Forex

The naira started facing its toughest time, falling freely immediately after the Bola Tinubu-led government announced the floating of the Nigerian currency in June 2023. Right now, it is $/1,300 at the parallel market, and $/₦1,1328.51 at NAFEX at the close of trading on March 27, 2024. The naira has lost its value, but there are … Read more

Currencies like the US dollar, Pound Sterling, Yen, and Euro among others are known as global legal tender because they are accepted for trade around the world. They are accepted for international transactions, making them make the list of most popular currencies in the World. Some currencies are highly sought after because of the strength they carry in … Read more

What Is An Obsolete Currency? When a currency is no longer in use and can not, therefore, be used as a means of exchange by the country of origin, it is called obsolete currency. In the 1990s, my grandma showed us some currencies that were of significant value during her youthful days. She kept it … Read more

The US Dollars is the most important currency in the global market trade and of course, occupies number one among the strongest currencies in North America when exchanged against the Euro (EUR). Strongest in this context means the value of a currency against one of its competitors in the foreign exchange market. And the fact … Read more

The ruble (RUB), Russia’s currency, seems to be making what monetary analysts described as a limited recovery against the US dollar as the Bank of Russia cut its key rate by 300 basis points from 20 per cent to 17 per cent on Friday, April 8, 2022 At the time of publication, 1 USD exchanged for … Read more

Any company or business that uses foreign currencies as a price tag for goods and services will be sanctioned, including an 18-month jail term, the Bank of Ghana has warned. Unless such body or individuals have written permission from the Ghanaian apex bank, receiving payments in US dollars, Pounds Sterling, Swiss franc, Euro or any other … Read more

The two most economically buoyant economies in North America are the United States of America (USA) and Canada. This doesn’t mean that other countries on that continent are not blessed with resources. The Bahamas is not also doing badly. In fact, it is the richest country in the West Indies and is ranked 14th in North America for … Read more

The Colombian peso isn’t just one of the troubled currencies, but it is also one of the weakest among the South American countries. For instance, it was thought to have hit the lowest in 2015 when just one USD was worth 3,032 COP. But today, it has slipped further 3,748.81 COP to $1. A Glimpse Into USD to … Read more

Europe is an interesting continent consisting Eurozone (countries that adopt the Euro and official currency) and those that have either refused to join Euro-area or are still planning to do so. With this variety of currencies in Europe, there is no uniform exchange rate. While the Great Britain Pounds, Euro, Swiss franc remain the strongest … Read more