Tuesday, January 19, 2021

Forex inflow through CBN hits $6.97bn in three months

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Foreign exchange inflow through the Central Bank of Nigeria in the third quarter of 2020 stood at $6.97bn.

The CBN disclosed this in the third quarter economic report.

It said foreign exchange inflow through the Central Bank of Nigeria decreased in the third quarter of 2020, largely due to a reduction in non-oil inflow.

The development was attributed to a decline in both oil and non-oil receipts by 9.7 per cent and 44.7 per cent, respectively, below the levels in the preceding quarter and corresponding quarter of 2019.