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Nairaland Forum / Nairaland / General / Business / I&e Forex Window Attracts $1.9bn In 5 Days (5443 Views)
Naira Begins Recovery After Float, Closes At ₦664/$ At I&E Window / As The Naira Weakens, Bdc Operators Demand A Fresh Forex Window. In Nigeria, Who / How I&E Forex Window Buoyed Naira Stability With $50bn Inflows (2) (3) (4)
I&e Forex Window Attracts $1.9bn In 5 Days by eyesoflagostv: 5:03am On Apr 23, 2018 |
I&E FOREX WINDOW ATTRACTS $1.9BN IN 5 DAYS source : http://www.eyesoflagos.com/2018/04/i-forex-window-attracts-19bn-in-5-days.html The foreign exchange market last week saw an inflow of $1.9 billion through the Investors and Exporters (I&E) window and the interventions of the Central Bank of Nigeria (CBN). The CBN had in its two interventions held last week pumped in $606.18 million as $1.29 billion flowed into the market through the I&E window. According to Eyes Of Lagos reports, The highest inflow last week at the I&E window was on Tuesday when $361.38 million flowed in but it dropped to $137.62 million by Thursday. Value of the naira at the I&E window opened the week flat at N360 to the dollar, the same at the close of the previous week and by Thursday, it had depreciated to N360.25 before closing the week at N360.2 to the dollar. The CBN spot rate opened the week at N305.60 and remained unchanged throughout the week. The CBN during the week had pumped in more foreign exchange into the economy selling $396.18 million into the Retail Secondary Market Intervention Sales (SMIS) segment of the market in its move to guarantee liquidity in the forex market. This brought the total of foreign exchange sold by the apex bank last week to $606.18 million. Earlier in the week it had sold $210 million to meet demand at the wholesale, Small and Medium Enterprises (SMEs) and the invisibles segment of the market. According to figures obtained from the CBN, the released sum is meant to meet obligations in the agricultural, airlines, petroleum products and raw materials and machinery sectors. Confirming the figures, the bank’s acting director, corporate communications department, Isaac Okorafor said that interventions by the CBN in both the retail and wholesale sectors of the forex market were targeted primarily at ensuring liquidity in the market as well as encouraging production and trade, particularly now that the focus was on the promotion of local content. Okorafor further explained that with the country’s reserves nearing $50 billion, CBN was even more determined to sustain the gains recorded through the various policy options the bank took in the course of stemming the depletion of the external reserves and steering Nigeria out of recession. Beyond ensuring liquidity in the inter-bank sector of the market, he said CBN was committed to supporting efforts aimed growing the economy and further diversifying it away from oil. Despite rates closing at N362/$1 on Friday, Okorafor, insisted that the market would remain stable and that CBN would ensure it maintains the country’s external reserves in order to safeguard the international value of the naira. 2 Likes 1 Share
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Re: I&e Forex Window Attracts $1.9bn In 5 Days by inoki247: 7:29am On Apr 23, 2018 |
Thank God 1 naira Don equal 1 Dollars thanks to our president d Dullardino iz a master of dullar... but if e neva equal i dey go back to COMA wake me up wen iz 2019 to go vote... 3 Likes |
Re: I&e Forex Window Attracts $1.9bn In 5 Days by SamuelTurner(m): 7:29am On Apr 23, 2018 |
J |
Re: I&e Forex Window Attracts $1.9bn In 5 Days by Nobody: 7:32am On Apr 23, 2018 |
lazy foreign exchange check my siggy 1 Like |
Re: I&e Forex Window Attracts $1.9bn In 5 Days by Nobody: 7:32am On Apr 23, 2018 |
It still doesn’t change the facts about 2019. We have made up our minds and PVC 2 Likes
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Re: I&e Forex Window Attracts $1.9bn In 5 Days by laffwitmi: 7:37am On Apr 23, 2018 |
Sai baba Pls get your PVC and let do it again for baba PMB till 2023 10 Likes 3 Shares |
Re: I&e Forex Window Attracts $1.9bn In 5 Days by Nobody: 7:37am On Apr 23, 2018 |
Re: I&e Forex Window Attracts $1.9bn In 5 Days by 400billionman: 7:39am On Apr 23, 2018 |
CBN it's time to increase the value of Naira from N360 to N300 to a dollar 1 Like |
Re: I&e Forex Window Attracts $1.9bn In 5 Days by dheilaw1(m): 7:43am On Apr 23, 2018 |
nuti:speak only for yourself and your pvc 7 Likes |
Re: I&e Forex Window Attracts $1.9bn In 5 Days by Delivar(m): 7:45am On Apr 23, 2018 |
Chloe88:Lazy iTunes and Amazon gift cards. 1 Like |
Re: I&e Forex Window Attracts $1.9bn In 5 Days by JoshMedia: 7:53am On Apr 23, 2018 |
Good news Check my signature |
Re: I&e Forex Window Attracts $1.9bn In 5 Days by americanson: 8:01am On Apr 23, 2018 |
eyesoflagostv: APC and propaganda. Just rule for another 4 years and get out please. I will forever hate Tinubu for bringing hardship on the entire country, using his image and greed to destroy what we had. Oloshi Omo ale 1 Like |
Re: I&e Forex Window Attracts $1.9bn In 5 Days by Malikcoker: 8:09am On Apr 23, 2018 |
Emiefele the Unsung Hero under the Buhari Govt. Steady steps to growth after taking us out of recession. Good Job 1 Like |
Re: I&e Forex Window Attracts $1.9bn In 5 Days by SHOPPERS(m): 8:24am On Apr 23, 2018 |
Let's hope the gains are truly conserved and allowed to trickle down to the common man. 1 Like |
Re: I&e Forex Window Attracts $1.9bn In 5 Days by jaxxy(m): 9:36am On Apr 23, 2018 |
And after all that wat happens |
Re: I&e Forex Window Attracts $1.9bn In 5 Days by donqx: 9:37am On Apr 23, 2018 |
oh |
(1) (Reply)
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