The Central Bank of Nigeria says the country’s external reserves now stand at 45 billion dollars as of June 2019. Emefiele said the bank put all necessary measure to ensure the steady growth of the country’s external reserves after the recession. “I am delighted to note that our external reserves have risen from 23 billion dollars in October 2016 to over 45 billion dollars by June. “And, our exchange rate has appreciated from over N525/$1 in February 2017 at the Bureau De Change window to N360/$1. “With the improved inflow of foreign exchange, the exchange rate has remained stable around N360/$1 for the past 27 months,” he said.

Source: Punch June 24, 2019 14:03 UTC