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Nairaland Forum / Nairaland / General / Business / Nigeria’s External Reserves Rise $595m (11688 Views)
Nigeria’s External Reserves Rise By 1.1% In 6 Days / Nigeria’s External Reserves Hit 3-year High At $33.112 Billion / External Reserves Hit Two-week Low As Naira Weakens (2) (3) (4)
Nigeria’s External Reserves Rise $595m by Truth234(m): 6:18am On Aug 30, 2016 |
The Nigerian foreign exchange reserves increased by $595 million to $26.20 billion, according to the latest data from the Central Bank of Nigeria. This is its highest in a month. This was after the Naira traded at a record low of 414 against the US dollar on Sunday at the parallel market before retreating to 412 on Monday. According to Mr. Sewa Wusu, the Head of Research and Investment Advisory at SCM Capital Limited, a lot factors could lead to the increase in the external reserves. He explained “The increase in international crude oil prices penultimate week on the heels of production freeze expectations from OPEC may have raised the external reserves position. Although we are currently witnessing production cut due to the militants’ vandalism, the lag effect of this crude price increases may have raised the reserves.” External reserves which stood at $26.21 billion as of July 28, declined to $25.6 billion by August 24, the CBN data showed. The decline was largely due to the efforts of the CBN to boost liquidity at the interbank market and support the ailing naira by selling dollar to ease the economic gridlock created by the forex scarcity. However, the reserves had plunged by over 10 percent from a year ago when it was $29.7 billion. http://investorsking.com/nigerias-external-reserves-rise-595m/ 2 Likes |
Re: Nigeria’s External Reserves Rise $595m by eddie30(m): 6:44am On Aug 30, 2016 |
Hmmm........Increased by $595 M today, decrease by $600 M tomorrow.... Issoriate.. Let's keep our eyes opened.. 24 Likes 1 Share
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Re: Nigeria’s External Reserves Rise $595m by damton(m): 6:45am On Aug 30, 2016 |
8 Likes |
Re: Nigeria’s External Reserves Rise $595m by dayleke: 6:45am On Aug 30, 2016 |
Nice |
Re: Nigeria’s External Reserves Rise $595m by ozo13(m): 6:45am On Aug 30, 2016 |
Truth234: 2 Likes |
Re: Nigeria’s External Reserves Rise $595m by ibbjnr(m): 6:45am On Aug 30, 2016 |
we must surely get there Insha Allah 8 Likes |
Re: Nigeria’s External Reserves Rise $595m by jidxin(m): 6:46am On Aug 30, 2016 |
Anoda lie from APC 26 Likes 1 Share |
Re: Nigeria’s External Reserves Rise $595m by Qmerit(m): 6:46am On Aug 30, 2016 |
Some would say it's a lie and believed when it fell! Some people re programmed for negative/bad news brain-syndrome. 50 Likes |
Re: Nigeria’s External Reserves Rise $595m by annexworld(m): 6:46am On Aug 30, 2016 |
Happy to hear that |
Re: Nigeria’s External Reserves Rise $595m by eph12(m): 6:46am On Aug 30, 2016 |
ibbjnr:Get where? Is there a target we are supposed to achieve? 33 Likes |
Re: Nigeria’s External Reserves Rise $595m by jazinogold(m): 6:49am On Aug 30, 2016 |
OK...and dollars too go rise b dat |
Re: Nigeria’s External Reserves Rise $595m by Samexdx(m): 6:49am On Aug 30, 2016 |
. |
Re: Nigeria’s External Reserves Rise $595m by beycity(m): 6:49am On Aug 30, 2016 |
Is this suppose to be a good news? 8 Likes |
Re: Nigeria’s External Reserves Rise $595m by 4nobody4every1: 6:49am On Aug 30, 2016 |
Re: Nigeria’s External Reserves Rise $595m by nicedas(m): 6:50am On Aug 30, 2016 |
God bless buhari 4 Likes |
Re: Nigeria’s External Reserves Rise $595m by samx4real(m): 6:50am On Aug 30, 2016 |
How does it affect d price of rice and dollar? 14 Likes |
Re: Nigeria’s External Reserves Rise $595m by isiomaella: 6:50am On Aug 30, 2016 |
Latter now dis so called politicians will say we don't have money 1 Like |
Re: Nigeria’s External Reserves Rise $595m by sarrki(m): 6:51am On Aug 30, 2016 |
I know & I believe that Nigeria will be Great again 2 Likes |
Re: Nigeria’s External Reserves Rise $595m by eleojo23: 6:51am On Aug 30, 2016 |
Things are so bad right now that we are trying hard to find pieces of good news to console ourselves with. 17 Likes |
Re: Nigeria’s External Reserves Rise $595m by Ehins22(m): 6:51am On Aug 30, 2016 |
Re: Nigeria’s External Reserves Rise $595m by Smhart1(f): 6:51am On Aug 30, 2016 |
Waiting patiently to hear how it falls tomorrow . . Nonsense government 2 Likes |
Re: Nigeria’s External Reserves Rise $595m by emymeeky: 6:52am On Aug 30, 2016 |
I'm only interested in $1= N1 12 Likes |
Re: Nigeria’s External Reserves Rise $595m by Dejiy10(m): 6:52am On Aug 30, 2016 |
we are talking of tangible betterment of the nation that everybody will feel, they are saying international reserves bs..abeg.. 6 Likes |
Re: Nigeria’s External Reserves Rise $595m by Johnpaul2k2(m): 6:53am On Aug 30, 2016 |
Re: Nigeria’s External Reserves Rise $595m by Trapnews: 6:55am On Aug 30, 2016 |
Re: Nigeria’s External Reserves Rise $595m by Innodon(m): 6:55am On Aug 30, 2016 |
Still waiting for $1 to N1 9 Likes |
Re: Nigeria’s External Reserves Rise $595m by daniska3yaro(m): 6:55am On Aug 30, 2016 |
eph12: |
Re: Nigeria’s External Reserves Rise $595m by seacoast(m): 6:56am On Aug 30, 2016 |
Odi mma |
Re: Nigeria’s External Reserves Rise $595m by recievesense: 6:57am On Aug 30, 2016 |
If we have $500,000,000,000.00 in our foreign reserve and dollars is N 414.00 to the dollar, who the news epp? 10 Likes |
Re: Nigeria’s External Reserves Rise $595m by BoneTackle: 6:57am On Aug 30, 2016 |
Another lie to cover up the abysmal economic deficiencies of the doghari govt This is justban attempt to take our minds away from the obvious fact that Nigeria has the worst foreign exchange performance in the world Thanks to the animal called buhari 6 Likes |
Re: Nigeria’s External Reserves Rise $595m by fortunateice(m): 6:58am On Aug 30, 2016 |
We all know that '' just as it rises it will fall... |
Re: Nigeria’s External Reserves Rise $595m by okosodo: 6:58am On Aug 30, 2016 |
When they are not spending it for anybody 6 Likes |
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