Excess crude reserve falls by 1.4% to $36.4 billion

The Excess crude reserve fell 1.4 per cent month-on-month to $36.40 billion at July 25, from $36.93 billion a month before, hit by falling oil … Continue reading Excess crude reserve falls by 1.4% to $36.4 billion


The Excess crude reserve fell 1.4 per cent month-on-month to $36.40 billion at July 25, from $36.93 billion a month before, hit by falling oil prices and strong dollar demand, latest figures from the Central bank of Nigeria (CBN) showed on Tuesday.

The Foreign reserves stood at $36.71 billion at the end of June, higher from $33.45 billion a year before.