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Sovereign Wealth Funds Briefing - Categorized | Reserve Currencies

Nigeria’s foreign reserves rise to highest level

Posted on 14 June 2011

Nigeria’s foreign reserves have risen to its highest level in about a month, closing on Friday at $34.194 billion. The last time the figure trended above the $34 billion mark was on May 12, when it closed at $34.261 billion. Since then, the reserves have been fluctuating, hitting its lowest level during the period at $32.040 billion on June 1.

The naira has been firming up in the last one week, improving from N153.59 at the official window to close at N152.85. At the interbank window, the currency slid to N157.50 before moderating to N155.10 to the dollar……………………………………….Full Article: Source

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