Nigeria’s foreign exchange reserves were $31.43 billion on
August 27, up 1.12 percent from $31.08 billion a month earlier, data
from the central bank showed on Monday.
The forex reserves of Africa’s top crude exporter were down 20.65 percent year-on-year from $39.61 billion a year ago.
The decline from $31.63 billion on August 14 reflects consistent dollar sales by the central bank to bureau de change operators to narrow the margin between the naira currency’s official and black market rates.
The forex reserves of Africa’s top crude exporter were down 20.65 percent year-on-year from $39.61 billion a year ago.
The decline from $31.63 billion on August 14 reflects consistent dollar sales by the central bank to bureau de change operators to narrow the margin between the naira currency’s official and black market rates.
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