Naira maintains stability at official market as forex turnover surged by over 300%

Similarly, Natural gas lost 5.47% to close at $4.894, while Nigeria crude, Bonny Light gained 1.26% to trade at $81.69 per barrel, Brass River and Qua Iboe both declined by 1.2% to close at $81.43 per barrel.

Nigeria’s foreign reserve declined yet again by 0.06% to close at $41.43 billion as of Tuesday, 16th November 2021 compared to $41.46 billion recorded as of the previous day.

The nation’s foreign reserve had gained $5.04 billion in the month of October, as a result of the $4 billion raised by the federal government from the issuance of Eurobond in the international debt market.

The gains recorded in the previous month is higher than the $2.76 billion gain recorded in the month of September 2021. Meanwhile, Nigeria’s reserve has declined by $388.93 million so far in the month of November. On a year-to-date basis, the reserves have gained $6.06 billion.

Source: NairaMetrics

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