Foreign reserves rise to $31.43bn – CBN

Nigeria’s foreign exchange reserves were $31.43 billion on August 27, up 1.12 percent from $31.08 billion a month earlier, according to the CBN on Monday. The forex reserves of Africa’s top crude exporter were down 20.65 percent year-on-year from $39.61 billion a year ago. The decline from $31.63 billion on August 14 reflects consistent dollar sales by the central bank to bureau de change operators to narrow the margin between the naira currency’s official and black market rates.