Nigeria’s Forex Reserves Lose $693.5m After CBN Resumption Of Dollars Sales To BDCs

Nigeria’s gross foreign exchange reserves have shed at least $693.5m since the Central Bank of Nigeria resumed the sale of dollars to approved Bureau de Change dealers, THE WHISTLER can report.

Data analysed by THE WHISTLER from the ‘movement in reserves’ published by the apex bank shows that gross reserves fell by 18.5 per cent from $34.2bn held on March 21, 2024, to $33.57bn on April 2, 2024.

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