FOREX Trading

EDITORIAL: Fintech needs steady oversight

The central bank’s quarterly board meeting on Thursday last week yielded little surprise. The benchmark rediscount rate was kept at 1.375 percent for the eighth consecutive quarter and the bank said it would maintain an accommodative monetary policy to ensure price stability, and foster steady economic and financial development. The bank’s policymaking board decided to raise this year’s GDP growth forecast from 2.58 percent to 2.68 percent, citing a better-than-expected first quarter, as well as steady growth in exports and…

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Iran rial plunges to new lows as U.S. sanctions loom

By Reuters Published: 11:31 EDT, 24 June 2018 | Updated: 11:31 EDT, 24 June 2018 DUBAI, June 24 (Reuters) – The Iranian rial plunged to a record low against the U.S. dollar on the unofficial market on Sunday, continuing its slide amid fears of returning U.S. sanctions after President Donald Trump in May withdrew from a deal on Tehran’s nuclear programme. The dollar was being offered for as much as 87,000 rials, compared to around 75,500 on Thursday, the last…

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CBN’s I&E Boosts Foreign Investment in Equities Market by 116%

One year after the introduction of the Investors’ & Exporters’ (I&E) Window by the Central Bank of Nigeria (CBN), Foreign Portfolio Investment (FPI) in the Nigerian equities market recorded a 116 per cent growth year-on-year (YoY) as at end of April, 2018. Total foreign portfolio investment between January and April this year, rose to N504.35billion compared to N233.51billion recorded in the same period in 2017, representing an increase of 116 per cent. Investments by foreign investors in the market witnessed…

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City tycoon says Britain must get right Brexit deal or…

By Press Association Published: 04:19 EDT, 24 June 2018 | Updated: 04:19 EDT, 24 June 2018 The boss of CMC Markets and former Tory party treasurer Peter Cruddas has said Britain should “walk away” unless it can get the right EU deal, and attacked the Lords and rebel MPs for frustrating Brexit efforts. Mr Cruddas – a self-proclaimed major Brexiteer – accused peers of seeking to block Brexit by backing amendments to give Parliament a “meaningful vote” on the final…

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How to get your currency best prepared for your next overseas holiday

SETTING off an overseas adventure can be expensive and often one of the last things on travellers’ minds is exchanging currency. Whether it be taking foreign cash, a travel card or using your own debit or credit card, it’s important to weigh up options before setting sail to avoid getting stung with hefty fees and charges. Here’s what you must consider before boarding your flight or stepping onto that overseas cruise. CURRENCY: The biggest travel mistake travellers can make 1SPENDING…

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Two held with gold, foreign exchange at international airport- The New Indian Express

By Express News Service CHENNAI: Officers of the Customs Department at the Anna International Airport seized gold worth `14 lakh and foreign currency worth `5 lakh. The currency smuggling was detected on Thursday, while gold smuggling was found on Friday, said Commissioner of Customs, Anna International Airport. Abdur Rahim (39), a resident of Chennai, who was bound for Hong Kong, was intercepted on Thursday morning after he cleared the immigration. On search, it was found that he was in possession…

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Ex-Wall Street trader feels the heat at the top of Argentina’s central bank

It wasn’t a falling star Luis Caputo anticipated when he predicted just eight months ago that Argentina would prove the “star of emerging markets for the next 20 years.” But that’s what the former JPMorgan Chase banker confronts now in his new role, after swapping the helm of the nation’s Finance Ministry for that of its central bank. The 53-year-old is tasked with restoring the monetary authority’s credibility after the currency posted the biggest drop in emerging markets and as…

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THE NIGER DELTA IS IMPORTANT FOR NATIONAL DEVELOPMENT – Wike  (Attach picture caption & Madam  Voice) – ScanNews Nigeria

