Nigeria’s forex reserves have increased further, this time to 27.82 billion dollars as at January 25.
According to data from the Central Bank, the reserves grew from 27.76 billion dollars on January 24 and 27.4 on January 23.
This means that the reserves have increased by 3.1 billion dollars within the first three weeks of 2017.
Economic analysts attribute the increase to a rise in oil prices and production output as well as slowdown in foreign exchange allocation by the CBN.
