Nigeria’s foreign exchange (FX) reserves have recorded a notable decline, shedding $359.81 million within a single week to settle at $40.56 billion as of January 13, 2025.
The exchange rate between the Naira and the Dollar at the official window saw a significant appreciation of 10.71% on Monday, closing the day at N1,339.33/$1.
Following several weeks of a downward trend, Nigeria's foreign exchange reserves have witnessed a marginal resurgence of about $262 million over 19 days.
Nigeria’s external reserve dipped $24.3 million in the first week of the year to close at $40.49 billion...
Funding rates expanded significantly last week on the back of the N600 billion retail FX funding and CRR Debit.
The liquidity based indicators of the nation remain a concern, as they make Nigeria’s low debt-to-GDP ratio highly vulnerable to shocks.
