Nigeria’s dollar reserves grows by 3% to $34.53bn November

Nigeria’s foreign exchange reserves stood at $34.53 billion as of November 24, up nearly 3 percent compared with October standing. Data from the Central Bank of Nigeria showed on Thursday.

The bank did not provide a reason for the increase in reserves, which stood at $33.58 billion last month.

The nation’s forex buffer has climbed 40.5 percent this year from a year ago, but is still far off a peak of $64 billion hit in August 2008.