News

Nigeria’s Central Bank Readmits Nine Leading Banks to Forex Market

Nigeria’s Central Bank Readmits Nine Leading Banks to Forex Market

A potential financial crisis was averted in Nigeria when the country’s central bank revoked the suspensions of nine leading banks that had been banned from trading in the highly profitable forex market. The banks had been punished for their failure to remit a total amount of $2.12bn in dollar deposits to the government. The money in […]

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Jamaican Central Bank Steps In To Prevent Forex Instability

Jamaican Central Bank Steps In To Prevent Forex Instability

The Bank of Jamaica (BOJ) recently sold US$55 million as part of its ongoing efforts to stabilise the foreign exchange market in the country. The sale was prompted by a fall in the Jamaican dollar’s value to $127 against the US Dollar. The central bank has previously stepped in during April and again in May […]

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Are Forex Market ETFs Ablt to Offer Better Business Opportunities?

Are Forex Market ETFs Ablt to Offer Better Business Opportunities?

Forex market traders have been managing pretty good profits by taking advantage of the spreads between all-time low yields in certain areas, particularly developed ones, and high yields in a few other markets. Traders are increasingly using this carry trade strategy on forex market exchange traded funds (ETFs) to earn substantial amounts of money. As […]

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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 […]

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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 […]

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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 […]

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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 […]

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