Transactions on CBN’s I & E Window Hit $171bn
editorApril 27, 2020 3:59 Am
By Obinna Chima
The cumulative transactions on the Investors and Exporters’ (I&E) foreign exchange window of the Central Bank of Nigeria (CBN) have risen to $171.45 billion since the bank created the market three years ago.
Data obtained from the CBN by THISDAY also revealed that total forex inflows garnered through the forex window since it was established on April 27, 2017, stood at $93.85 billion as of last Friday.
However, as Nigeria’s economy faces a double whammy of the sharp decline in crude oil price and the economic damage caused by the COVID 19, inflows through the I & E window is expected to be impacted negatively.
The CBN had introduced the Nigerian Autonomous Foreign Exchange Fixing Mechanism (NAFEX), commonly known as the I&E window as well as a raft of other measures to improve dollar liquidity in 2017, when the country faced a severe forex crisis.
Source:https://www.thisdaylive.com/index.php/2020/04/27/transactions-on-cbns-i-e-window-hit-171bn/
editorApril 27, 2020 3:59 Am
By Obinna Chima
The cumulative transactions on the Investors and Exporters’ (I&E) foreign exchange window of the Central Bank of Nigeria (CBN) have risen to $171.45 billion since the bank created the market three years ago.
Data obtained from the CBN by THISDAY also revealed that total forex inflows garnered through the forex window since it was established on April 27, 2017, stood at $93.85 billion as of last Friday.
However, as Nigeria’s economy faces a double whammy of the sharp decline in crude oil price and the economic damage caused by the COVID 19, inflows through the I & E window is expected to be impacted negatively.
The CBN had introduced the Nigerian Autonomous Foreign Exchange Fixing Mechanism (NAFEX), commonly known as the I&E window as well as a raft of other measures to improve dollar liquidity in 2017, when the country faced a severe forex crisis.
Source:https://www.thisdaylive.com/index.php/2020/04/27/transactions-on-cbns-i-e-window-hit-171bn/
