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Foreign exchange reserve fall to $36.40bn

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Figures of the Central Bank of Nigeria (CBN), on Tuesday, indicated that the country's foreign exchange reserve fell by 1.4 percent (month-on-month) to $36.40 billion as at July 25.

A month earlier, Nigeria's foreign exchange reserve was placed at $36.93 and analyst believed the recent decline was due to falling oil prices and strong dollar demand.

Foreign reserves for Africa's top energy exporter stood at $36.71 billion at the end of June, higher from $33.45 billion a year before.


Article Credit: Businessday Newspaper

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Updated 6 Years ago

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