Nigeria’s forex reserves tumble to three-month low of $39.59bn
Nigeria’s foreign exchange reserves have fallen below the $40 billion mark to the lowest point in more than three months. The reserves
Nigeria’s foreign exchange reserves have fallen below the $40 billion mark to the lowest point in more than three months.
The reserves stood at $39.59 billion as of Monday, down from $40.87 billion at the end of 2024, according to data from the Central Bank of Nigeria.
The country saw its reserves rise for four straight months to $40.92 billion on January 6, 2025 from $36.24 billion on September 2.
Crude oil sales, foreign remittances, foreign currency loans, and yields from foreign assets are among the sources of inflows to the external reserves.
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