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Nigeria’s Foreign Reserves Increases By $3.15 Billion In 33 Days.

Nigeria’s foreign reserve recorded a progressive growth with the help of Apex bank in the country who continual injects needed funds to foreign financial dominated reserves.

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Nigeria’s foreign reserve recorded a progressive growth with the help of Apex bank in the country who continual injects needed funds to foreign financial dominated reserves.

Naija News learnt that Nigeria’s foreign exchange reserves now stand at $36.57 billion, having increased sharply from $33.42 billion as of April 29, 2020. This shows a gain of $3.15 billion in 33 days.

This Online Media platform also understands that the macro fundamentals surrounding Nigeria’s major export, including the recent jump in crude oil prices to about $40, seem to have helped Nigeria’s foreign reserve to rise at a steady pace.

The development also shows that the governor of the central bank of Nigeria Mr. Godwin Emefiele has kept his word on improving Nigerians local currency and building the foreign financial dominated reserves.

 



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