Breaking News
Translate

Forex: Turnover in I&E rises by 38% to $4bn in July

Forex: Turnover in I&E rises by 38% to $4bn in July

By Elizabeth Adegbesan

THE volume of dollars traded (turnover) in the Investors and Exporters (I&E) window of the foreign exchange market rose sharply by 38 percent, month-on-month, to $4.12 billion in July from $2.9 billion in June, 2019.

Buhari, APC close defence, Tribunal fixes Aug 21 for adoption(Opens in a new browser tab)

Forex
Forex

Okowa assures speedy take of Kwale industrial park(Opens in a new browser tab)

This represents the first monthly increase in the volume of dollars traded (turnover) in the window since February.

Turnover in the window rose by 204 percent to $9.13 billion in February, courtesy of increased inflow from foreign portfolio investors (FPIs). This was, however, followed by 22 percent decline to $7.48 billion in March, and another 38.5 percent decline to $4.6 billion in April.

I made Barca win under Guardiola, not Messi — Eto’o(Opens in a new browser tab)

The I&E turnover further declined by 8.6 percent to $4.2 billion in May, and again by 31 percent to $2.9 billion in June, from where it rose by 38 percent to $4 billion in July.

Naira gains marginally against dollar at parallel market(Opens in a new browser tab)

Financial Vanguard analysis of weekly turnover in the window showed that $1.4 billion was traded in the first week of July. Turnover dropped by 61 percent to $536.53 million in the second week and up by 120 percent to $1.2 billion in the third week. Turnover, however, nosedived in the fourth week by 38 percent to $736.15 million. In the last two days of the fifth week of July turnover stood at $202.4 million.

Naira up to N361.50/$ in I&E window(Opens in a new browser tab)

In spite of the sharp increase in the turnover, the naira depreciated by N1.11 kobo in July as the indicative exchange rate of the window rose to N361.68 per dollar on July 31 from N360.57 per dollar on July 1.

Vanguard

All rights reserved. This material and any other digital content on this platform may not be reproduced, published, broadcast, written or distributed in full or in part, without written permission from VANGUARD NEWS.

Disclaimer

Comments expressed here do not reflect the opinions of vanguard newspapers or any employee thereof.
Do NOT follow this link or you will be banned from the site!