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Home Business News Politics

Foreign Reserve Down 0.84% To $30.13 bln

Editor by Editor
October 30, 2015
in Politics
Foreign Reserve Down 0.84% To $30.13 bln
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Nigeria’s foreign exchange reserves fell to $30.13 billion by Oct. 27, down 0.84 percent from a month ago, Central Bank of Nigeria’s data showed on Friday.

Foreign reserves were down 22.43 percent year-on-year from $38.86 billion a year ago, the data showed.

The fall in reserve reflects the sale of dollars by the central bank to defend the naira currency which has been hit by the plunge in oil prices.

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