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Sovereign Wealth Funds Briefing - Categorized | Reserve Currencies

Nigeria: Foreign reserves drop to $33.54bln

Posted on 27 July 2011

The nation’s foreign exchange reserves dropped to $33.54 billion by July 22, from $34.57 billion on July 13. The foreign reserves were lower than the level a year ago, when they stood at $37.86 billion.
Analysts are of the opinion that the most recent decline in reserves was partly explained by a surge in demand for the United States (US) dollars on the domestic market……………………………………….Full Article: Source

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