Market News
FPIs dominate inflows for 10 straight weeks as naira sustains stability
Foreign Portfolio Investors (FPIs) have dominated dollar inflows into the Nigerian Foreign Exchange Market (NFEM) for 10 consecutive weeks, contributing significantly to naira stability.
On Monday, the naira appreciated marginally by 0.03 percent, as the dollar was quoted at N1,534.20, reflecting a N0.51 gain from Friday’s N1,534.71 closing rate at the NFEM, according to data from the Central Bank of Nigeria (CBN).
Total foreign exchange (FX) inflows into the FX market fell to $979.10 million from $1.31 billion recorded the previous week,Foreign Portfolio Investors (FPIs) have dominated dollar inflows into the Nigerian Foreign Exchange Market (NFEM) for 10 consecutive weeks, contributing significantly to naira stability.
On Monday, the naira appreciated marginally by 0.03 percent, as the dollar was quoted at N1,534.20, reflecting a N0.51 gain from Friday’s N1,534.71 closing rate at the NFEM, according to data from the Central Bank of Nigeria (CBN).
