Markets

External reserves rise to $33.5bn as naira trades at N359.97/$

by HOPE MOSES-ASHIKE

October 24, 2017 | 8:10 pm
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The Nigeria’s external reserves have risen to $33.5bn as at Monday October 23, 2017 according to the data from the website of the Central Bank of Nigeria (CBN).

Analysts in the financial services sector have projected that foreign reserves will get to $40 billion mark, the level they last touched in February 2014.

At the foreign exchange market, naira was quoted at N359.97k to the dollar at the Nigerian Autonomous Foreign Exchange Fixing (NAFEX). It lost N0.26k to close at N360.39k per dollar as against N360.13k/$ traded the previous day at the investors and exporters forex window.

The local currency also lost N0.05k to close at the rate of N305.70k per dollar on Tuesday compared to N305.65k quoted on Monday at the official inter-bank market.

 

HOPE MOSES-ASHIKE

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by HOPE MOSES-ASHIKE

October 24, 2017 | 8:10 pm
  |     |     |   Start Conversation

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