Nigeria’s External Reserves Continue To Increase, Hit $26.5bn

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Nigeria’s External Reserves Continue To Increase, Hit $26.5bn

The latest data from the Central Bank of Nigeria (CBN) on Tuesday indicated that the country’s external reserves have risen to $26.55bn on January 9, from $26.2bn on January 6.

The foreign exchange reserves had hit $26bn on January 3, 2017, up from $25.8bn on December 30, 2017, the CBN statistics added.

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On December 30, 2016, the reserves closed the year with $25.84bn balance.

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The foreign exchange reserves have been rising in recent weeks following the gradual increase in oil price and production output.

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Within the space of about six and half weeks, the reserves have appreciated by $2bn. It went up from $24.5bn on November 24, 2016 to $26.5bn on January 9, 2017.



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