GOVERNMENT OF RIVERS STATE OF NIGERIA OFFICE OF THE DEPUTY GOVERNOR   Press Release     THE NIGER DELTA IS IMPORTANT FOR NATIONAL DEVELOPMENT – Wike   The Rivers State Government says the Niger Delta is the main area and region for oil production and development in Nigeria.   Governor Wike stated this during the launch of “Defiant Embers” a documentary highlighting the economic opportunities in the Niger Delta, organized by the British High Commission in Nigeria at Hotel Presidential in Port Harcourt,…

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Algeria´s forex reserves fell by $7.3 billion in…

By Reuters Published: 12:16 EDT, 23 June 2018 | Updated: 12:16 EDT, 23 June 2018 ALGIERS, June 23 (Reuters) – Algeria’s foreign exchange reserves fell by $7.3 billion in the first five months of this year and are expected to decline by $5 billion from now until the end of the year, Prime Minister Ahmed Ouyahia said on Saturday. “Reserves stood at $90 billion at the end of May and should decline to $85 billion by the end of 2018,”…

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A New Day Dawns – Zimbabwe Situation

Zimbabwe is caught up in election fever, especially the national leadership. However, it’s not the outcome of these elections that concerns me – it’s what will happen after the elections. The Party Manifestoes give very little indication of what will happen – they are full of promises that can never be met and talk of policies that are either impracticable or unaffordable. Very little of any real substance and you can see that in the national discourse that is taking…

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Advice to MDC Allians:Know what to oppose and what to support

The opposition politicians must know what to oppose and what to support unless if they want to lose respect in the eyes of the citizens . There are people who just oppose something without reasoning simply because the idea has come from a woman or enemy.The Tendai Biti attack on the $100M private sector loan to Zimbabwe by Britain’s CDC and Standard Chartered Bank is misplaced and not thoughtful. Tendai Biti said that this loan should only have come after…

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J$131.21 to one US dollar

KINGSTON, Jamaica — The US dollar on Friday, June 22, ended trading at J$131.21 down from J$132.05 according to the Bank of Jamaica’s daily foreign exchange trading summary. Meanwhile, the Canadian dollar ended trading at J$100.02 down from J$100.45 while the British pound sterling ended trading at J$174.50 down from J$175.71. Source link

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SBP revises manual for open-market foreign currency dealers

All buy and sell transactions in foreign currency equivalent to $500 or above would require exchange companies to obtain and retain copies of identification documents. PHOTO: FILE KARACHI: The State Bank of Pakistan (SBP) revised the manual containing laws for foreign currency dealers in the open market on Friday. The exercise is aimed at consolidating amendments made from time to time in the Foreign Exchange Manual since its issuance in 2017. The step has been taken ahead of a crucial meeting…

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Ronald Reagan’s SoCal home from his acting days hits market at $7M

window._taboola = window._taboola || []; _taboola.push({ mode: ‘thumbnails-c’, container: ‘taboola-interstitial-gallery-thumbnails-5’, placement: ‘Interstitial Gallery Thumbnails 5’, target_type: ‘mix’ }); _taboola.push({flush: true}); window._taboola = window._taboola || []; _taboola.push({ mode: ‘thumbnails-c’, container: ‘taboola-interstitial-gallery-thumbnails-9’, placement: ‘Interstitial Gallery Thumbnails 9’, target_type: ‘mix’ }); _taboola.push({flush: true}); Photo: Hulton Archive/Getty Images; Realtor.com One of President Ronald Reagan’s former homes in Los Angeles (from his acting days) is now for sale for $7 million. One of President Ronald Reagan’s former homes in Los Angeles (from his…

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GLOBAL MARKETS-Global shares climb, oil prices jump on OPEC news

* Graphic: World FX rates in 2018 tmsnrt.rs/2egbfVh * U.S. stocks rise, MSCI world index up, but still down for week * Euro rises after German, French business activity data * Trade concerns continue; Oil rises sharply on OPEC news (New throughout, updates prices, market activity and comments to late afternoon) By Sinéad Carew NEW YORK, June 22 (Reuters) – World shares rose on Friday but stayed on track for their biggest weekly decline in three months as global trade…

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