Nigeria’s foreign exchange reserves have gained 8.8 per cent as at March 28, to $46.2 billion, compared to same period in February 2018.
According to data from the Central Bank of Nigeria (CBN), the reserve is still far from the peak of $64 billion recorded in August 2008.
It shows that debt sales such as Eurobond offering by Federal Government helped Nigeria to accrue billions of dollars in foreign reserves, Reuters reports.
The government raised $2.5 billion in Eurobonds in February and it is hoping to raise more.
The apex bank held its statutory Monetary Policy Committee (MPC) meeting, today, April 3 and the meeting will be concluded tomorrow April 4, 2018. [myad]
