Foreign Exchange

There is an update on foreign exchange purchases for Personal Travel Allowance (PTA), Business Travel Allowance (BTA), and payment of foreign medical bills majorly under the Form A FX application. Initially, the processing time for Form A was within four weeks or a month, but the same application will now take at least 120 days … Read more

There are no better ways to describe convenience when sending money to Ghana from the United Kingdom and the recipient gets a credit alert within hours. Why the Ghanaian population in the UK matters The growth of the Ghanaian population in the UK is an opportunity for remittance firms not only to make a profit … Read more

Until the Central Bank of Nigeria (CBN) restricted the operations of some International Money Transfer Operators (IMTOs) on December 17, 2020, it was easy for Nigerians to send money from the United Kingdom to Nigeria. That has now changed, according to a report by Reuters. It’s more tedious to make remittances from the UK to … Read more

Since the beginning of this year, the US dollar (USD) has been constantly increasing in strength and has even been able to rub shoulders with the Euro in value for the first time in so many years. To the US, a strong USD is a blessing, but an economic problem for countries that depend on imports, especially … Read more

If you are planning on traveling abroad for business, tourism, or for research, there are several things you must put in place to have a smooth trip. However, one of the prominent things that must be settled has to do with doing a currency exchange, since you have to spend the currency of that country … Read more

It would have been the craziest thought if anyone ever mentioned in 2015 that a US dollar would be NGN700 when converted to Nigerian Naira in the next seven years. But it has even gone beyond that rate. It is an embarrassing reality today that $1 has crossed NGN800, so where do you see USD … Read more

Research conducted by the influential consumer finance website Moneytransfercomparison.com has found that banks across the Anglosphere are continuing to charge their customers hefty amounts in fees for making international money transfers. Perhaps tellingly, the US banks were the worst offenders levying the highest fees on international bank transfers through a combination of high fixed fees … Read more

The Venezuelan Bolivar, Zimbabwean GRTGS Dollar, Lebanese Pound, Sudanese Pound, and Syrian Pound are the top five worst performing currencies against the US Dollar. In a recent currency watchlist by a professor of applied economics at Johns Hopkins University in Baltimore, Steve H. Hanke measured the depreciation of some currencies around the world from January … Read more