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 1, … Read more
Disclaimer: There may be a slight difference between the rate you see on this page and the rate at the parallel market. Here is the updated buying and selling exchange rate at the parallel foreign exchange market of the three most popular foreign currencies in Nigeria: Morning Trading Rate (Dec. 27, 2024) Afternoon Trading Rate … 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
Nigerian currency was stronger than some of the currencies on this list in 2022, but they gained some points over the Naira, following the floating of the Naira by the government. For instance, the Somalian Shilling, which used to be SOS/NGN 78 kobo in 2022 is now N2.49, meaning SOS will buy more Nigerian currency … Read more
The naira started facing its toughest time, falling freely immediately after the Bola Tinubu-led government announced the floating of the Nigerian currency in June 2023. Right now, it is $/1,300 at the parallel market, and $/₦1,1328.51 at NAFEX at the close of trading on March 27, 2024. The naira has lost its value, but there are … Read more