Foreign reserves drop by $1.64bn in five weeks

69bn on February 20, latest figures from the Central Bank of Nigeria has revealed.According to the figures, the reserves dropped from $39.8bn on November 11, 2019 to $39.24bn on December 13, after falling by $1.26bn from $41.76bn on October 2 to $40.5bn as of the end of October.

“With the drop in forex inflows, the exchange rate at the parallel market rose from about N200/$ in August 2015 to N525/$ in February 2017. Inflation also rose from 9.6 per cent in January 2016 to over 18.7 per cent in January 2017. He said the CBN introduced a demand management approach in order to conserve the country’s reserves and support domestic production of certain goods in Nigeria.

Kyari dey try.

Most countries are shoring up on Gold. Nigeria is still saving in Jewish worthless fiat currency. Gold and precious stones is the only way to stem looting. Let me see who will go and withdraw 100kg worth of gold bars.

Kudos to Mr Kwaruption

When it increases we don't know but when it decreases we will be informed. Shame to leaders of Nigeria.

Can someone please tell me one single thing we are getting right in this country

Well done sir, ur four year will sha complete one day sha..

When Will Our Nation Economy Become What We Can Be Proud Of? Only God Will Help This Country Ooo.

Mad stealing.

They haven't seen anything yet. Beside am not surprised if 5b will be use to get them those national assembly guy exotic cars and 7b for renovation.

Nigeria Latest News, Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Nigeria loses $1.5bn in GDP annually to micro-nutrient deficienciesNigeria loses 1.5 billion dollars in Gross Domestic Products (GDP) annually to Micro-Nutrient deficiency (MND), the World Bank, an international financial institution that provides loan to Nigeria and other developing countries, said. This means that MND causes an increased financial burden on the healthcare system and an indirect loss of productivity, the report states. A …
Source: GuardianNigeria - 🏆 1. / 94 Read more »

Nigeria loses $1.5bn in GDP annually to micro-nutrient deficienciesNigeria loses 1.5 billion dollars in Gross Domestic Products (GDP) annually to Micro-Nutrient deficiency (MND), the World Bank, an international financial institution that provides loan to Nigeria and other developing countries, said. This means that MND causes an increased financial burden on the healthcare system and an indirect loss of productivity, the report states. A …
Source: GuardianNigeria - 🏆 1. / 94 Read more »

What Nigerian senators discussed last week - Premium Times NigeriaAfter spending two of three days in the previous week to mourn their late colleagues, the Senate resumed last week.
Source: PremiumTimesng - 🏆 3. / 78 Read more »

How infraction against NPA endangers foreign investmentsIndeed, NPA gave LADOL 121 hectares of land near the Light House Beach, Tarkwa Bay in Lagos to attract investors and not to sublease.
Source: vanguardngrnews - 🏆 5. / 75 Read more »

LaLiga: Real Madrid drop to second after shock Levante defeat - Daily Post NigeriaReal Madrid dropped to second place in LaLiga, following a shock 1-0 defeat to Levante on Saturday night. Zinedine Zidane's men failed to convert a couple
Source: DailyPostNGR - 🏆 11. / 59 Read more »

LaLiga: Zidane reacts as Real Madrid lose at Levante, drop to second place - Daily Post NigeriaReal Madrid manager, Zinedine Zidane, has lamented his side's form after a 1-0 defeat at Levante on Saturday. The loss means Los Blancos have dropped five
Source: DailyPostNGR - 🏆 11. / 59 Read more »