/ GBP / JPY AUD / CAD / CHF / CNY 06:34, uSD, eUR, gBP, jPY, aUD, cAD. Running the business, the market may not be big but can be very volatile. If you are good, you can ride the tide and make lots of money in this volatility. There is no magic formula or strategy to succeed in the business.
West African currencies have not been particularly stable in the past, especially the Ghana cedi. The Foreign Exchange Act and other regulations and guidelines are there to constantly improve the industry.
An application for a forex bureau license must be made on the prescribed application form obtained at a fee from Banking Department, after clearance from Banking Supervision Department of the Bank of Ghana. West Africa doesnt use a single currency like Euro for some European countries. An applicant shall first register with the Registrar of Companies, a company with the sole object of carrying on the business of a forex bureau. It is an offense to operate this business in Ghana without a license. Slim margins drive volumes work from home government jobs uk and make more money. But if well managed, the business is one of the most profitable in the region.