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.
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 …
When Is CBN Ending Form A Discounted Rate for Foreign Students? 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 …
Choosing Currency Pairs to Trade in Forex in South Africa Read More »
With the current dollar spending limit on Naira debit cards, it becomes extremely difficult for Nigerians who pay for foreign services online to renew their services. But the best solution is to apply for a foreign currency card, especially for …
How To Top Up Dollar Card in Nigeria with Domiciliary Account Read More »
As the 2023 presidential election becomes intense by the hours, it is clear that the political audacity of the governor of the Central Bank of Nigeria (CBN) Godwin Emefiele will cause more havoc to Nigeria’s monetary system. The CBN governor …
The most-traded currencies for global transactions in Oceania are the Australian Dollar (AUD) and the New Zealand Dollar (NZD). Not just on the continent, they are the fifth and 10th on the global ranking. Also, Australia, New Zealand, and New …
In 1972 1USD was just 0.658 naira at the official market rate. For 13 years, USD/NGN at the forex market remained under NGN1. That was the time the Nigerian currency was the pride of every Nigerian as this can be …
26 Africa Currencies That Are Stronger Than Naira Read More »
In the 1970s, the Nigerian currency was strong that it was more valuable in the foreign exchange market than today’s almighty Pounds Sterling and the United States dollar. That was when the leadership of Nigeria should have concentrated more on …
26 African Currencies That Are Weaker Than Naira Read More »
On February 11, 2022, the governor of Central Bank of Nigeria disclosed that the apex bank would stop the sales of forex to commercial banks in the country by the end of 2022. The statement by Godwin Emefiele sends a strong …
Cryptocurrency Peer-To-Peer trading in Nigeria continues to surge. And of course, that has impacted the exchange rate on popular P2P platform in Nigeria. At the time of publication, a US dollar is worth between NGN590 to NGN591 on Binance P2P …
Some currencies are highly sought after because of the strength they carry in buying and selling in the global market. They play a dominant role in the foreign exchange market. They are referred to as global or reserve currency. Currencies …
The US Dollars is the most important currency in the global market trade and of course, occupies the number one among the strongest currencies in North America when exchanged against the Euro (EUR). Strongest in this context means the value …
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 …
Ruble Gains Against US Dollar As Bank of Russia Cuts Key Rates 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 …
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, …
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. …
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 …
The naira is a legal tender of Nigeria. It uses ₦ (sign) and NGN (code). The Nigerian currency is in coins and banknotes. But the coins have died a natural death due to high inflation making them lose their total value and relevance in the economy. …
There are different ways to measure the strength of a currency. If it’s by the purchasing power, the strength of money can not be the same even if five countries use the same currency. In this article, we measure the exchange …
Do you know that not all members of the European Union (EU) adopt the Euro as official currency or as their second currency? The EU is a political and economic union that has a total area of 4,233,255.3 km² and …
19 EU Countries That Adopt Euro As Official Currency (Eurozone) Read More »
When the European Union (EU) was founded on November 1, 1993, the union was not designed with microstates in mind. No wonder the EU only recognises 27 countries as its members. But there are some independent tiny countries that adopt …
5 Non-EU Member Countries That Use Euro As Currency Read More »
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