Nigeria’s forex reserves rise by 5.6% month-on- month by July 22, U.K Reuters reports


The reserve rose to $30.69 billion by July 22, up 5.6% from $29.03 billion a month earlier, according a latest data from CBN. The forex reserves of Nigeria were down 20.9% from $38.8 billion a
year ago. The growth in reserves for this month was
attributed to efforts of the present government to plug leakage and demand management by the central bank.

The central bank restricted access to foreign exchange by last month and introduced tight control of the foreign exchange market to curb speculation and conserves forex reserves…… ds old baba is darn too slow. Can’t wait 4him 2b kicked out by 2023

Related Posts