reserves

Nigeria Economic Update (Issue 7)

The total stock of money in circulation declined at the end of January, falling by 7.9% month-on month from N2.4 trillion in December1. Although the current stock of currency in circulation is 5% higher than the corresponding year, the decline in currency-in-circulation stands to reduce the current levels of inflation2. This potential impact is in […]

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Nigeria Economic Update (Issue 43)

External/foreign reserves depleted by 0.6% to $40.7 billon for the week in review from $41.04 billion, the lowest since January 2018.3 The reserve has steadily plunged since the last week of July, losing about $5 billion in the last 4 months. The depletion in external reserve is attributable to the Central Bank of Nigeria (CBN) […]

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Nigeria Economic Update (Issue 35)

Latest data from the CBN shows that Nigeria’s external reserves fell significantly in August 2018. As at the end of July, the reserve stood at $47.11 billion; it dropped to $45.83 billion by August 23– losing as much as $1.23 billion in the month. The CBN’s continuous intervention along with affected foreign investment premised around […]

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