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Wingo Markets introduces new tools for forex brokers provides an entire toolkit
5.12.2023
Wingo Markets is a leading forex trading and broker platform that recently launched a wide range of trading instruments and new features. With this, Wingo Markets has achieved one of the biggest milestones, bringing the total number of forex trading instruments on the platform to more than 1,000....
China shuffles financial leadership, appoints new chief for foreign exchange
5.12.2023
China, a decisive country in today’s international economy, plans to introduce fresh leadership in its financial sector. The top Chinese banker, Zhu Hexin, head of the CITIC group, who has become a household name, has been announced as the New Forex Chief of the country’s currency...
Byju’s faces action: ED sends notice over Rs 9000 Cr forex rule breach
5.12.2023
The largest ed-tech company in India, BYJU’S, which has created one of the best and the most widely used school learning apps, was launched in 2015 to offer highly effective and personalized learning programs for schoolgoers as well as competitive exam aspirants. BYJU’S has over 50 million...
Did Odisha Government Earn ₹6,500 Crore In Forex Profit From Software Exports?
4.12.2023
Odisha and foreign exchange worth Rs. 6500 crore from the software export industry in FY 2022-23. Odisha recorded around 22% growth from software exports in 2012-13, reaching a value of Rs. 1970 crore. This year, the state has reached another financial milestone by reaching another peak, thanks...
Online forex brokers to pay 3% annual fee to regulatory authority
4.12.2023
There is a slight shift in the segment of online forex trading, with authorities jumping in to impose better protections and revenue streams. While protections are for customers, revenue streams majorly pertain to their interest, which is expected to be passed on to the community. For online forex...
German and US consumer confidence: Latest insights
4.12.2023
Consumer confidence and sentiment are important economic indicators for the foreign exchange market. The consumer confidence index (CCI), conducted every month, determines consumer sentiment by measuring spending plans for large purchases such as cars and real estate. This indicator evaluates...
Asian Currencies Dip, Dollar Holds Steady Ahead of Busy Economic Data Period
4.12.2023
Several variables came together on Thursday to create uncertainty in the foreign exchange market, which led to the recent decline in Asian currencies. Significantly, the U.S. dollar’s rebound, propelled by better-than-expected retail sales figures, was a significant factor in the depreciation...
Deciphering the impact of ECB decisions and US Treasury Yields on Forex market movements
1.12.2023
A major influence on the Eurozone’s economic climate lies with the European Central Bank (ECB), as it keeps prices stable and encourages economic growth. The ECB’s decisions on interest rates, economic projections, and forward guidance are keenly monitored by forex traders. In addition...
The Rupee sees a modest gain against the USD in early trade
30.11.2023
The Indian Rupee (₹) and the US Dollar ($) have been trading in a familiar territory for almost a month. The range is ₹81-₹84. The INR is currently at ₹83.30 for every US Dollar. However, the currency has been reported to have made some modest gains against the US counterpart in early trade. ...
CTO report unveils unbelievable comeback of Yen bulls, Surprising Dollar bets boost EUR/USD in a remarkable reversal
30.11.2023
The latest CTO study revealed formerly unseen market insights, revealing a stunning change in the mechanics of currency trading. Contrary to popular belief, Yen Bulls unexpectedly emerged as the front-runners. These unexpected dollar bets changed market sentiment, and the EUR/USD trading...
Former shipping captain loses Rs 37 lakh in Forex scam
30.11.2023
A former shipping captain was recently defrauded of Rs. 37 lakh through a fake forex trading app. The accused, Satish Gupta, was arrested by the Western Regional Cyber Police for duping the company captain. The cyber police traced Rs. 27 lakhs of the lost money and arrested two more suspects...
How DeFi Can Bridge the Forex Gap in Africa, According to Banking CEO
30.11.2023
Source: AdobeStock / Confidence Neobank Canza Finance‘s decentralized finance (DeFi) tech provides decentralized foreign exchange (FX) for African currencies, its CEO and co-founder Pascal Ntsama IV said. Canza website stresses that access to financial services and products is “a...
India’s Forex Reserves hit $595B, exceeding 11-week peak!
30.11.2023
Foreign exchange India has broken the record once again with its significant achievement of exceeding an 11-week peak, settling forex reserves at $595 billion. In this article, we will discuss the economy’s record-breaking achievement and its economic implications, the future Outlook of...
Forex Brokers Gear Up for New Challenges as Crude Oil Prices Experience Sharp Decline
30.11.2023
There are notable changes in the global energy landscape, with a dramatic decline in crude oil. Unusually, this downturn has attracted OPEC and big players in the oil market, which has caused oil prices to fall much lower than expected. The change in the energy market and its effects on forex...
De-Fi could solve Africa’s foreign exchange problems, neo-bank CEO says
30.11.2023
The CEO and co-founder of neo-bank Canza Finance claims that utilizing Baki for FX trades in Africa creates a hub for African businesses to participate in intra-African and FX trades at reduced cost
Positive CPI news for Canadians: No need to wait for inflation to go back to 2%
30.11.2023
After a constant economic struggle, the Canadian economy is finally getting a breather. The Bank of Canada recently stated that its annual inflation rate eased to 3.1% in October. At the same time, its core inflation dipped to the lowest margins in two years. Experts had previously estimated...
Despite financial assistance, Pakistan faces declining forex reserves amidst external debt repayments
29.11.2023
During the initial months of 2023, Pakistan seemed to be heading towards a catastrophic point, with the IMF loan program in 2019 going off track after the fund realized the commitment of Islamabad to reform was lacking, which led to the suspension of loan disbursements. Pakistan has imposed strict...
RBI adds 19 unauthorized forex trading platforms to alert list
28.11.2023
Last week, the Reserve Bank of India updated the alert list of unauthorized forex trading platforms and added 19 new entities, including BlackBull, Admiral Market, Easy Markets, Enclave FX, Finowiz Fintech, FX SmartBull, Fx Tray Market, Forex4you, Growing Capital Services, HF Markets, HYCM Capital...
Using MT5 and Cent accounts to improve Forex profits
24.11.2023
Forex trading is an activity that asks the investor to estimate the strength of one currency against another. Investors generate forex profits by valuing their investments more strongly based on the investment volume. Some major currencies include the Japanese Yen, the Australian Dollar, and...
Ghana’s Central Bank Names Eight Money Transfer Companies Operating Without Its Approval
23.11.2023
The Bank of Ghana recently pointed the finger at eight money transfer organizations which are allegedly operating in Ghana’s remittances and forex market without its approval. The central bank also warned the public and regulated financial institutions against having dealings with the eight...