The Central Bank of Nigeria (CBN) has reported that the foreign exchange (FX) inflow through the nation’s economy surged by 3.01% to $22.89 billion from $22.22 billion inflow recorded in the preceding quarter.
The apex bank, in its latest ‘Q3 2024 Economic Report’ published on its website on Friday, indicated that inflows through the Bank rose by 39.63% to $11.86 billion in the quarter under review from $8.49 billion in Q2 2024 while autonomous sources fell by 19.66% to $11.03 billion from $13.72 billion in the preceding quarter.
The report showed that in Q3 this year, FX outflow through the economy rose by 15.18% to $8.43 billion, relative to the level in Q22024.
A further analysis of the report reflected that FX outflows through the Bank rose by 27.91% to $7.31 billion, while those through autonomous sources decreased by 30.06% to $1.12 billion.
Consequently, the data showed that the net FX inflow through the economy decreased by 2.97% to $14.46 billion, from $14.89 billion inflow in the preceding quarter.
The apex bank, however, clarified that net inflow through autonomous sources fell to $9.90 billion in Q3 this year, from $12.12 billion in the preceding quarter just as a net inflow of $4.55 billion was recorded through the Bank compared with a net outflow of $2.78 billion in the preceding quarter.
