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Saturday, December 9, 2023

Foreign transactions on NGX down by half – Report

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Foreign transactions on the Nigerian Exchange Limited, NGX, dropped by half or 53.16 per cent from N19.62bn (about $42.51m) to N9.19bn (about $19.94m) between February and March 2023.

This was disclosed in the March edition of the Domestic & Foreign Portfolio Investment Report of NGX, which was released this month.

According to the report, “Total transactions executed between the current and prior month (February 2023) revealed that total domestic transactions decreased by 19.06 per cent from N169.29bn in February to N137.03bn in March 2023. Similarly, total foreign transactions decreased more significantly by 53.16 per cent from N19.62bn (about $42.51m) to N9.19bn (about $19.94) between February 2023 and March 2023.”

Also, as of March 31, 2023, total transactions at the local bourse decreased by 22.60per cent from N188.91bn (about $409.72m) in February 2023 to N146.22bn (about $317.09m) in March 2023.

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