Foreign FX inflows into Nigeria slide as portfolio investment dries up

Dollar inflows into Nigeria’s official foreign exchange market declined sharply last week, underscoring persistent fragility in foreign investor confidence despite ongoing reforms in the FX market. Data from the Nigeria Foreign Exchange Market (NFEM) showed that total FX inflows fell by 20.67 per cent week-on-week to US$593.70 million, compared with US$748.40 million recorded

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