Economic News Update

Reserves stable at $26 billion, naira falls further

The foreign exchange reserves have lost $2.97 billion since this year from combined challenges of low earnings and interventions in defense of the local currency. However, it has recorded a relative stability at $26 billion market since May 2016, more than at other months of the year, with marginal gains and losses, as a result of policy options, improved earnings and demand pressure on the other hand.

 

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Economic News Update

Reserves stable at $26 billion, naira falls further

The foreign exchange reserves have lost $2.97 billion since this year from combined challenges of low earnings and interventions in defense of the local currency. However, it has recorded a relative stability at $26 billion market since May 2016, more than at other months of the year, with marginal gains and losses, as a result of policy options, improved earnings and demand pressure on the other hand.

 

Read More

Comment here

This site uses Akismet to reduce spam. Learn how your comment data is processed.