External reserve rises by 15% in three months

Image result for External reserve rises by 15% in three monthsThe Central Bank of Nigeria’s data shows that the nation’s external reserves has risen by 15 per cent in the past three months.

The CBN data shows specifically that the foreign exchange reserves increased by $3.6bn from $23.8bn on October the 19th, 2016 to $27.4bn on January the 19th, 2017.

The statistics also indicated that the balance in the reserves had increased by $1.6bn during the first 19 days of this year. The increase is estimated at 6.2 per cent.

The country’s external reserves, which have been increasing significantly in recent months, had risen to $27.3bn on January the 17th after hitting $26.9bn on January the 13th.

The country’s reserves had recorded $23.89bn low on October 19. The reserves dropped by 15.9 per cent between 2015 and 2016

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