Nigeria's Foreign Exchange Reserves Saw Significant Drop According to CBN Report

Sunday, 7 April 2024, 23:32

The Central Bank of Nigeria revealed a notable decrease of $950 million in the country's foreign exchange reserves within a span of 17 days. The declining reserves indicate the active measures by the Central Bank to stabilize the naira amidst economic challenges.
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Nigeria's Foreign Exchange Reserves Saw Significant Drop According to CBN Report

CBN's Efforts and the Declining Reserves:

Nigeria’s foreign exchange reserves faced a significant reduction of $950 million over a short period of 17 days. The Central Bank of Nigeria is intensifying its efforts to support the naira. The continual decline poses challenges for the country's economic stability.


This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.


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