The window, which offers investors the opportunity to sell dollars at rates of their choice provided they find willing buyers, has restored confidence to the forex market. Before the introduction of the I&E Forex window, the local equities market and the foreign exchange (forex) market were in shambles The Moving Average Indicator. This is the simplest indicator to determine the direction of the trend. It represents the average price over a certain period (for example, 14, 50 or candles). The higher the period, the smoother MA. Intersection of Moving Average with the price serves as a signal for trend reversal; The Bollinger Band Indicator 16/09/ · Free Currency Exchange Rates for Today (16 September ) FXTM. 93%. Libertex. 91%. ETX Capital. 90%. blogger.com 89%
Free Currency Exchange Rates for Today (24 September )
The window is not only a boost to forex liquidity, but has helped to keep the Naira stable at the official and parallel markets, writes COLLINS NWEZE. Not many investors — local and international — gave it any chance to succeed when it was introduced. The weekly dollar interventions by the bank is also expected to help in stabilising the local currency. However, in a dramatic turn of events, the acute shortage of forex, which businesses and individuals grappled with, witnessed an unprecedented improvement, with banks and Bureaux de Change BDCs now desperately looking for forex buyers.
The FSDH Research Monthly Economic and Financial Market Outlook said the positive domestic and external environment will further lead to external reserves accretion in the short-term, a development the report predicted will further graphical trend of forex rates of i&e window the foreign exchange rate.
The CBN usually intervenes in the foreign exchange market by injecting liquidity about three times a week. The intervention is provided to authorised dealers in the wholesale segment of the market as well as other sectors of the economy such as agriculture, manufacturing and the Small and Medium Enterprise segment. Customers that required foreign exchange for invisible things such as tuition fees, medical bills and Basic Travel Allowance are also allocated funds from the intervention.
Before the introduction of the forex window, the local equities market and the foreign exchange forex market were in shambles. The All Share Index ALSI was continuously shrinking and the naira weakened against other currencies, especially the dollar. The introduction of the window was followed by continuous interventions by the CBN which enabled banks and BDC operators to meet forex demand at the retail end of the market.
The operations of companies, especially manufacturing, has been on the upward swing with an improvement in inflation figures as well as equities market performance. Before the stability in the forex market and naira, the economy witnessed a depressed Gross Domestic Product GDP growth, which culminated in a recession in Managing Director, Afrinvest West Africa Plc, Ike Chioke, graphical trend of forex rates of i&e window, said the window has won graphical trend of forex rates of i&e window confidence of foreign investors.
According to the CBN spokesman, forex supply to the window shall be through portfolio investors, exporters, authorised dealers and other parties with foreign currency to exchange to naira. The apex bank is a market participant at the window to promote liquidity and professional market conduct. He said that the apex bank assured that the exchange rates of the transactions would be as agreed between authorised dealers and their counterparties.
Besides, he said the regulator reserved the right to intervene as a buyer or seller, as it deems fit, in the window, even as information on transactions between authorised dealers is reported to the CBN on a daily basis. Manufacturers and other foreign exchange forex end-users also seem to be having a great time over the coming of the window.
The steady bid by the CBN has been seen variously as a response to the softening of demand for forex by importers and other economic actors, graphical trend of forex rates of i&e window, and as a move to contain naira appreciation. The CBN has imposed some currency control measures to save the naira. In Junegraphical trend of forex rates of i&e window, it curbed access to the interbank currency market for importers bringing in a variety of goods.
In an effort to conserve its dollar graphical trend of forex rates of i&e window, the bank said importers could no longer get hard currency to buy 41 items, ranging from toothpicks and rice to steel products and private jets. Other measures it took include the first Naira-Settled Over-the-Counter OTC Forex Futures Market FFM launched with FMDQ OTC Securities Exchange and the planned resumption of dollar sales to the BDCs. The FMDQ OTC Securities Exchange FMDQ is an organisation with the strategic intent of bringing about revolutionary changes and fostering the development of the financial markets.
On the maturity date, it will be assumed that both parties would have transacted at the spot forex market rate. The party that would have suffered a loss with the spot forex rate will be paid a settlement amount in naira to ensure that both parties enjoy the rate that had been guaranteed to each other through the OTC Forex Futures. Legal Privacy Policy Disclaimer WetinBerate © All Rights Reserved. Currency control measures The CBN has imposed some currency control measures to save the naira.
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Forex Inception 2 - Individual Currency Analysis
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The window, which offers investors the opportunity to sell dollars at rates of their choice provided they find willing buyers, has restored confidence to the forex market. Before the introduction of the I&E Forex window, the local equities market and the foreign exchange (forex) market were in shambles A report by FSDH Research said that prior to the I&E Forex window introduction in April, last year, the market and exchange rates were in turmoil. However, in a dramatic turn of events, the acute shortage of forex, which businesses and individuals grappled with, witnessed an unprecedented improvement, with banks and Bureaux de Change (BDCs) now 21/08/ · The Forex Market Map provide a quick visual view of how the 30 major forex market rates are performing for the day based on their Percent blogger.com Heat Map allows you to scan the cross rates quickly, and click on a cross rate to drill down further. Rising markets are depicted in green with falling markets in red
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