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Nigeria’s forex reserves fall 2.68 percent to $27.14 bln in April – cenbank data

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LAGOS, April 29 (Reuters) – Nigeria’s foreign exchange reserves fell by 2.68 percent to $27.14 billion as of April 27 from a month ago, when they were 27.87 billion, central bank data showed on Friday.

The reserves declined by 5.55 percent from $29.51 billion a year ago.

A plunge in oil prices has eaten into the foreign reserves of Africa’s biggest economy, with the central bank adopting fixed exchange rate to protect further depletion of its reserves.

 

 

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