Forex trading has become an increasingly popular investment option in Nigeria. As the largest economy in Africa, Nigeria offers a thriving environment for forex trading, attracting both seasoned traders and novices.
Most brokers offer various types of accounts, such as standard, mini, and micro accounts, meeting different levels of trading experience and investment capacities. Risk management is a crucial aspect of your trading plan. It involves setting stop-loss orders to limit potential losses and determining the amount of capital you are willing to risk on each trade. Consistency and discipline in following your trading plan can significantly improve your chances of success.The forex market is influenced by a myriad of factors, including economic data releases, geopolitical events, and market sentiment.
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Forex crisis: Nigeria’s foreign exchange reserves drop by $1.8bn in weeksNigeria’s foreign exchange reserves have dropped by $1.8bn in 10 weeks. This is according to recent data from the Central Bank of Nigeria. Accordingly, as of May 29, 2024, the country’s FX reserves stood at $32.69 billion, down from $34.44 billion as of March 18. This decline signifies a drop from the $36.
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Nigeria must leverage national assets to attract forex inflow — TeribaNigeria must levrage on its national assets in order to attarct foreign exchange inflows and build huge external reserves needed to achieve stable exchange rate, said Chief Executive of Economic Associates, Ayo Teriba.
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@VANGUARD ECONOMIC DISCOURSE: How Nigeria can earn more forex, stabilise naira, by expertsFollowing continuous fluctuations in the exchange rate and depreciation of the nation’s currency, economy experts have called for bold pro-business reforms to enhance dollar supply and build huge external reserves as the keys to achieving stability of the Naira and halt the rising trend in inflation. Naira records mixed performance.
Source: vanguardngrnews - 🏆 5. / 75 Read more »
NFF names venue for President Federation Cup finalPremium Times - Nigeria'bs leading online newspaper, delivering breaking news and deep investigative reports from Nigeria
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A generation desperately in need of kingdom men (2), By Ayo AkerelePremium Times - Nigeria'bs leading online newspaper, delivering breaking news and deep investigative reports from Nigeria
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Enugu Rangers veterans: Preserving memory and honouring a legacy, By Chidi Anselm OdinkaluPremium Times - Nigeria'bs leading online newspaper, delivering breaking news and deep investigative reports from Nigeria
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