External reserves fall to $37.01bn, as foreign investors stay on sidelines

The external reserves fell in January 2023, extending its downward movement from the year before, as foreign investors remained on the sidelines.

According to data from the Central Bank of Nigeria (CBN), Ripples Nigeria learnt that the foreign reserves dropped by 463.62 million last month.

This pushed the international reserves down to $37.01 billion at the end of January 30, 2023, below the $37.08 billion the reserves housed at the end of December 30, 2022.

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