Friday, 27 February 2015

Nigeria's foreign exchange reserves fall to $31.57 bln by Feb.25


 Nigeria's foreign reserves fell to $31.57 billion by Feb. 25, down 8.33 percent from $34.44 billion a month earlier, latest data from the central bank showed on Friday.

Nigeria's central bank has been drawing down on reserves to support the ailing local currency, hit by falling global oil price and escalating tensions ahead of forthcoming presidential elections next month.
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