The strongest currencies in Africa in 2023 in terms of US Dollar exchange rate are Tunisian Dinar, Libyan Dinar, Moroccan Dirham, Ghanaian Cedi, Seychellois Rupee, Botswana Pula, Eritrean Nakfa, Namibian Dollar, Lesotho Loti, and Swaziland Lilangeni. In this post, we will compare currencies in Africa against the United State dollar and come up with the 15 most valuable currencies on the continent … Read more
The Nigerian Naira is one of the worst-performing currencies in Africa, no thanks to the parasitic leadership who has no economic direction. Even as foreign investors continue to pull out of the Nigerian stock market, those at the helm of affairs continue to bank on speculative data that do not reflect the reality of hardship … Read more
On Thursday, February 10, 2022, the governor of the Central Bank of Nigeria (CBN) disclosed that the apex bank would stop selling forex to banks. The new FX policy, according to Godwin Emefiele, would begin before the end of 2022, calling on the Deposit Money Banks (DMBs) to begin to source forex to meet their obligations. … Read more
The forex allocation for students studying abroad is $15,000 per semester, so what happens if a student exceeded the allocation and needs to meet personal upkeep? We will share with you several alternatives to forex allocation by the Central Bank of Nigeria (CBN). You can use any of the available means to meet your forex … Read more
There are important documents applicants need to submit to the Central Bank of Nigeria (CBN) for the processing of fees for foreign services, such payment is known as invisible transactions in international trade. This isn’t limited to Nigeria. It is a general practice around the world. Foreign invisible transactions are prevalent in Nigeria because of … Read more
Generally, the process of commercial export in Nigeria isn’t as easy as they seem online. There are several challenges from the packaging to the point of export. But the most important thing is for an exporter to play their card in a smart way and prepare ahead for the challenges that may come. For instance, … Read more
The Central Bank of Nigeria (CBN) should adopt a flexible exchange rate that will allow a pricing mechanism strategy that reflects the demand and supply fundamentals in the foreign exchange market. The Centre for the Promotion of Private Enterprise (CPPE), made the call in its 2021 review of the various policies that were introduced by the CBN … Read more
What is Invisible Trade? Payment for services like website design, security consultancy, hotel lodge, medical bills, education fees, and business consultancy are some services that constitute invisible trade because they are services that do not require the transfer of physical objects. How Invisible Trade Work In international trade, invisible trade refers to transactions in foreign … Read more
With the TRMS, the apex bank can monitor applications for dollars in real-time and track applicants with their BVN or TIN.
What is PTA Exchange rate? PTA exchange rate is the USD/NGN prevailing buy and sell market rate at which applicants for Personal Travel Allowance (PTA) and Business Travel Allowance (BTA) who need foreign currencies are ready to pay to meet their FX needs. PTA means Personal Travel Allowance while BTA means Business Travel Allowance for travellers … Read more