External reserves rise by 20% in three months

According to the latest data from the Central Bank of Nigeria, the nation’s external reserves have risen by $4.7bn or 20 per cent in the past three months.

Statistics on the CBN website revealed that the foreign exchange reserves increased from $24bn on November 9, 2016 to $28.7bn on February 9, 2017.

The data also showed that within two months, the reserves increased by $3.8bn or 15.3 per cent from $24.9bn recorded on December 9, 2016 to $28.7bn on February 9, 2017.

In the same vein, the reserves have increased by $2.9bn or 11.2 per cent since the beginning of this year till date. Specifically, the external reserves rose from $25.8bn on December 30, 2016 to $8.7bn recorded on February 9, 2017.

The nation’s external reserves had risen by 15 per cent in three months, the CBN data showed in late January.


Please follow and like us:

Leave a Reply

Follow by Email