Blog

Stay updated with the latest market trends and forex insights

3rd September 2024 8:41:14 AM

When Is the Best Time to Exchange Currency?

Timing is everything, especially when it comes to exchanging currency. Understanding the factors that influence exchange rates can help you get the best deal. These factors include: Exchange your currency with Dealmakersbdc today, click here Timing Your Currency Exchange While there’s no guaranteed way to predict exact exchange rate movements, considering these factors can help […]

27th August 2024 9:26:28 AM

Top 3 BDCs in Lagos

Lagos, the commercial heart of Nigeria thrives on business and commercial connections. Whether you’re a business owner or a traveler on vacation with foreign currency needs, looking for where to begin, this guide explores the best 3 Bureau de Change operators in Lagos, Nigeria. 1. Dealmakers BDC: Dealmakers BDC stands out as a top choice […]

20th August 2024 9:31:04 AM

How to Benefit From Fluctuating Exchange Rates

The foreign exchange market is known for its constant fluctuations, with currency values rising and falling like the tides. This fluctuation presents traders with daily opportunities depending on what side of the currency they are on. Whether you are selling or buying, the first question every Nigerian trader must ask is; how much is a […]

13th August 2024 9:08:34 AM

Understanding Why Currency Exchange Rates Fluctuate

There is no truer statement in the foreign exchange market than; yesterday’s price is not today’s price. What then determines the price of a dollar to naira today? Have you ever wondered why the exchange rate between NGN and other currencies seems to constantly be on the move? Every Nigerian trader’s question is how much […]

6th August 2024 9:20:35 AM

Essential Guide to Analyze the Financial Market

The world of foreign exchange is a dynamic and ever-changing landscape where investors can find lucrative opportunities. Whether you are buying or selling currencies, understanding how to analyze the financial market is crucial for securing the best exchange rates. In this guide, we’ll explore the strategies and tools that can help you navigate the forex […]

30th July 2024 9:49:35 AM

5 Benefits of Currency Trading

The foreign exchange (forex) market is the largest and most liquid financial market globally, with trillions of dollars traded daily. Its volatility, while challenging, presents unique opportunities for traders. This article explores five benefits of currency trading in a volatile forex market. 1. Enhanced Profit Potential By buying USD or other currencies at a lower […]

16th July 2024 12:08:00 PM

Mastering PTA: 3 Tips Every Nigerian Applicant Must Know

Are you planning to travel out of the country soon and you are concerned about the foreign exchange rate? This article is for you. The Central Bank of Nigerians has approved $4000 as a personal travel allowance and $5000 as a Business travel allowance. This article explores the requirements and steps to consider when applying […]

9th July 2024 12:04:47 PM

Top 10 strongest currencies in the world (2024)

The US Dollar is arguably the most popular currency in the world and also the most-traded currency on the global market, as of today, the US dollar is not the strongest of the 180 traditional “fiat” currencies recognized as legal tender worldwide. According to Forbes Advisor as of June 2024, the top 10 strongest currencies […]

2nd July 2024 11:58:56 AM

CBN Brings Back IMTOs to the Foreign Exchange Market

The Central Bank of Nigeria (CBN) has announced a policy shift allowing International Money Transfer Operators (IMTOs) to resume sending foreign transactions directly through official channels. This move is expected to potentially increase recorded remittance inflows. By permitting IMTOs to sell foreign exchange on the NAFEM window, the CBN aims to achieve several objectives: 1.Boost […]

25th June 2024 11:54:00 AM

10 Best Bureau De Change (BDCs) in Nigeria

Navigating Foreign Exchange Transactions in Nigeria: Your Guide to the Best Bureau de Change Operators When it comes to foreign exchange transactions in Nigeria, finding a trustworthy Bureau de Change (BDC) operator is crucial for securing the best value for your money. If you’re seeking a reliable BDC for your FX transactions now or in […]

18th June 2024 11:51:00 AM

A Healthy Romance Between FX and Technology

The foreign exchange industry, a vibrant realm that has evolved across centuries, has undergone a remarkable transformation with the advent of technology. At Dealmakers, we’ve witnessed firsthand how technology has revolutionized our relationship with customers, enhancing every aspect of the FX experience. Here’s a glimpse into the healthy romance between FX and technology: 1. Cutting-Edge […]

