External Reserves Soars to $34 billion Nigeria’s external reserve hit a new milestone in June, rising to $34.07 billion, the highest level since March 2024. This information comes from the Central Bank’s external reserve position as of June 26, 2024. Last week, the external reserve reached...

External Reserve Increases Marginally, Naira Depreciates Further Against Dollar to 1,515/$ The Naira decline persisted on Monday, with further depreciation in the parallel market to 1,515 to a dollar. This represents a 2.97 percent (N45/$1) depreciation when compared to the exchange rate of N1,470 on Friday. The...

External reserves drop by $1.02bn – CBN report Nigeria’s foreign exchange reserves have taken a significant hit, dropping by approximately $1.02bn within 18 days as the Central Bank of Nigeria steps up efforts aimed at defending the naira. On March 18, 2024, the FX reserves stood...

Forex Pressure, High External Reserve Remains As MPC Meets Monday, Tuesday   As the Monetary Policy Committee (MPC) meets Monday and Tuesday, there are posers over a relief for the weakening naira or the speedy inflationary rise, which has prevailed despite a $38.7 billion external reserve. Just...

External Reserves Drop Below $47bn, Lowest Since April The nation’s foreign exchange reserves have dropped below $47bn, losing $251m in the first six days of the month, data from the Central Bank of Nigeria showed on Tuesday. The reserves, which stood at $47.119bn as of July...

External Reserves Drops By $669m In July ― CBN   The nation’s external reserves fell by $669m last month, data from the Central Bank of Nigeria showed on Thursday. The reserves, which stood at $47.788bn as of June 29 and rose to N47.798bn on July 2, dropped...