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;
|
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……
