Connect with us

Business

Nigeria’s Forex Reserves Fall By Nine Percent

Published

on

Estimated Reading Time: <1

Nigeria’s foreign exchange reserves fell 9.04 percent to $30.87 billion by March 4, from $33.94 billion a month earlier, data from the central bank showed on Friday.

The central bank has used the reserves to support the ailing naira currency in Africa’s top crude exporter, which has been hammered by falling global oil prices and uncertainty over the delayed presidential elections due later this month.

Click to comment

Leave a Reply

Your email address will not be published.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