11th June 2024 11:46:00 AM

3 Tips to Avoid FX Scams

Forex trading is a thrilling world of profit potential, but beware of the lurking shadows of scams. Here is how you can shield yourself and spot the pit of scam before falling into one Forex trading is simple but not easy hence beware of flashy promises of easy riches in forex. Legitimate traders deal in […]

4th June 2024 11:24:00 AM

3 Benefits of Trading Your FX With Dealmakers BDC

Dive into the thrilling world of FX trading with us. It’s all about buying and selling currencies worldwide for profit. Banks, brokers, and even beginners can make a profit irrespective of how much money they trade with. Just have adequate knowledge and the right partnership. Are you trying to elevate your FX trading skills? DealMakers […]

28th May 2024 11:18:00 AM

Unlocking the Potential: How Foreign Exchange Can Benefit You in Today’s Economy

Amidst uncertainties surrounding the foreign exchange market today, questions arise about its stability and relevance in the current economic landscape. Global incidents like COVID-19, regulatory changes by the Central Bank of Nigeria, and geopolitical tensions such as the Russia-Ukraine conflict have left many pondering the future of foreign exchange. Despite these concerns, it’s worth asking […]

18th May 2024 11:00:00 AM

Foreign Exchange Stability: The Role of Bureau De Change

Monetary authorities in developing economies prioritise exchange rate stability to prevent significant disparities between official and parallel exchange rates. In Nigeria, the role of Bureau De Change (BDC) operators in maintaining a stable foreign exchange market is paramount. BDCs, licensed by the Central Bank of Nigeria (CBN), are authorised to conduct retail foreign exchange transactions. […]

15th May 2024 10:55:00 AM

3 Secure Methods for Buying and Selling USD in Nigeria

Ensuring safe and efficient USD transactions in Nigeria is crucial given the fluctuating currency rates and regulatory considerations. Whether you’re a business owner, investor, or individual needing to exchange USD, it’s vital to employ reliable and secure methods. Here are three safe ways to buy and sell USD in Nigeria: Licensed BDC operators, approved by […]

14th May 2024 10:44:42 AM

NAIRA SHRUGS OFF CBN’S INTERVENTION, DIPS TO 1510/$

Recent market statistics have shown the Naira to be fighting back against the CBN’s intervention, now trading at N1510. A few months ago, the Naira hit an all-time low against the dollar, trading for over 1500 for the first time before the CBN intervened and the local currency began to buck its trend. Recent developments, […]

30th April 2024 10:05:00 AM

Naira Announced as Top-Performing Currency Globally

In a surprising turn of events on April 12, 2024, the Naira reached a remarkable milestone, closing at N1,142/$, backed by consistent interest rate adjustments and a steady flow of capital. Analysts at the esteemed Goldman Sachs Group have taken notice, acknowledging the Naira’s remarkable performance as the leading currency worldwide for the month of […]

11th March 2024 9:53:00 AM

CBN MPC Raises MPR by 400bps to 22.75%: The Breakdown

On February 27, 2024, Nigeria’s Monetary Policy Committee (MPC) made a bold move, increasing the monetary policy rate by a substantial 400 basis points to 22.75%. This decision, which aims to tackle inflation that reached a 28-year high of 29.9%, was coupled with an increase in the cash reserve ratio to 45%. These measures signal […]

26th September 2023 9:47:00 AM

Inflation in Different Countries of The World and its Effect on Forex

Inflation is a gradual rising in the overall cost of commodities and services. Certain goods may noticeably go up in price, while others may become cheaper, as well as some goods may not change in price at all. Inflation is assessed by the set of products, goods, and services that the average person or family […]

25th September 2023 9:44:00 AM

CBN to Clear Forex Obligation Backlog in Two Weeks, Plans Clampdown on Illegal Operators

Nigerian businesses from manufacturers to importers, who have been on a long queue for dollars may have cause to heave a sigh of relief as the Central Bank of Nigeria (CBN) has announced plans to clear foreign exchange (Forex) backlog obligations in the next two weeks. Acting Governor of the CBN, Adebisi Shonubi at a […]