dollars
dollars

The Central Bank of Nigeria said the savings reduced to 30.04 billion dollars from 30.11 billion dollars earlier recorded a month ago by the foremost bank.

dollars
dollars

This current figure represents the “gross amount” of which 29.33 billion dollars was “liquid” and 719.32 million dollars is termed “blocked”.

The Nigerian apex bank said the continuous pressure on the foreign exchange market was due to the rise in the internal demand for dollars.

Nigeria’s savings hit 36.3 billion dollars in Oct. 2014 but fell to 32.4 billion dollars in early this year and stood at 28.6 billion dollars by May 2015. This implies that the Nigerian foreign reserves had been swinging back and forth in the last one year. Enditem

Source: Xinhua

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