Nigeria’s FOREX reserves hit one month high

Nigeria’s FOREX reserves hit one month high

Thursday, March 31, 2016 5:53 pm

Nigeria’s foreign exchange reserves rose by 0.18 percent to $27.87 billion by March 29 from a month ago, when they were $27.82 billion, central bank data showed on Thursday.

Reserves stood at $29.79 billion a year ago.

Nigeria is facing its worst economic crisis in decades. A plunge in oil prices has eaten into its foreign reserves as it battles to defend its ailing naira currency.

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