Currency trading is nothing but the act of trading one currency of a country for another currency of another country. Currency trading is very easy to do and this trading is carried out at any part of the world and this can also be done even in vacation any part of the world.Forex trading is also known as currency trading or foreign exchange currency trading. The Forex traders who ply their luck and strategies in the Forex market, constantly exchange one currency for another currency. The Forex traders make their profits on the constantly changing exchange rates of global currencies in the Forex market.Forex trading is something very similar to that of trading in stocks. Stock market deals with the buying and selling of stocks by taking advantage of small fluctuations in stock price where as in the Forex market, the Forex trading takes place between two different currencies.Even though this is a very easy method of trading than other different trading methods. But still there are some problems in this Forex market.For example, in Nigeria, the central bank has made a decision to make restrictions on the currency transactions between the commercial banks in the country. Thus the foreign-exchange market has been halted due to the central bank’s decision. An explanation was given that the foreign exchange market should be for the use of customers and not for the inter-bank transactions.
if the banks have already made a buy in some currency and if they are not able sell it to any customer within 5 days from the date of acquiring it, the commercial bank should hand it over to the central bank.
if the banks have already made a buy in some currency and if they are not able sell it to any customer within 5 days from the date of acquiring it, the commercial bank should hand it over to the central bank.
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