Everything You Should Know About Foreign Exchange
Previously, Foreign exchange was just a concept for governments, large companies, and hedge funds, however, in today’s world, foreign exchange has become so accessible to everyone as many investment companies now offer the chance for individuals to open accounts and trade currencies anytime they choose. Read more about Finance Foreign exchange is the conversion or […]
Earn In Dollars With These Four Investment Apps
In the past, earning in foreign currency was something only the wealthy could do. They had access to international markets, so they could invest in assets located outside of Nigeria’s borders. Thanks to digital technology, regular people can put their money into those assets and earn in foreign currency as well. They, like the […]
InvestNow Lets You Buy Shares Online With as Little as ₦10,000
We know that it’s a bad idea to ‘save’ money by stashing it under a mattress. If it lies dormant, it’ll lose value. That’s a basic rule. If you really want to save money, you’ll have to ‘grow’ it. In other words, you’ll need to invest it in something. Thankfully, there are numerous investment opportunities […]
Banks To Set Up Foreign Exchange Outlets at Major Airports
The Central Bank of Nigeria has announced a new set of measures aimed at increasing the availability of foreign exchange to Nigerians. The apex bank made its new policy drive known through a press release issued on Monday and signed by its Acting Director of Corporate Communications, Isaac Okorafor. In it the regulator indicated that […]
CBN Bans Street Trading of Foreign Exchange from Jan 1, 2016
In the Bank’s latest official circular, the Central Bank of Nigeria has announced its decision to ban the hawking of foreign exchange on streets as from January 1st, 2016. This is a practice commonly used by many Nigerians in preparation for journeys abroad, most of whom reside in the urban hubs of Lagos, Abuja and Port […]
Nigeria May Review Foreign Exchange Policy – Prof. Yemi Osinbajo
The Nigerian government has announced that it is in the process of reviewing the recent foreign exchange policy, which banned 41 items from sourcing foreign exchange from the interbank forex market. According to THISDAY, President Muhammadu Buhari, who was represented by Vice President Yemi Osinbajo, at the 43rd Annual General Meeting (AGM) of the Manufacturers’ […]
China Slowdown Weighs Heavily on the Market
The markets opened this week with freshly disappointing news from China showing manufacturing levels have slowed for the third consecutive month. The HSBC and Markit purchasing managers index showed a reading of 48.1 in March, with anything below 50 indicating contraction. This was the lowest reading in eight months and signals the second largest economy […]
Market Instability Boosts Safe Haven Assets
The market has started the week with inherent risk aversion primarily linked to the uncertainty around the Ukraine-Crimea crisis and the concerns that the West will impose heavy sanctions on Russia. With the weekend’s referendum condemned as illegal by the US and the EU, the markets reflected their concerns regarding instability in the region with […]
Investors Turn to Safe Havens After Shock China Trade Deficit
The market opened negatively this week on the back of shocking news from China where a trade deficit of -$23 billion was announced. This was largely influenced by a huge drop in exports of -18.1% year-on-year – the biggest drop in Chinese exports since 2009 – and resulted in the yen strengthening against the US […]
FXTM Inaugurates Forex Demo Contest
Forex trading is about to take on an exciting competitive edge as global broker Forex Time Ltd (FXTM) has announced yet another step in the company’s international expansion with the launch of the company’s first forex demo competition, The Forex Factor. The Forex Factor is especially suited to new traders or those who would like to improve […]