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data showed on Friday.
The CBN has been intervening on the currency market this month to support the ailing naira after it effectively
devalued it in a bid to narrow the spread with the black market rate.
Nigeria’s reserves stood at $29.64 billion a month ago and have risen 16.1 percent since the start of the year but are
still far off their peak of $64 billion, hit in August 2008.