External reserves drop to $45.2billion

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External reserves drop to $45.2billion

By Udeme Clement

Apparently, Nigeria’s external reserves are still on the decline, as the nation’s external reserves currently stand at about $45.2billion.

The data obtained by Financial Business shows that the country’s reserves dropped from about $45.509billion to $45.228billion just last week.

Comparatively, this shows that the nation’s external reserves recorded revenue decline of about $281million from the figures above.

In the same vein, the country’s currency-Naira also experienced a slight depreciation, as the exchange rate at the parallel market increased from N362 per Dollar to about N363 per Dollar, showing a marginal increase in the exchange rate between Naria and Dollar.

 

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