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