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Nigeria external reserve rises

Nigeria external reserve rises to Thirty Billion dollars

10 March 2017 Business


Hopes of further appreciation of the naira brightened yesterday as the nation’s external reserve rose to thirty billion dollars, being the highest in the last thirteen months.

Consequently, the external reserve has risen by four point two billion dollars since the beginning of the year, and by six point two billion dollars since October 19th, 2016, when it commenced its upward trend.

Meanwhile, the naira yesterday appreciated to four hundred and fifty five per dollar in the parallel market as the Central Bank of Nigeria ,CBN, injected another one hundred and ninety- five million dollars into the foreign exchange market.

Operators in the money market have also commended the efforts of the CBN in ensuring the continuous appreciation of the naira.


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