Home News Nigeria’s Reserves Dropped To $30.04bn – CBN
Nigeria’s Reserves Dropped To $30.04bn – CBN

Nigeria’s Reserves Dropped To $30.04bn – CBN

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CBNNigeria’s foreign reserves has dropped to $30.04 billion dollars as at November 26, the Central Bank of Nigeria (CBN) said on its website on Monday.

The figure represents a $7 million shortfall from the $30.11 billion recorded on October 26.

The CBN said the $30.04 billion represented the “gross” amount while $29.33 billion was “liquid” and $719.32 million was “blocked”.

The CBN further noted that the sustained pressure on the FOREX market is due to the rise in the internal demand for dollars.

The CBN added that the price of crude oil at the international market stood at $44.27 per barrel as at November 30.

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