Nigeria’s foreign reserves declined by $90 million in five days, falling to $55.13 billion as of November 5, 2026, from $55.22 billion recorded on October 30.

Data from the Central Bank of Nigeria (CBN) showed that the decline represented a 0.16 per cent drop in Nigeria’s foreign reserves during the period under review.

The latest figures indicate a reversal of the $295.35 million increase recorded in the country’s external reserves in October 2026.

The decline comes amid movements in the foreign exchange market, with the naira exchanging at N1,346.80 against the United States dollar as of November 6, 2026.

Despite the recent dip in external reserves, the naira recorded a year-on-year appreciation of 6.26 per cent against the dollar over the past 12 months.

External reserves serve as a key buffer for the country’s foreign exchange market and help the CBN meet international payment obligations and support currency stability. (Nigerian Tribune)