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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…
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The Fall and Fall of the Nigerian Naira
According to the Central Bank of Nigeria (CBN), Nigeria’s currency, the Naira, fell by nearly a fifth of its value on the official exchange rate window, in the five months between March and August of this year from 305 to the U.S. dollar to 379 on August 21, for a roughly 24.3% decline. Nigeria’s currency,…