Nigeria’s forex reserves rise for first time in 15 months -CBN

Nigeria’s official foreign exchange reserves rose for the first time in 15 months to $24.69 billion on November, 28, 2016. The Central Bank of Nigeria (CBN) data showed on Wednesday.

According to Reuters’ report monitored by Business247 News Online,  this means that the reserves up 3.1 per cent on the previous month. A year earlier reserves stood at $30 billion.

The CBN gave no reason for the rise. However, global oil prices recovered slightly during the period as OPEC members tried to strike oil output deal.