The naira appreciated N1,510 in the official market and N1,625 in the parallel market after the CBN launched its FX Code to enhance liquidity and transparency. This development comes amid a $1.13 billion drop in Nigeria’s external reserves, as the CBN aims to stabilize the volatile FX market...
Nigeria’s foreign exchange reserves gained 8.8 per cent as of March 28, to $46.2 billion compared to same period in February 2018, according to data from the Central Bank of Nigeria (CBN).
The reserve is still far from the peak of $64 billion recorded in August 2008.
Debt sales such as...
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