Nigeria’s FX reserves hit $34.7bn

Nigeria’s FX reserves hit $34.7bn

Nigeria’s foreign exchange reserves have reached a high of $34.7bn, according to data obtained from the Central Bank of Nigeria’s website by PUNCH Online on Sunday. This represents an increase of $110m from the previous day’s figure of $34.5bn. The reserves have been steadily increasing over the past week, with a total gain of $316m since July 1.. This growth has been attributed to several factors, including the recent increase in oil prices, improved diaspora remittances, and the Central Bank’s …