regretted the uproar that followed the meeting, said Oba Akiolu’s statement was not directed at the Igbo in Lagos but jocularly to his Igbo friends that visited him. He said: “All the Eze Ndi Igbo honorary chiefs in Lagos went to pay the Oba a solidarity visit on Sunday and I was fortunate to be among those present. What the Oba said was fully and simply directed to only the Igbo present at the meeting who his majesty considered to be very close to him and should understand him well enough. “You know when one talks to his very close friends and subjects, he tends to be very free with them, so he was being very free with those present at the meeting and wanted us to realize how serious and close...
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