Forex re­serves fall to $26.34 bil­lion

Daily Trust - - FRONT PAGE -

Nige­ria’s forex re­serves fell marginally to $26.34 bil­lion by June 28, down 0.30 per­cent from a month ago, cen­tral bank data showed yes­ter­day.

Dol­lar re­serves of Africa’s big­gest econ­omy stood at $26.42 bil­lion last month, down 9.2 per­cent from a year ago.

The cen­tral bank lifted 16-month-old cur­rency con­trols last week and auc­tioned $4 bil­lion in the spot and fu­tures mar­ket to clear a back­log of dol­lar de­mand, to help boost in­ter­bank mar­ket trad­ing. (Reuters)

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