Nigeria foreign exchange reserves exceed $30Bn as of March 8- CBN

CBN

Nigeria’s foreign exchange reserves rose above $30 billion as of March 8 to its highest level since October 2015, Central Bank of Nigeria (CBN) data showed on Friday.

Nigeria’s dollar reserves have increased by 15.02 percent since the start of the year, data showed, but were still far off their peak of $64 billion hit in August 2008.

The CBN did not provide any reason for the rise in its reserves, which coincides with a recent rise in crude prices.

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