Foreign Exchange

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Understanding Forex CFD Trading in Nigeria

Forex CFD trading promises opportunity and excitement for those looking to diversify their portfolios and take advantage of the enormous potential of the global currency markets. However, entering this field demands more than desire; it also requires a deep understanding of the regulatory landscape, market nuances and risk management strategies. This article explores all you […]

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Discovering Tools for Successful Forex Trading

Forex traders rely on different tools and resources to navigate the dynamic currency market. These tools provide crucial data, make trading easier, and perform other functions that make them invaluable to modern-day traders. Some of them include trading platforms, charting software, market analysis tools, risk management tools, and economic calendars that all perform different functions

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Dollar to Naira exchange rate Nigeria

11 Factors That May Influence the Value of a Currency

The exchange rate and value of a currency is determined by several factors, including inflation rates, political stability, foreign exchange policy,  interest rates, and demand and supply. Exchange rates impact international trade, especially for a country that largely depends on importation and overall economic stability. Here are the most important factors that can influence the

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Bank of Ghana Sanctions GTB, FBN Over Fraudulent FX Documentation

The Foreign Exchange Trading Licences of Guaranty Trust Bank Ghana Limited (GTB) and FBNBank Ghana Limited have been suspended for a month over breaches of the country’s foreign exchange regulations. In a statement obtained by infomediang.com, the Bank of Ghana (BOG) says the suspension of the FX trading of the two Nigerian-owned banks is for

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Dollar to Naira exchange rate Nigeria

EFCC Officials Raid Abuja Dollar Market With Gun In A Bid To Rescue Naira from Further Fall

The operatives of the Economic and Financial Crimes Commission (EFCC) on Monday, February 19, 2024, resorted to using firearms in their attempt to salvage the Nigerian currency from total collapse. Watch video: They had stormed the Abuja Zone 4 market, popular for foreign exchange trading, and started shooting sporadically at Bureau De Change operators in an attempt to

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CBN Bans Payment of Travel Allowance by Cash as FX Crisis Deepens

As the foreign exchange crisis deepens in Nigeria, the apex bank has directed all Authorized Dealer Banks in the country to stop payment of Personal Travel Allowance and Business Travel Allowance (PTA/BTA) by cash to applicants. In a communique dated February 14 and signed by the Director of Trade and Exchange Department, Hassan Mahmud, the

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CBN Bars WorldRemit, Others From Making Dollar Transfer to Nigerians

WorldRemit, MoneyGram, and other International Money Transfer Operators (IMTOs) will cease releasing dollars or other foreign currencies to Nigerians. Instead, remittances will now be processed and converted to Naira, with the recipient’s account being credited in the local currency. More than 50 licenced IMTOs are operating in Nigeria, they include Sendwave, MoneyGram, WorldRemit, Remitly, and

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Nigerian Banks Block Payoneer From Sending Dollar To Nigeria

Pyoneer can no longer send dollars and other foreign currencies to Nigeria. This change is due to banks in the country implementing the latest foreign exchange guidelines set by the Central Bank of Nigeria (CBN). This marks a departure from previous practices where freelancers could transfer funds from their Payoneer account directly to their domiciliary

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