Devaluation: External reserves fall $1.65bn in six months

Devaluation: External reserves fall $1.65bn in six months

Nigeria’s foreign exchange reserves have fallen by $1.6bn to $32.97bn since the Central Bank of Nigeria tried to unify the country’s foreign exchange rates. On June 14, the apex bank asked Deposit Money Banks to remove the rate cap on the naira at the official Investors and Exporters’ Window of the foreign exchange market to

 
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Source: Devaluation: External reserves fall $1.65bn in six months

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