Forex: Turnover in I&E falls by 39% to $4.6bn in April

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By Babajide Komolafe and Elizabeth Adegbesan

THE volume of dollars traded (turnover) in the Investors and Exporters (I&E) window of the Nigerian foreign exchange market dropped by 39 percent, month-on-month, to $4.6 billion last month from $7.48 billion in March, 2019.

This represents the second consecutive monthly decline in the volume of dollars traded (turnover) in the window since February.

After rising by 204 percent to $9.13 billion in February, courtesy of increased inflow from foreign portfolio investors (FPIs), the monthly turnover dropped by 22 percent to $7.48 billion in March.

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Hence, the 39 percent decline in monthly turnover in April suggests slowdown in dollar inflow from FPIs, which accounted for 72.53 percent of total inflow in March.

Financial Vanguard analysis of weekly turnover in the window showed that $1.09 was traded in the first week of April. Turnover fell by 11 percent to $966.3 million in the…



Vanguard Newspaper