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
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 … 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
Prices that are not supported by the Central Bank of Nigeria (CBN) characterized the operation of the parallel market of foreign exchange. The short supply of FX at the official market made the black market so popular that investors patronise it more than the official market because of its accessibility. Disclaimer: There may be a … Read more
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 … 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 … 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
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 is more interested in succeeding Muhammadu Buhari than focusing on its primary role of stabilising … Read more
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 Papua New Guinea have the largest economy in Australia or Oceania. But using United States … Read more
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 seen in our timeline of the official CBN exchange rate at the forex market For the … Read more