The Central Bank of Nigeria revealed that Nigeria’s external reserves reached a record high of $34.07 billion on June 26, 2024.
This was disclosed in the CBN’s latest FX data on its official website, marking the highest level since March 2024.
Last week, the reserves reached a three-month high of $33.5 billion and have since risen further, exceeding $34 billion for the first time since March 21, when they were at $34.2 billion.
The reserves have increased by $1.3 billion since June 2024.
Also, CBN’s Governor Olayemi Cardoso revealed that the bank’s reforms have attracted $24 billion in inflows in the first quarter of 2024.
Despite increased FX reserves, the naira fell 0.15 per cent after trading on Thursday, with the dollar quoted at N1,510.10 down from N1,507.83 on Wednesday, according to FMDQ data.
The dollar given by willing buyers and sellers increased by 62.83 per cent to $287.21 million on Thursday, up from $176.39 million on Wednesday.
