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.