Forex: Turnover in I&E window falls 5% to $31.3bn in 2021
By Elizabeth Adegbesan The volume of dollars traded (turnover) in the Investors and Exporters (I&E) window of the Nigerian foreign exchange (Forex) market fell by five per cent, Year-on-Year (YoY) to $31.29 billion last year from $33.04 billion in 2020. Vanguard findings from the Central Bank of Nigeria, CBN, forex data show that turnover recorded […]
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FOREX: Turnover in I&E falls by 47% to $33bn in 2020
The volume of dollars traded (turnover) in the Investors and Exporters (I&E) window of the Nigerian foreign exchange (forex) market fell by 47 percent, year-on-year (YoY) to $33.04 billion last year from $62.37 billion in 2019.
Remittances inflow and the Economy
Adeshola works 16 hours a day, spending most of the spare time shuttling between the three jobs, needed to generate earnings, from which he regularly sends money to his wife and three children back in Nigeria.
Manufacturers may not open next month over COVID-19, Forex crises
Manufacturing sector operators have indicated that many factories may not open for activities next month due to the impact of COVID-19 fallouts as well as scarcity of foreign exchange supply.
Banks’ income from forex trading jumps 114% to N145bn
Notwithstanding the sharp depreciation of the Naira and the acute dollar shortage in the economy, income from foreign exchange trading by Nigeria’s top banks rose sharply by 110 percent, year-on-year, to N145 billion in the nine months ending September 2020.
