Latest report released by the Central Bank of Nigeria (CBN) indicated that the nation’s foreign exchange reserves increased by $262 million after weeks of decline.
Gatekeepers News reports that Nigeria’s reserves specifically rose to $32.369 billion as of May 6, 2024, an improvement from a one-month dip of $32.107 billion.
According to CBN’s data, the reserves stood at $34.450 billion on March 18 but declined to $32.107 billion on April 19.
However, with the recent uptick in the Nigerian government between April 19, 2024, and May 6 2024, the country’s FX reserves experienced a rise from $32.107 billion to $32.369 billion.
Meanwhile, the country’s foreign exchange crisis has persisted.
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