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Nigeria’s external reserve declines by $1bn

By News Express on 13/09/2016

Views: 1,296


Nigeria’s external reserves have been depleted by one billion dollars in the last five weeks, according to the latest statistics from the Central Bank.

A Channels TV report said the decline was attributed to the regulator’s almost daily sale of currencies or interventions at the new floating foreign exchange market.

Africa’s largest oil producer sees its external forex reserves down by 2.86 per cent to $25.45 billion on August 29 up from $26.2 billion position at July ending.

•Photo shows Finance Minister Kemi Adeosun.

Source News Express

Posted 13/09/2016 10:07:16 PM

 

 

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