NIGERIA’S EXTERNAL RESERVES DROP BY 1.5 BILLION DOLLARS

The Central Bank of Nigeria has said the nation’s foreign exchange reserves fell by 1.45 billion dollars last month.

The external reserves, which stood at 45.8 billion dollars at the end of August, declined to 44.38 billion dollars on September 27, 2018.

The apex bank noted that the evolution of the forex 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 shift in production

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