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BANKING & FINANCENEWSLETTER

Foreign Reserves Slide To $30.04billion

The Central Bank of Nigeria, CBN, on its website on Monday, November 30 stated that the nation’s foreign reserves plunged to 30.04 billion dollars as at Nov. 26.

The Apex bank said that the figure fell by seven million dollars from 30.11 billion dollars recorded in Oct. 26.

It said the 30.04 billion dollars represented the ‘gross’ amount, 29.33 billion dollars was ‘liquid’, while $719.32 million was ‘blocked.’

The nation’s banking regulator said the continuous pressure on the foreign exchange market is due to the rise in the internal demand for dollars.

The CBN said that the price of crude oil at the international market stood at 44.27 dollar per barrel as at Nov. 30. (NAN)

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  1. […] Central Bank of Nigeria, CBN, has bemoaned the about $40 billion depletion from the nation’s external reserves in 10 […]

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