The value of transactions in the FX Market settled at $14.77billion in May, a decrease of 10.31 percent ($1.70bn) when compared with the value recorded in April ($16.47bn).
Liquidity flows via the I&E FX Window increased as the total volumes traded for the month settled at $6.40billion, representing a 34.91 percent ($1.65bn) increase from the previous month ($4.74bn).
So far, the total volumes traded at the Window Year-to-Date stands at $26.35billion. Exchange rates for the Naira depreciated at the Investors’ & Exporters’ (I&E) FX Window as rates closed the reporting month at $/N360.97 from $/N360.51 as at April 30, 2018, whilst also trading at a discount to the Parallel Market as rates closed the reporting month at $/N363.00 from $/N362.00 as at April 30, 2018.
