Tag "representing an appreciation of 0.58 per cent or N1.interbank foreign exchange market"

    External reserves drop by $4.72b in four months

External reserves drop by $4.72b in four months

The country’s external reserves have witnessed a massive decline of $4.72b in the last four months, dropping to $38.13b as of April 30, 2014. Figures obtained from the Central Bank of Nigeria revealed that the external reserves, which amounted to $42.85b, at the end of December 2013, have been drawn down by 11 per cent. The decrease in the reserves was [...]

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