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Sovereign Wealth Funds Briefing - Categorized | Reserve Currencies

Nigerian foreign reserves tumble to $33.9 bln

Posted on 27 October 2010

From Bloomberg: Nigeria’s foreign-exchange reserves fell 7.6 percent to $33.9 billion in the month to Oct. 21, according to data on the Central Bank of Nigeria website, as the bank sold dollars to prop up the value of the naira.
Reserves fell from $36.7 billion the month earlier, the bank said, and are down from a high of $58.3 billion in March 2008……………………………………….Full Article: Source


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