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Home Opinions Blurb

The CBN Has Updated Its ‘New’ External Reserves Position…

Nairametrics by Nairametrics
June 24, 2016
in Blurb
CBN Gov Godiwn Emefiele
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The Central Bank of Nigeria has finally updated its Movement in External Reserves page contained in its official website. The bank was yet to update the movement in external reserves since it commenced the new flexible exchange rate policy on Monday 21st of June 2016.

The bank’s website displayed the following as our external reserve position;

Date
GrossLiquid
6/22/201626,434,875,12425,790,768,978
6/21/201626,447,053,51025,802,742,897
6/20/201626,443,345,03525,798,679,883
6/17/201626,445,433,75625,799,722,934
6/16/201626,443,785,53725,797,695,205
6/15/201626,447,628,90625,801,155,752
6/14/201626,449,794,62125,802,952,529
6/13/201626,448,391,39225,801,172,651
6/10/201626,430,082,45225,781,834,322
6/9/201626,423,473,23825,774,887,813
6/8/201626,401,408,49225,752,480,661
6/7/201626,383,208,72125,733,977,691
6/6/201626,374,462,61125,724,898,374
6/3/201626,372,074,60625,721,549,532
6/2/201626,372,681,18625,721,814,572
6/1/201626,377,096,59025,725,893,783
5/31/201626,387,286,12425,735,985,326
5/27/201626,422,899,28425,771,305,329
5/26/201626,439,683,89425,787,999,945
5/25/201626,455,651,00325,803,940,683
5/24/201626,483,985,71125,832,247,122
5/23/201626,506,667,90825,854,857,947
5/20/201626,569,781,37025,917,761,286
5/19/201626,587,601,42625,935,482,018
5/18/201626,625,969,38125,973,759,792
5/17/201626,656,283,75326,004,023,441
5/16/201626,684,140,24226,031,843,075
5/13/201626,762,856,91626,110,470,704
5/12/201626,783,763,75126,131,336,170
5/11/201626,787,594,49326,135,104,567
5/10/201626,801,402,55626,148,856,227

In other words, the Central Bank is telling Nigerians that it has sold net $12.1 million since Monday even though sources reveal that the CBN may have sold over $600m and another $4 billion in futures. What this likely means is that the CBN had also earned some forex inflow within this period.

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Details to come later……

Nairametrics

Nairametrics

Nairametrics is Nigeria's top business news and financial analysis website. We focus on providing resources that help small businesses and retail investors make better investing decisions. Nairametrics is updated daily by a team of professionals. Post updated as "Nairametrics" are published by our Editorial Board.

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