Central Bank of Nigeria, CBN, data on Tuesday, October 16, showed that Nigeria’s foreign exchange reserves jumped to the highest in almost three years as of Oct. 12, hitting $33.11 billion,
That put the country’s dollar reserves back at a level not seen since December 2014, the data showed.The bank did not provide a reason for the increase in reserves.
Nigeria’s forex buffer stood at $25.73 billion, up 28.68 percent from a year ago, but is still far off a peak of $64 billion hit in August 2008, Reuters reports.
