Home Business Forex inflow: economy recorded $42.7bn in first quarter-CBN

Forex inflow: economy recorded $42.7bn in first quarter-CBN

by Kunle Awosiyan
CBN

The Central Bank of Nigeria has said that the aggregate foreign exchange (forex) inflow into the Nigerian economy in the first quarter (Q1) 2020 is $42.71 billion

The development was attributed to an 11.2 per cent increase in inflow through the bank.

A breakdown of the sum showed that oil sector receipts, at $3.36 billion or 7.9 per cent of the total, declined by 7.6 per cent and 21.1 per cent below the levels in the preceding quarter and the corresponding period of 2019, respectively.

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