CENTRAL BANK DATA REVEALS 990 MILLION DOLLAR DROP IN EXTERNAL RESERVES

Latest statistics obtained from the Central Bank reveal that the nation’s foreign exchange reserves have fallen by 990.98 million dollars this month.

The external reserves, which stood at 47.11 billion dollars at the end of last month, declined to 46.128 billion dollars on August 23, 2018.

The apex bank noted that the evolution of the foreign exchange market in the country had been influenced by a number of factors such as the changing pattern of international trade, institutional changes in the economy and structural shifts in production.

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