Forex Market – InfoStride News

Daily Forex Turnover Stuck Below $300 Million Post FX Unification Announcement

Temitope Nlewemchi — Thu, 12 Oct 2023 22:36:24 +0000

In Nigeria, the official foreign exchange market has been grappling with a significant challenge—struggling to attain a daily forex turnover exceeding the $300 million threshold, a level last observed during the initial phases of forex unification. This lackluster performance serves as a stark indicator of the waning interest that forex traders have shown in Nigeria’s [...]

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Five Ways To Analyze The Forex Market

Adewale A. — Thu, 22 Dec 2022 18:49:34 +0000

Trading the forex market can be tricky, from understanding how to read currency prices and trading signals to executing effective strategies that manage risk and updating forex news. That’s why it is important for any trader, new or experienced, to know how to analyse the forex market to make well-informed decisions. Let’s look at 5 [...]

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What are the pros and cons of a forex trading career?

Adewale A. — Tue, 28 Jun 2022 17:01:54 +0000

Forex is the most liquid market in the world, which involves a daily exchange of trillions of dollars. A career as a forex trader can be flexible and lucrative. Most people who invest in a foreign exchange or forex trading course deem it a career option that allows easy money-making. Others are attracted to forex [...]

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CBN Pumps $210 Million Into Forex Market

David Folami — Mon, 19 Nov 2018 08:30:12 +0000

Nigeria’s Central Bank (CBN) on Tuesday, injected another $210 million in the inter-bank foreign exchange market to sustain the local currency. The apex bank said the authorised dealers in the wholesale segment of the market received the sum of $100 million while the Small and Medium Enterprises (SMEs) and Invisibles segments were allotted the sum [...]

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CBN’s Intervention In Forex Market Is Not Permanent – Charles Nwaekeaku

David Folami — Wed, 28 Jun 2017 22:08:24 +0000

Prof. Charles Nwaekeaku of Nassarawa State University, says the Central Bank of Nigeria (CBN) interventions in the Foreign Exchange Market (FOREX) is a temporary relief. Nwaekeaku, a lecturer at the Pubic Administration Department, told the News Agency of Nigeria (NAN) in Abuja that CBN might not be able to sustain the interventions. “CBN’s intervention in [...]

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Central Bank of Nigeria Injects $190m Into Forex Market

David Folami — Wed, 14 Jun 2017 11:09:45 +0000

Relentless to achieve convergence of rates between the interbank and Bureau de Change segments of the foreign exchange market (FOREX), the Central Bank of Nigeria (CBN) has injected another 190 million dollars into the market. The acting Director, Corporate Communications, CBN, Mr Isaac Okorafor, in a statement on Monday in Abuja, said 100 million dollars [...]

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Buhari Meets Godwin Emefiele For Update On Forex Market

David Folami — Thu, 04 May 2017 18:08:42 +0000

President Muhammadu Buhari reportedly met with the Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, on Thursday, May 5. The Personal Assistant to the President on New Media, Bashir Ahmad, announced this on Twitter. He said Buhari and Emefiele met at the Presidential Villa, Abuja. According to him, the CBN Governor briefed the [...]

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