Lagos - Nigeria’s foreign exchange reserves which stood at $37.87 billion as at April 5 has about $10 billion of it as 'hot money', reports ThisDay.
'Hot money' refers to the flow of speculative funds from one country to another in order to earn short-term gains or profits.
Financial experts have warned that this portends a great danger for the economy as the 'hot money' could exit as much speed that it has come in and that could hurt the market.
Read more at ThisDay
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