A breakdown of top sources of FX inflows According to Data from FMDQ, March inflow recorded a 41.7% improvement over the $2.64 billion recorded in February 2024, with local sources accounting for 59% of the total transactions and foreign sources contributing 41% of gross transactions.

A breakdown of the inflows shows that local sources rose by 43.2% monthly to $2.21 billion in March compared to $1.54 billion recorded in February, caused by individual accretions. Inflows from individuals rose by $405.8%, while non-bank corporates and exporters rose by 157.7% and 14.6%, respectively. Meanwhile, the Central Bank of Nigeria (CBN) inflows declined by 65.7%. Collections from foreign sources spiked by 39.6% monthly to $1.54 as against the $1.1 billion recorded in February, which represents a 50-month high as investors showed positive interest in CBN’s initiatives and improved FX interventions aimed at boosting liquidity and the stability of the Forex market. Read more: https://www.legit.ng/business-economy/economy/1587137-dollar-inflow-fx-market-surges-highest-3-years-report-shows-top-sources/?fbclid=IwAR16WUmovweA48k2D8WnWuDau-NR6GWUq9yG_-CEqrgPEQ2XXLQGtgatec4







Dollar Inflow to FX Market Surges to Highest in 3 Years, Report Shows Top Sources Tuesday, April 09, 2024 at 11:50 AM by Pascal Oparada Forex inflow into the Nigerian foreign
exchange market rose to a three-year high in March 2024 The total FX inflows into the Nigerian Autonomous Foreign Exchange Market stood at $3.75 billion for March 2024 Data from FMDQ shows that local, foreign and CBN sources contributed significantly to the FX inflows Foreign exchange inflow into the Nigerian Autonomous Foreign Exchange Market (NAFEM) rose in March 2024, reaching the highest monthly level over three years. The total forex inflow recorded for the month under review stood at $3.75 billion. Nigeria records highest dollar inflows in three years













Credit: Bloomberg/Contributor Source: Getty Images Read more: https://www.legit.ng/business-economy/economy/1587137-dollar-inflow-fx-market-surges-highest-3-years-report-shows-top-sources/?fbclid=IwAR16WUmovweA48k2D8WnWuDau-NR6GWUq9yG_-CEqrgPEQ2XXLQGtgatec4

Where are those saying source of dollars is from Nigeria foreign reserve?

But ipob illiterates said CBN is defending the Naira with foreign reserve. What I observed about those clowns is that, when they wished for something and it ends up the other way, they start cooking up some fairy tales to further delude themselves. They always do this because they so much believe in their lies. Notable example is the Buhari-jubrin fable. They wanted Buhari to die, but he didn't. Then they came up with the clone bunkum. Now, they wanted the fx to be N3000 at March ending, the reverse occurred, then they came up with the cbn defending the Naira with foreign reserve hogwash.

Keep the good news coming

Richtaiwo:
But ipob illiterates said CBN is defending the Naira with foreign reserve. What I observed about those clowns is that, when they wished for something and it ends up the other way, they start cooking up some fairy tales to further delude themselves. They always do this because they so much believe in their lies. Notable example is the Buhari-jubrin fable. They wanted Buhari to die, but he didn't. Then they came up with the clone bunkum. Now, they wanted the fx to be N3000 at March ending, the reverse occurred, then they came up with the cbn defending the Naira with foreign reserve hogwash.

Did you belive that till now some stil belive Buhari is dead and replace with jibril

I just knew some pained speculators cum piiiggs sponsored the mischievous publication of CBN depleting its foreign reserves to defend the Naira some days back

Biodun556:
Where are those saying source of dollars is from Nigeria foreign reserve?

then why is the reserve going down?

CodeTemplar:
then why is the reserve going down?

Do you know the meaning of reserves?

If Buhari had used this current cbn policies maybe N 1 will be equal to $350. Hope this get better.

CodeTemplar:
then why is the reserve going down?

The reserve had increased shortly before it goes down a little bit

If the reserve is what they use to defend the naira where did the CBN see the 7 billion dollars it pays the airlines?

The reserve should have gone down more than that

A smart obidient never existed at any point

Shame on the haters of Nigeria