Nigeria’s forex reserves surge to $35.19bn, highest in five months

Nigeria’s foreign exchange reserves rose by $1.17 billion in the first 14 days of this month to the highest level in almost five months, according to the latest data from the Central Bank of Nigeria.

The reserves, which have risen consistently since August 25 after wobbling for several weeks, jumped to $35.19 billion on Sept. 14 from $34.02 billion at the end of last month.

The CBN data showed that the reserves had fallen to a record low of $33.09bn on July 12 from $34bn on June 10.

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