On June 26, 2024, Nigeria’s external reserve hit a record high of $34.07 billion.
The most recent foreign exchange statistics available on the Central Bank of Nigeria’s official website supports this.
Since March 2024, the figure denotes the greatest level.
Remember that last week, when it increased to $33.5 billion, the external reserve hit a three-month high
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Since then, reserves have increased dramatically, reaching a level above $34 billion for the first time since March 21, when they were $34.2 billion.
Since June 2024, the external reserves have grown by a significant $1.3 billion.
The announcement coincides with Governor Olayemi Cardoso of the Central Bank of Nigeria’s announcement that the institution’s reforms brought in $24 billion during the first quarter of 2024.
Meanwhile, according to FMDQ data on Thursday, the Naira declined to N1510.10 per Dollar in the forex market despite the growing FX reserves.
