Monday, June 2, 2025
  • Share your story
  • About
  • Contact
Economy FootPrint
  • Home
  • News & Politics
  • Opinion
  • Finance & Economy
  • Aviation
  • Editorial
  • Transport & Blue Economy
  • Features | Analysis
  • Health | Environment
Economy FootPrint
Home Finance | Insurance | Pension

US Dollar Inflows to Nigeria’s FX Market Climbs by 53%

EconomyFoot Print by EconomyFoot Print
February 10, 2025
in Finance | Insurance | Pension, Top News
Reading Time: 2 mins read
0
CBN Posts ₦165bn Surplus in 2024 Financial Year
Share on FacebookShare on Twitter

Related posts

Qatar Airways Dedicates Special UEFA Champions League Livery to Bring PSG Home

Qatar Airways Dedicates Special UEFA Champions League Livery to Bring PSG Home

June 1, 2025
OPFY: Our Non-Kinetic Operations Secured Release Of Over 100 Kidnapped Victims – General Opurum

OPFY: Our Non-Kinetic Operations Secured Release Of Over 100 Kidnapped Victims – General Opurum

May 31, 2025

As foreign investors’ confidence continue to rise, the volume of US dollar inflows into Nigeria saw a significant boost in January. 

The Central Bank of Nigeria’s (CBN) FX reforms has continued to drive foreign portfolio investors’ attention into the local economy to take advantage of elevated yield in fixed interest securities assets.

In the same way, the equities market has also seen an influx of foreign interest participation amidst banking sector recapitalisation.

Based on the data obtained from FMDQ, total inflows into the Nigerian Autonomous Foreign Exchange Market (NAFEM) rose by 53.3% to USD4.74 billion in January from USD3.09 billion in December, 2024.

The improvement, according to Cordros Capital Limited was primarily due to a substantial increase in inflows from foreign sources and collections from local sources. Further details revealed that foreign sources accounted for 48.8% of the total inflows in the forex market while collection from local sources accounted for 51.2% of the sum.

Specifically, inflows from foreign sources increased by 192.1% In January to USD2.31 billion from USD790.30 million in December – the highest level in twenty-three months. This strong FX inflows boost was supported by increased market confidence and improved carry trade opportunities in the capital market.

As a result, the foreign portfolio investors segment, which rose by +213.0% month on month, recorded higher accretion, while inflows from other corporates and foreign direct investment segments dropped by 45.4% and 36.5% respectively.

At the same time, inflows from local sources increased by 5.6% to USD2.43 billion from USD2.30 billion driven by increase in inflows from individuals, exporters/importers and CBN segments, amid a decline in the non-bank corporates segment.

FX supply from individuals climbed 33.2% in January, exporters inflows rose by 20.9% and 20.1% increase in CBN inflows was reported though non-bank corporates declined by 10.7% in the same month.

Barring any shock, analysts at Cordros Capital Limited anticipate FX inflows to remain robust in the short term due to improved market confidence, which has been bolstered by the adoption of the Electronic Foreign Exchange Market System (EFEMS). Zenith Bank Hits 52-Week High in Fresh Rally Ahead of Earnings.

Source: Market Forces

Previous Post

PMI launches new ISO-accredited PMI-PMOCP™ certification

Next Post

Motherland 2025 Initiative To Unlock Tourism, Investment Opportunities to Diaspora Nigerians

Next Post

Motherland 2025 Initiative To Unlock Tourism, Investment Opportunities to Diaspora Nigerians

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

RECOMMENDED NEWS

Transcorp Hotels Plc Wins Independent Newspapers Hospitality Company of the Year

Transcorp Hotels Plc Wins Independent Newspapers Hospitality Company of the Year

2 months ago

Gov Ortom Honoured with one of Rivers State’s Highest Honours

2 years ago

NIWA MD Moghalu Mourns Victims of Boat Mishap in Niger, Adamawa States 

2 years ago
Leadway Assurance Pays N67 Billion Claims in 2023

Leadway Pensure PFA Advocates Additional Voluntary Contributions For Future-Proof Financial Security

2 months ago

FOLLOW US

  • 86.2k Followers

BROWSE BY CATEGORIES

  • Aviation
  • Brands
  • Crime
  • Editorial
  • Features | Analysis
  • Finance | Insurance | Pension
  • Health | Environment
  • Industry | Trade | Commerce
  • International
  • Interview | Profile
  • News
  • Opinion
  • Politics
  • Small Business
  • Sports
  • Top News
  • Transport & Blue Economy
  • Uncategorized

BROWSE BY TOPICS

2023 Benue Budget Abuja-Kaduna Rail Access Corporation Access pension airports concession Aviation Ayu Benue Budget Benue Community Buhari Business CBN Central Bank Dana Air Economy FGPL Herdsmen Herdsmen attacks insecurity insurance Maritime Min of Transport MSMEs NAICOM NCAA Nigeria Nigeria -Cameroon Border Post Nigeria Air NRac Onne Port ooh Orrom Ortom PDP PenCom pension Railway Sambo Jaji Transcorp Transcorp Group Transcorp Hotels Plc UBA Ukohol Wike Wildon Ideva

BROWSE BY CATEGORIES

  • Aviation
  • Brands
  • Crime
  • Editorial
  • Features | Analysis
  • Finance | Insurance | Pension
  • Health | Environment
  • Industry | Trade | Commerce
  • International
  • Interview | Profile
  • News
  • Opinion
  • Politics
  • Small Business
  • Sports
  • Top News
  • Transport & Blue Economy
  • Uncategorized

Economy Footprint

The EconomyFootprint is published by Ideas Tent Communications Ltd®. All Rights Reserved.

Follow us on social media:

Recent News

  • Qatar Airways Dedicates Special UEFA Champions League Livery to Bring PSG Home
  • Operation Whirlwind Strikes Smugglers, Auctions Seized PMS at Subsidised Rate
  • How Support From Military High Command Help Troops To Tackle Lakurawa, bandits – Col Umar

Category

  • Aviation
  • Brands
  • Crime
  • Editorial
  • Features | Analysis
  • Finance | Insurance | Pension
  • Health | Environment
  • Industry | Trade | Commerce
  • International
  • Interview | Profile
  • News
  • Opinion
  • Politics
  • Small Business
  • Sports
  • Top News
  • Transport & Blue Economy
  • Uncategorized

Recent News

Qatar Airways Dedicates Special UEFA Champions League Livery to Bring PSG Home

Qatar Airways Dedicates Special UEFA Champions League Livery to Bring PSG Home

June 1, 2025
Operation Whirlwind Strikes Smugglers, Auctions Seized PMS at Subsidised Rate

Operation Whirlwind Strikes Smugglers, Auctions Seized PMS at Subsidised Rate

June 1, 2025
No Result
View All Result
  • Home
  • Politics
  • News
  • Sports
  • Opinion