Lagos - Nigeria's external reserves continued its lacklustre performance as it fell to $43.5 billion from $43.61 billion in the first few days of 2014,its lowest since November, 2012. The amount represents a 0.6 percent decline
The reserves had five year ago, in August 2008, peaked at $68 billion before it started falling gradually, reports The Nation.
Between May 2 and August 5, 2013, the balance in the account had fallen by $1.8bn to $46.98bn from the April figure of $48.85bn, the highest in 2013.
The decline is an expected reaction to the government's recent decision to use external buffers to support the value of the naira and declining oil receipts.
Read more at The Nation