Nigeria’s foreign exchange reserve slightly fell to $30.25 billion by June 28, down 0.36 percent. Data from the central bank on Friday showed a 14.8 percent rise from a year ago, when they stood at $26.34 billion. Nigeria’s dollar reserves have risen slightly this year thanks to the rise in global oil prices.
The data indicated that the country has added $4.2 billion to its reserves since the beginning of the year. Foreign reserves stood at $26.09 billion at the beginning of the year.
The fall in reserve reflects the sale of dollars by the central bank to bring the country out of recession in line with Federal Government fiscal and economic policies.
