The nation’s external reserves have dropped by $404 million between January 25, and February 3.
Data tracked on the CBN’s website showed that the external reserves fell by $218 million on January 29 and by $186.5 million on February 3.
New National Star earlier reported that the bank gained $1.6 billion in reserves in the space of five weeks (from December 21, 2020, to mid-January).
Crude oil per barrel price has also increased, with the Nigeria Bonny Light selling for $60. However, the naira exchanges for N480 against the dollar at the parallel market.
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