News

Nigeria Bans Banks From Forex Trading to Ease Dollar Woes

Nigeria Bans Banks From Forex Trading to Ease Dollar Woes

The Central Bank of Nigeria (CBN) is taking a very tough stance on the failure of banks to remit revenues due to the government. Nine banks operating in the country have been banned from participating in the inter-bank forex market because they held back $2.3 billion collectively from the government. The money in question was […]

Read More
 
Ex-Barclays Forex Trader Faces Action for Price Fixing

Ex-Barclays Forex Trader Faces Action for Price Fixing

Christopher Ashton, the disgraced former forex trader at Barclays PLC, is likely to face a fine of $1.2 million in addition to a ban from working in the banking industry on account of his actions including the manipulation of forex pricing. The Federal Reserve Board had released a statement to this effect in an enforcement […]

Read More
 
An Overview of the Daily Forex Trading

An Overview of the Daily Forex Trading

This piece talks about the fundamental analysis of Euros and Dollars. Recently, Chris Williamson, IHS Markit stated that the August flash PMI hints at the steady growth path of the Eurozone. He added that there are hardly any signs of the recovery that are being derailed by Brexit uncertainty. Forex Trading and the Foreign Exchange […]

Read More
 
The US Dollar Closes Higher Pulling Down the Taiwan Dollar

The US Dollar Closes Higher Pulling Down the Taiwan Dollar

The recent news hit saying that the US dollar has risen in comparison to the Taiwan Dollar. The US Dollar has gained NT$0.06 to close at NT$31. According to the dealers, the weakness of other currencies of the world has resulted into the increase in the US unit. In addition to this, local equities have […]

Read More
 
Nine Nigerian Banks Banned from Forex Trading and Their Reactions

Nine Nigerian Banks Banned from Forex Trading and Their Reactions

The news came as a shock when the Central Bank of Nigeria (CBN) banned nine local banks from forex trading. CBN has banned these banks until the time they are going to pay the entire outstanding funds of Nigerian National Petroleum Corporation, NNPC into the Treasury Single Account (TSA). According to the news, these nine […]

Read More
 
An Insight into the Rising Dollar and Its Expected Effects – Janet Yellen’s Guidelines

An Insight into the Rising Dollar and Its Expected Effects – Janet Yellen’s Guidelines

According to the media, the dollar has risen in thin trading. No doubt, it signifies a rush in the US new home sales. It is known that the policymakers from around the world are soon going to assemble in the U.S. mountain resort of Jackson Hole. The entire investors will meet with an expectation to […]

Read More
 
Dollar Famine Causes Naira to Weaken

Dollar Famine Causes Naira to Weaken

The Naira will continue its downward trend this week on account of a constriction in supply of dollars thanks to a lack of interest from overseas portfolio investors. Potential investors prefer to adopt a wait and watch policy until the economy recovers because of justifiable worries that they won’t be able to find people willing […]

Read More