What is a Forex Trading Strategy? A forex trading strategy is a trader’s system to check when to buy a currency pair and then sell that currency pair. The traders use various trading strategies, including technical and fundamental analysis. You can confidently analyze the market and execute your trade with sound risk management techniques through […]
Tag: Currencies
Nigerians will not be able to use their Naira debit cards for international transactions as scarcity of foreign exchange (forex)worsens in Africa’s largest economy and biggest oil exporter, Daily Trust learnt. Some banks have already alerted their customers on the latest development while it was gathered that others are keenly watching activities before implementing the […]
Inflation is a global problem. At the end of August, it was 8.3% in the US and 9.1% in the Euro area. It is 20.3% in Nigeria, 25% in Malawi, and over 30% in Ethiopia and Ghana. The impact on Africa is devastating. The International Energy Agency estimates that by the end of the year […]
The Zim$ official rate inched closer to the parallel market rate Tuesday, in a development which will go a long way to address market distortions. Since the inception of the RBZ Foreign Exchange Auction system back in June 2020, most companies have been raising serious concerns over the widening gap between the official and parallel […]
Los Angeles — Ethereum’s imminent shift to the ‘proof-of-stake’ method looks set to intensify climate pressure on cryptocurrency leader bitcoin No. 2 cryptocurrency to adopt energy-saving protocol ‘The merge’ could cut ethereum’s power use by 99% Move seen piling climate pressure on bitcoin Ethereum, the blockchain underpinning the world’s second-largest crypto token ether, is poised […]
Despite an improved performance of the cedi to the dollar last week, depreciation risks persist. According to the Weekly Currency Report by Databank Research, demand pressures exist. “We reckon the improved Foreign Exchange (FX) supply to cushion the Ghana cedi. Depreciation risks persist with demand pressures still sustained, but we expect these pressures to ease […]
The Zimbabwe dollar has recorded a 6,1% decline on the Reserve Bank of Zimbabwe (RBZ) Foreign Exchange Auction but market watchers have hinted that the development is a good sign which will close the parallel market gap. A trading update released at the close of business Tuesday shows that the value of the local currency […]
The chairperson of the technical committee on currency reform at the Central Bank of Liberia, Musa Kamara says the CBL is set to remove smaller banknotes in circulation and subsequently replace them with a new set of Liberian currency especially, coins. Mr. Kamara made the disclosure during a regular press briefing held at the Ministry […]
In today’s world, trading is one of the top leading businesses in the world. Online investing can be hazardous once in a while. However, in the event that you utilize the right trading site like trading on forex, you can make a few wise speculations. Nonetheless, tracking down the right site to begin your internet-based […]
Khartoum — The Sudanese Pound (SDG) has fallen sharply against major international currencies over the last two days. Traders active on Khartoum’s parallel market ascribe the flux to a scarcity of foreign currency – an ongoing issue in Sudan’s ailing economy, that is driving an increasing number of Sudanese into poverty and hunger. On Sunday, […]
The introduction of the Central Bank Digital Currency (CBDC) will promote financial inclusion and build the digital payment industry, the Assistant Director, Fintech and Innovation Office of the Bank of Ghana (BoG), Mr Clarence Blay, has said. He said the CBDC dubbed E-Cedi was to complement the digital payment services industry and not compete with […]
Kelvin Chamunorwa, UK-trained actuary and founder of Nhaka Life Assurance, was recently adjudged one of the top three performers in the Zimbabwean insurance industry. Six years ago, he gave up a lucrative career as an actuary in London to start a life insurance company, according to his LinkedIn page. A space that was plagued with […]
Consumers have expressed outrage over businesspeople who refuse to reduce or just stabilise prices of basic commodities despite the drop in fuel prices, and the stabilisation of foreign currency rates on the black market following a range of interventions that include the reduction in fuel prices and the introduction of gold coins. The measures have […]
Regulations exist everywhere, and they help prevent abuse of processes. It’s hard to imagine why a billion dollar industry like retail forex trading is left unregulated in Africa. Many forex traders in Africa abide by laws set up and meant for oversea jurisdictions. Firstly, what does retail forex trading mean? It refers to a small […]
Naira, however, weakened in the official market by 0.42 % on Tuesday. Naira gained significantly against the U.S. dollar at the parallel market on Tuesday, after crashing to an all-time low of N710.00 last week. Currency traders in Abuja and Uyo said they bought the dollar at about N635 and sold between N640 and N645 […]
Abuja, Nigeria — Cryptocurrency experts say Nigerians are hedging against the drop in value of their currency, the naira, by trading more dollar-denominated digital assets. The naira has been falling to new lows on the black market in Nigeria, Africa’s largest and most populated economy. But experts say investing in cryptocurrency is also driving the […]
Finance minister Professor Mthuli Ncube is, this Monday, set to meet heads of civil service unions as restive State workers continue to demand US-dollar salaries to cushion against runaway inflation and a collapsing local currency. The meeting was confirmed by Public Service Secretary Simon Masanga in a letter addressed to Cecilia Alexander, chairperson of the […]
EcoCash Holdings Zimbabwe Limited (EHZL) has expressed optimism that the new US$ transfer product introduced recently will be a key market driver which will augment the already growing mobile money business segment. In a recent update Ecocash company secretary, Charmaine Daniels said the product launched in the quarter ended May 31 2022 is set to […]