L
LequteMan
Guest
Nigeria's foreign exchange reserves rose by $598m in the past month despite unrelenting pressure on the naira and dollar demand.
The increase brings the stock of reserves to $24.49 billion, up from $23.91 billion four weeks ago, representing a 2.5 per cent rise.
It also closed up a two-month decline to $247 million, after losing $836 million between September ($24.74) and October ($23.91).
Crude oil price stability, slight improvement in capital importation and the FG's management of the foreign exchange policy through the CBN contributed to the assessed reserves’ accretion.
The increase brings the stock of reserves to $24.49 billion, up from $23.91 billion four weeks ago, representing a 2.5 per cent rise.
It also closed up a two-month decline to $247 million, after losing $836 million between September ($24.74) and October ($23.91).
Crude oil price stability, slight improvement in capital importation and the FG's management of the foreign exchange policy through the CBN contributed to the assessed reserves’ accretion.
