Connect with us

Business

Nigeria’s External Reserves, Hits 10-Year Low, Fall By 15 Per Cent In 2015

Published

on

Nigeria’s external reserves now stands at $29.30 billion as at December 23, 2015.

Data from the Central Bank of Nigeria’s website shows that the reserves declined by 2.41 per cent from $29.34 billion on December 22.

The external reserves has depreciated by over 15 per cent from $34.49 billion at the beginning of the year.

This represents a $5.15 billion decline so far in 2015.

The drop in the forex reserves value has been attributed to the significant reduction in forex inflow into the country, owing to the fall in crude oil prices.

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *