How Turnover In I & E Rose In January 2022

The Investors and Exporters window of the foreign exchange market rose sharply by 152 percent, Year-on-Year (YoY), to $2.16 billion in January 2022 from $906.44 million in January   2021.

An analysis of weekly turnover in the window for January 2022 showed that $337.65 million was traded in the first   week of January.

The turnover rose by 91 percent to $645.44 million in the second week and down   by 9.2 percent to $585.86 million in the third week.

The downward trend continued in the fourth week as turnover fell by 15  percent to $495 million. Turnover stood at $95.07 million on the last day of the fifth week.

Meanwhile, the naira appreciated   by 67 kobo during the period as the indicative exchange rate of the window fell to N415.33 kobo per dollar on January 31st from N416 per dollar on January 5th.

Kehinde Ogunyale

Reporting on the data-driven economy, and investigations.

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