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Foreign reserves rise by $278 million
10 July 2014, 14:15
Lagos - Nigeria’s foreign exchange reserves stood at $38.018 billion as at Monday, July 7.
The new figure is nearly $278 million higher than the $37.74 billion foreign exchange reserves posted on Friday, July 4, reports New Telegraph .
This increase is attributed to the curbing of the excesses of the Bureau De Change (BDCs) by the Central Bank of Nigeria (CBN).
The apex bank had been using the reserves to support and defend the nation’s currency at the foreign exchange market.
Read more at New Telegraph
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