GTB 737 banner Yudala banner

Foreign reserves hit $30 billion

By News Express on 13/03/2017

Share on facebook Yahoo mail icon Gmail icon

Views: 571

•CBN Headquarters.
•CBN Headquarters.

For the second time since President Muhammadu Buhari assumed office in May 2015, Nigeria’s foreign reserves have hit the 30 billion dollar mark.

The latest figures from the nation’s apex bank (CBN) show that the reserves which have experienced a steady day-on-day increase of between 2.30 and 2.75 % since January 5, 2017, closed the trading week above 30 billion dollars.

The last time the reserves crossed the 30 billion dollar mark was in July 2015, and went as high as 31.63 billion dollar in August of the same year before it began to decline.

The reserves were affected by low crude oil prices across the world, which reduced the availability of foreign exchange and in turn, put pressure on the Naira.

The rising reserves may be attributed to oil prices, which have soared as a result of agreed production cuts between OPEC and non-OPEC members.

Since February 2017, the Central Bank of Nigeria (CBN) has been providing foreign exchange to banks to meet the tuition, travel and medical needs of customers, thereby reducing the pressure on the Naira. (Channels TV)

Source News Express

Posted 13/03/2017 10:22:41 AM

 

Share on facebook Yahoo mail icon Gmail icon


 

CLASSIFIED ADS

Loss Off Your Belly Fats, Upper Arm Fat and Body Fats In 2weeks Time.. Click HERE To Start Now!

Let us build the most comprehensive online database of worthy and credible Nigerians from all walks of life. It is worth doing!

 

You may also like...
CBN reassures investors on Nigeria’s strong economic fundamentals...

Saraki receives music star Patoranking, says National Assembly...

APC to take over Aso Rock in 2015...

Oshiomhole under fire for telling poor widow to...

Dickson dissolves Bayelsa LG caretaker councils, sacks chairmen...

WHY I went into refinery and fertiliser business...

“Okonjo-Iweala, target of kidnappers” (Mom’s abductors demand N1...

Jonathan unveils commemorative N100 note Nov. 5

Admission forms not yet ready: JAMB

Dele Giwa’s murder: IBB WILL FACE JUSTICE —Akinnola...

Mobil, Chevron, Shell lead gas flare chart

Kudirat’s murder: Why court freed Al-Mustapha •Lawyers speak...

 

Latest News Global hunt for Nigerian cyber criminal Peter Obi didn’t make me Governor — Obiano Usain Bolt set for Man U debut Court martial sentences Air Force man to death for killing girlfriend APC members grumble over appointments 2,424 illegal schools closed down in Benue Group seeks probe of France’s alleged involvement in Boko Haram attacks Ribadu raises alarm over plot to scuttle anti-graft war INEC threatens perpetrators of electoral illegalities with jail term FG secures $1.5bn fund for power transmission Wike calls for increased investments in SCIENCE, TECHNOLOGY We don’t have enough money to execute projects – Amaechi

 

Most Read Nigerian female sex addict opens up, says ‘I like it with both men and women’ (271,154 views) NUDE PHOTO OF OMOTOLA JALADE-EKEINDE surfaces online (252,833 views) Shameless Genevieve Nnaji exposes breasts in public (205,432 views) Igbo scholar disgraces Femi Fani-Kayode •Demolishes claims on Igbo/Yoruba history with facts and figures (174,027 views) Finally named: The full list of friends of Nigerian female sex addict who prowled Facebook (172,401 views) OLUMBA OLUMBA OBU (the one who called himself God) IS DEAD (153,916 views) Breaking News: POPULAR REVEREND CONVERTS TO ISLAM in Kaduna (Nigeria) (133,260 views) THE FINAL DISGRACE: Igbo scholar unleashes more facts about Igbo/Yoruba history, finishes off Femi Fani-Kayode with second article (124,788 views) OBJ’s son reported dead in Lagos plane crash •Names of more victims emerge (117,369 views) Lagos plane crash: Journalist releases victims’ names (108,902 views) Gunmen kill ASP, 2 other police officers in vain bid to kidnap Rivers PDP chieftain (108,359 views) APC cries foul as PDP’s Fayose takes early lead in Ekiti governorship election (100,903 views)

 

Categories Advertorials (3) African Press Organisation (81) Art & Literature (27) Business (2,659) Business Verdict (18) Columnists (726) Complaints & Requests (92) Enterprise & Opportunities (172) Entertainment (350) Features (474) Global Business Monitor (170) International (1,492) Interviews (128) Live Commentary (28) Love Matters (67) News (27,474) Opinion (780) Pidgin (8) Politics (3,849) Religion (594) Sports (1,304) Stock Watch (23) AMA & Al Jazeera Global Update

 

UBA mobile app

CBN words on marble advert

 

 

Senator Adeleke on the dancing steps in London

 

APO Newsbreak logo

 

CLASSIFIED ADS

Loss Off Your Belly Fats, Upper Arm Fat and Body Fats In 2weeks Time.. Click HERE To Start Now!

Let us build the most comprehensive online database of worthy and credible Nigerians from all walks of life. It is worth doing!

GOCOP Accredited Member

GOCOP Accredited member

 

 

Africa Media Agency and Al Jazeera

Advertisement



 

 

CLASSIFIED ADS

Loss Off Your Belly Fats, Upper Arm Fat and Body Fats In 2weeks Time.. Click HERE To Start Now!

Let us build the most comprehensive online database of worthy and credible Nigerians from all walks of life. It is worth doing!