Tag Archives: reserve

Nigeria’s external reserves decline by $4.15 billion

Nigeria’s external reserves have in the last one year lost 10.52 percent ($4.15 billion) following declining foreign exchange (FX) inflows through oil sales and other sources. Africa’s largest economy’s foreign exchange reserves dropped to $35.28 billion as of May 4, 2023 from $39.42 billion on May 4, 2022, data from the Central Bank of Nigeria (CBN) showed. The downward trend ...

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