Nigeria’s Forex Reserves has Dipped By $505.68 Million In August.
The Genius Media Nigeria reports that Nigeria’s foreign exchange (FX) reserves have dipped by about $505.68 million (1.37%) in August 2024.
This is according to the latest data on the reserves from the Central Bank of Nigeria (CBN).
The marginal decline in the country’s external reserves coincided with the Nigerian government’s issuance of a $500 million domestic dollar bond, which is expected to provide much-needed support to the external reserves.
What the data says
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