Forex Inflow Into NAFEM In March Hits $3.75bn

Foreign exchange inflow into the Nigeria Autonomous Foreign Exchange Market (NAFEM) was on the upswing last month reaching the highest monthly level in over three years as total inflows into the market stood at $3.75 billion in March 2024.

Data from FMDQ showed that the March inflow was a 41.7 per cent improvement over $2.64 billion that was recorded in February this year with local sources contributing 59 per cent of the total transactions whilst foreign sources contributed 41 per cent of gross transactions.

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