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
Gross Liquid
6/22/2016 26,434,875,124 25,790,768,978
6/21/2016 26,447,053,510 25,802,742,897
6/20/2016 26,443,345,035 25,798,679,883
6/17/2016 26,445,433,756 25,799,722,934
6/16/2016 26,443,785,537 25,797,695,205
6/15/2016 26,447,628,906 25,801,155,752
6/14/2016 26,449,794,621 25,802,952,529
6/13/2016 26,448,391,392 25,801,172,651
6/10/2016 26,430,082,452 25,781,834,322
6/9/2016 26,423,473,238 25,774,887,813
6/8/2016 26,401,408,492 25,752,480,661
6/7/2016 26,383,208,721 25,733,977,691
6/6/2016 26,374,462,611 25,724,898,374
6/3/2016 26,372,074,606 25,721,549,532
6/2/2016 26,372,681,186 25,721,814,572
6/1/2016 26,377,096,590 25,725,893,783
5/31/2016 26,387,286,124 25,735,985,326
5/27/2016 26,422,899,284 25,771,305,329
5/26/2016 26,439,683,894 25,787,999,945
5/25/2016 26,455,651,003 25,803,940,683
5/24/2016 26,483,985,711 25,832,247,122
5/23/2016 26,506,667,908 25,854,857,947
5/20/2016 26,569,781,370 25,917,761,286
5/19/2016 26,587,601,426 25,935,482,018
5/18/2016 26,625,969,381 25,973,759,792
5/17/2016 26,656,283,753 26,004,023,441
5/16/2016 26,684,140,242 26,031,843,075
5/13/2016 26,762,856,916 26,110,470,704
5/12/2016 26,783,763,751 26,131,336,170
5/11/2016 26,787,594,493 26,135,104,567
5/10/2016 26,801,402,556 26,148,856,227

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.

Details to come later……

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