FOREX Trading

Nation Newspaper Nigeria – Political spending may threaten Naira stability in 2018 – ABCON | Nigerian Bulletin

​ Alhaji Aminu Gwadabe, President, Association of Bureau De Change Operators of Nigeria (ABCON), has warned that spending by politicians ahead of the 2019 General Elections may threaten the stability of the naira. Gwadabe told the News Agency of Nigeria (NAN) on Sunday in Lagos that the propensity to hoard dollars now, to be spent during political campaigns, was not new to the nation’s political history. “Political spending may affect exchange rate stability in 2018. “Electioneering starts early this time…

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Petrol, LPG prices to remain stable at pumps – NPA

Prices of petrol and Liquefied Petroleum Gas (LPG)  will remain fairly stable at the pumps from January 1, 2018, the National Petroleum Authority (NPA) has announced. The NPA in a statement explained that, this is “in line with a drop in crude and petroleum prices on the world market, as well as stability in the exchange rate.” The Authority added that, it had “activated the Price Stabilization and Recovery Levy to stem potential upward adjustment in the price of diesel.” “The…

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Money supply will increase in 2018 due to political campaigns — Rewane – Punch Newspapers

The Managing Director of Financial Derivatives Company Limited, a local research and investment firm, Mr. Bismarck Rewane, speaks on the economic policies and events that defined 2017 and projections for 2018, in this interview with TOBI AWORINDE How would you describe Nigeria’s economic performance in 2017? 2017 was an interesting year for Nigeria. The macroeconomic scorecard showed an overall improvement in most, if not all economic variables. Recovery, albeit slow, from five quarters of negative growth to post a growth…

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Solve Currency Chaos To Arrest Price Hikes

Zimbabwe’s price increase puzzle will remain unresolved until government restores normalcy on the currency market that has multiple exchange rates and addresses the dollar note shortage, experts say. The prices of basic commodities have been rising in the southern African country over the past six months as shortages of hard currency deepened. Zimbabwe replaced its worthless dollar with mainly the U.S. dollar in 2009 but the economy has struggled over the last 24 months because of a massive domestic shortage…

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Forex reserves surge $3.53 bn to $404.92 bn; hit record high

The country’s foreign exchange reserves surged by $3.53 billion to touch a new lifetime high of $404.921 billion in the week to December 22, aided by an increase in foreign currency assets, Reserve Bank data showed today. The reserves had crossed the $400-billion mark for the first time in the first week of September this year but have been fluctuating since then. Prior to this, it had touched a lifetime high of $402.509 billion on the back of a $1.782…

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Zimbabwe prices likely to remain high unless government avails forex

Zimbabwe’s price increase puzzle will remain unresolved until government restores normalcy on the currency market that has multiple exchange rates and addresses the dollar note shortage, experts say. The prices of basic commodities have been rising in the southern African country over the past six months as shortages of hard currency deepened. Zimbabwe replaced its worthless dollar with mainly the US dollar in 2009 but the economy has struggled over the last 24 months because of a massive domestic shortage…

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It’s illegal to keep your euros and other forex for 30 days when back in SA – here are the other must-know currency laws

With international travels on many a South African agenda these Christmas holidays, making sure that you have enough of the local currency on hand has become a top priority. However a number of confusing laws surrounding age and amounts means it is not always clear how much you are allowed to take with you on your trips. With this in mind, Cliffe Dekker Hofmey’s Louis Botha laid out what you need to know before heading out this December. General rules…

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BSP eases forex rules further

The Bangko Sentral ng Pilipinas has further eased foreign exchange rules, specifically on those involving private sector loans that finance projects aimed at boosting the economy. “The prior BSP approval requirement for purely private sector loans (that is, those without guarantee from/exposure of any public sector entity) was lifted, such that these loans now only need to be registered with the BSP to allow use of banking system resources for loan payments,” BSP Governor Nestor Espenilla Jr. said in a…

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Forex reserves rise to $401.4 billion

Foreign currency assets (FCAs), which form a key component of reserves, rose by 8.30 million from the previous week to 6.906 billion. India’s foreign exchange reserves rose by $488.20 million on December 15 to $401.385 billion, data from the RBI shows. Foreign currency assets (FCAs), which form a key component of reserves, rose by $478.30 million from the previous week to $376.906 billion. FCAs are maintained in major currencies like US dollar, euro, pound sterling and Japanese yen. Movement in…

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The reason the forex RCI haunts Mahathir so badly – Malaysia Today

“Not only are they aware that the RM31.5 billion forex scandal has eclipsed the RM42 billion ‘controversy’, they’re worried that voters will go to polling booths convinced that Mahathir is the real criminal, not Najib. In one sense, I really can’t blame them. I mean, which catchphrase would you rather hum as you make your way towards the voting booth? Are you going to hum about the “RM42 billion that Najib allegedly dissipated into thin air,” or will you hum the one…

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Thomas Cook India Ltd allotted 911164 equity shares of TC Forex Services Limited

Thomas Cook India Ltd was allotted 911164 equity shares of Rs. 10/- each today by TC Forex Services Limited (formerly known as Tata Capital Forex Limited), a wholly owned subsidiary of the Company by way of subscription to its Rights Issue. Shares of THOMAS COOK (INDIA) LTD. was last trading in BSE at Rs.244.95 as compared to the previous close of Rs. 239.05. The total number of shares traded during the day was 32760 in over 647 trades. The stock…

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Asian markets advance ahead of holiday weekend

Asia-Pacific stocks largely rose early Friday in thin preholiday trade, following an overnight rebound in European equities and mild gains on Wall Street. But one focus was the euro, which slid in Asian trading this morning after Catalonia’s separatist parties won a majority in their regional assembly. The currency fell as low as $1.1815 but it has since rebounded to $1.1850. Oanda’s Stephen Innes says further buying will be capped as not many market participants want to carry an open…

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Pound and the forex market in 2018: It’ll be hard to disappoint pessimists

‘Bumping along the bottom’ is what the pound did in 2017 and the same expression might apply to 2018 too. Reuters The year 2017 is likely to be remembered as one of political discord, soft economic growth, rising prices and falling (real) wages in the UK. It’s hardly heartening. From its post-financial crisis peak in August 2015, the pound fell by 23% in trade-weighted terms, reaching the low point during October 2016’s ‘Flash Crash’. It’s currently 6% above that level,…

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Singaporean foreign exchange dealer and global philanthropist Kenneth Kam gives

Bangkok–21 Dec–midas pr Founder of the Kenn Foundation joins global debate on climate change Kenneth Kam, whose brilliance at currency dealing and computer science has earned him a vast fortune, gave a speech at the Eighth International Forum of the NGOs Official Partners of UNESCO in Paris, which was held on December 7 and 8 at UNESCO’s HQ. His message was to urge more organizations including NGOs to play a bigger part in the decision-making processes regarding climate change, describing…

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GLOBAL MARKETS-Catalan vote tests Europe, bonds steady after dive – Finance News

* European stocks subdued after Asia dips and Wall St ends flat * U.S. Republicans pass $1.5 trln of debt-funded tax cuts * Treasury sell-off takes 10-year yields to highest since March * BOJ sticks with stimulus campaign, no sign of turning * Dollar fails to benefit, euro firm before Catalonia vote By Marc Jones LONDON, Dec 21 (Reuters) – World markets gave a muted reception on Thursday to the passage of U.S. tax cuts, while bonds steadied having been…

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