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Vanguard News
FOREX: Turnover in I&E window falls 82% to $3.7bn
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By Babajide Komolafe & Elizabeth Adegbesan
The volume of dollars traded (turnover) in the Investors and Exporters (I&E) window of the foreign exchange (FOREX) market fell year-on-year (YoY) to $3.7 billion in the first quarter of this year (Q1’21) from $20.49 billion in Q1’2020.
However, while the YoY trend shows a huge decline, the Month-on-Month, MoM, trend in the first quarter of this year is showing a steady rise.
Financial Vanguard analysis of transactions in the window as published by FMDQ showed that on a monthly basis, the turnover stood at $906.44 million in January 2021 from where it rose by 43 percent to $1.3 billion in February. The upward trend continued in March rising by 15 percent to $1.5 billion.