By Babajide Komolafe
Foreign exchange inflows through the Investors and Exporters (I&E) foreign exchange window hit the $50 billion at the end of February. This huge inflow was instrumental to the stability of the naira against the dollar since 2017.
The Investors and Exporters (I&E) forex window allows investors and exporters to purchase and sell foreign exchange at the prevailing market rate. Prior to the introduction of the I&E window on April 2017, the nation’s foreign exchange market was bedevilled with acute shortage of supply of foreign exchange due to apathy of foreign investors who exited the nation’s financial markets in droves in the wake of the sharp decline in the nation’s external reserve caused by sharp decline in crude oil prices between starting from July 2014.