Nigeria foreign exchange market is a decentralized or over-the-counter market for the trading of currencies. This includes the value of Nigeria naira to US dollars, Pounds Sterling and other foreign currencies across the World.
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 …
Why A Strong Dollar Is Bad for Emerging Economies 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 …
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 …
Where Do You See USD to NGN Rate by December 2022: NGN900 or More? 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 …
Did you know that the biggest financial market in the world is the foreign exchange, or FX, market? Forex is a portmanteau of foreign exchange. In simple terms, forex trading means the simultaneous purchase of one currency and the sale of another, wherein the trader bets on whether a certain currency will rise or fall against another. Such trading …
The Most Popular Currency Pairs To Trade In India 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 …
15 Worst-Performing Currencies Against US Dollar Read More »
The operation of the parallel market of foreign exchange is characterized by prices that are not supported by the Central Bank of Nigeria (CBN). The short supply of FX by the apex made the black market so popular that investors patronise it more than the official market. Disclaimer: There may be a slight difference between …
An advisory of a university based in Manchester, the United Kingdom, urging their students to pay up their outstanding tuition fees before the Central Bank of Nigeria (CBN) stops its Form A discounted rate has sparked a reaction from Nigeria’s apex bank. The UK institution was said to have issued an advisory urging students whose …
CBN Form A Discounted Rate: Things Forex Applicants Should Know Read More »
Trading currency pairs in the forex market can be a good way to make extra money. But, just like trading stocks in the stock market, you need to know how to make the right moves in order to avoid losses and increase your chances of making solid returns on the money you have invested in …
Choosing Currency Pairs to Trade in Forex in South Africa Read More »
Now it’s time to fund your dollar card with your dom account to start using it online to pay for services or products, follow the steps below to get started
