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Nairaland Forum / Nairaland / General / Business / Foreign Inflows Fall By 32%, UK, South Africa, Others Slash Nigeria Investments (402 Views)
After $1bn Drop, Nigeria May Suffer Further Decline In FX Inflows – PWC / $48b Forex Inflows, $45b Reserves Stabilise Naira / How I&E Forex Window Buoyed Naira Stability With $50bn Inflows (2) (3) (4)
Foreign Inflows Fall By 32%, UK, South Africa, Others Slash Nigeria Investments by xelly: 4:23pm On Jan 17, 2022 |
The Central Bank of Nigeria has disclosed that capital importation into the country fell by 32 per cent to $500m in October 2021, from $660m recorded in September. The CBN disclosed these figures in its latest monthly economic report (October) recently released on the bank’s official website. The decline is a negative turnaround from the increase recorded in September when capital inflow rose by $220m from $440m in August. The report also shows that there is a corresponding decline in investment inflows from the United Kingdom, South Africa and other countries leading the pack in capital importation into Nigeria. A breakdown of the inflows recorded in October shows that foreign portfolio investments dominated capital importation with a value of $330m. The CBN said, “New capital importation decreased by 32.0 per cent to US$0.50bn in October 2021, from US$0.66bn in September 2021. “Disaggregation of capital importation by type of investment shows that foreign portfolio investment inflow (mainly money market instruments), at US$0.33bn, decreased by 34.0 per cent, relative to the US$0.50bn in September 2021. https://punchng.com/foreign-inflows-fall-by-32-uk-south-africa-others-slash-nigeria-investments/? |
Re: Foreign Inflows Fall By 32%, UK, South Africa, Others Slash Nigeria Investments by Kosoco(m): 4:28pm On Jan 17, 2022 |
So what does it mean |
Re: Foreign Inflows Fall By 32%, UK, South Africa, Others Slash Nigeria Investments by baralatie(m): 4:36pm On Jan 17, 2022 |
Covid |
Re: Foreign Inflows Fall By 32%, UK, South Africa, Others Slash Nigeria Investments by dasparrow: 4:54pm On Jan 17, 2022 |
The reason is the Covid pandemic. If you only know the devastation this pandemic has caused. 1 Like |
Re: Foreign Inflows Fall By 32%, UK, South Africa, Others Slash Nigeria Investments by Great2017: 5:13pm On Jan 17, 2022 |
xelly:But a decrease from $660M to $500M is not 32% but about 24%. 1 Like |
Re: Foreign Inflows Fall By 32%, UK, South Africa, Others Slash Nigeria Investments by xelly: 7:51pm On Jan 17, 2022 |
Great2017: How did you calculate yours to get 24% ? |
Re: Foreign Inflows Fall By 32%, UK, South Africa, Others Slash Nigeria Investments by Great2017: 9:31pm On Jan 17, 2022 |
xelly:32% of $660M subtracted from $660M is not $500M but about 24% of $660M subtracted from $660M is about $500M. You can work that out yourself. Furthermore, I don't want to believe that those erroneous figures came from CBN. |
Re: Foreign Inflows Fall By 32%, UK, South Africa, Others Slash Nigeria Investments by xelly: 10:08pm On Jan 17, 2022 |
Great2017: 660-500=160 160/500=0.32 0.32*100= 32% |
Re: Foreign Inflows Fall By 32%, UK, South Africa, Others Slash Nigeria Investments by Great2017: 10:28pm On Jan 17, 2022 |
xelly: It should be: 160/660 = 0.2424... ( $660M was the initial or original quantity) 0.2424...* 100 = 24.24% Check: 24.24% decrease from $660M is $500M 32% decrease from $660M is $448.8M and not $500M |
Re: Foreign Inflows Fall By 32%, UK, South Africa, Others Slash Nigeria Investments by xelly: 4:01am On Jan 18, 2022 |
Great2017: No need talking. provided you are happy with what you believe. |
Re: Foreign Inflows Fall By 32%, UK, South Africa, Others Slash Nigeria Investments by Great2017: 6:15am On Jan 18, 2022 |
xelly:It is not about what I believe but about what is right. It will be very disappointing if those computation came from CBN. |
Re: Foreign Inflows Fall By 32%, UK, South Africa, Others Slash Nigeria Investments by xelly: 9:30am On Jan 18, 2022 |
Great2017: You are wrong bro. check your calculations. |
Re: Foreign Inflows Fall By 32%, UK, South Africa, Others Slash Nigeria Investments by Great2017: 3:14pm On Jan 18, 2022 |
xelly:How? 24.24% decrease in 660M will amount to (100% - 24.24%) * 660M = 75.76% * 660M = (75.76/100) * 660M = 0.7576 * 660M = 500M Show me how 32% decrease in 660M will amount to 500M |
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