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Sovereign Wealth Funds Briefing - Categorized | Reserve Currencies

Nigeria’s foreign reserves inch lower

Posted on 28 May 2009

From AFP: Nigeria’s foreign currency reserves dropped to 45 billion dollars this week from 48 billion dollars a month earlier due to falling oil prices, the Central Bank of Nigeria (CBN) said Wednesday.

Nigeria’s foreign exchange reserves stood at 67 billion dollars at the height of the oil boom in July 2008 when crude prices peaked above 147 dollars (105 euros) per barrel on concerns over the faltering global economy…….Full Article: Source


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