How Nigeria's forex reserves rose to a three week high

• The Nigerian foreign exchange reserves have seen a notable increase of about $262 million in the last three weeks
• The foreign reserves had depleted to $32 billion in April compared to the $34.45 billion in March
• The reserves serve as a buffer against the depreciation of the Nigerian currency, the naira

Legit.ng’s Pascal Oparada has reported on tech, energy, stocks, investment, and the economy for over a decade.

After several weeks of depletion, Nigeria’s foreign exchange reserves have increased marginally by about $262 million in 19 days.

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