- Foreign reserves climb from $36.2 billion to $39.3 billion in under two months
- High-interest rates and rising oil output attract foreign investments, boosting reserves
Lagos, Nigeria – Nigeria’s foreign exchange reserves rose by over $3 billion in less than two months, as inflows increased and the Central Bank of Nigeria (CBN) shifted away from using external earnings to defend the naira. The reserves grew from $36.2 billion on September 2, 2024, to $39.3 billion by October 2, according to CBN data.
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