When you are interested in trading foreign exchange, it is essential to choose brokers that are dependable and viable, and it is prudent to steer clear of those who are not. Before putting a significant amount of money into a broker’s account, there is a sequence of actions that need to be completed first. This… Continue reading Is it Possible that Your Forex Broker is Fraudulent?
Tag: FX
At Investors’ Window, Naira Appreciates 0.08%
By Adedapo Adesanya The Nigerian Naira recorded a better performance against the United States Dollar at the Investors and Exporters (I&E) segment of the foreign exchange (forex) market on Wednesday, April 6. This was because the local currency appreciated by 0.08 per cent or 33 kobo to close at N416.50/$1 compared with the preceding session’s… Continue reading At Investors’ Window, Naira Appreciates 0.08%
Naira Falls to N416.50/$1 at Spot Market
By Adedapo Adesanya The Naira depreciated against the Dollar at the first session of the week at the Investors and Exporters (I&E) segment of the foreign exchange (FX) market, trading at N416.50/$1 compared with N416.33/$1 it was exchanged last Friday. This indicated that the exchange rate of the domestic currency at the spot market declined… Continue reading Naira Falls to N416.50/$1 at Spot Market
Naira Sustains Stability Against Dollar, Trades N415.10/$1
By Adedapo Adesanya For the fourth straight session, the Naira traded flat against the US Dollar at the Investors and Exporters (I&E) window of the foreign exchange (FX) market on Wednesday. The Naira, despite coming under a significant forex demand yesterday at the market, it maintained its stability against the greenback to close at N415.10/$1,… Continue reading Naira Sustains Stability Against Dollar, Trades N415.10/$1
Naira Settled Currency Futures Records Highest Daily Trading Volume in October
By Quantitative Financial Analytics The daily trading volume of Nigeria Settled FX currency futures has plunged over the past weeks as the original excitement that greeted its introduction appears to have waned. An analysis of the open interest reports issued by the FMDQ indicates that the currency futures market had momentum, going by the notable… Continue reading Naira Settled Currency Futures Records Highest Daily Trading Volume in October
First Bank Pledges More World Class Services To Customers
By Modupe Gbadeyanka First Bank of Nigeria has promised to continue to provide world class services and expertise to support its customers. The bank also pledged to keep meeting the financing and banking needs of its customers just as it expressed joy being appointed the sole foreign exchange dealer to licenced Bureau de Change (BDC)… Continue reading First Bank Pledges More World Class Services To Customers
FX Crisis: Guinness Nigeria Picks $95m Loan
By Ebitonye Akpodigha Due to dollar shortages in Nigeria, which has weakened the Naira against the US dollar at the foreign exchange market, Guinness Nigeria has announced receiving a loan of $95 million from its parent company, Diageo. This is to help organisation cope with the adverse effect of the dollar shortages in Nigeria due… Continue reading FX Crisis: Guinness Nigeria Picks $95m Loan
Dangote To Start Selling FX To CBN By 2020
By Modupe Gbadeyanka President of Dangote Industries, Mr Aliko Dangote, has disclosed that his business estate would start selling foreign exchange to the Central Bank of Nigeria (CBN) by 2020. Mr Dangote said this in Lagos on Monday at the Nigerian Economic Summit organised by Economist Events, an arm of The Economist of London. “We… Continue reading Dangote To Start Selling FX To CBN By 2020