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LequteMan
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Nigeria's foreign reserves on Dec. 1 fell to a six-month low of $36.7 billion, down 4.5 percent from the previous month as the Central Bank of Nigeria, CBN, stepped up its defence of the naira currency, according to the bank's website. Reuters reports.
Reserves of Africa's biggest economy and top oil producer stood at the same level as in June this year and were down from $38.45 billion on Nov. 2, the data showed on Wednesday.
The naira has fallen 11.3 percent against the dollar this year, including an 8 percent one-off devaluation by the central bank last week, as global oil prices plunged.
#Nigeria #Forex
Reserves of Africa's biggest economy and top oil producer stood at the same level as in June this year and were down from $38.45 billion on Nov. 2, the data showed on Wednesday.
The naira has fallen 11.3 percent against the dollar this year, including an 8 percent one-off devaluation by the central bank last week, as global oil prices plunged.
#Nigeria #Forex
