Nigeria’s dollar reserves fell to a two-week low of $30.29 billion on March 29, the Central Bank of Nigeria (CBN)


data showed on Friday.

 Nigeria’s Dollar Reserves At Two Week Low of $30.3billion


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.


SOURCE: businessnews

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