The nation’s external reserves grew by 1.54 per cent in five days moving from $33.662 billion on August 27 to $34.180 billion on September 2. In this period (five days), the reserves added $518.335 million to their gross total. On August 30, the reserves totalled $33.933 billion, while on August 31, they were $34.018 billion.
On September 1, the reserves moved again to a total of $34.100 billion. This is the first time the reserves have entered the threshold of $34 billion in two months. The last time the reserves totalled over $34 billion was on June 10 when they stood at $34.007 billion. The reserves started rising on August 25 and have maintained the momentum for more than a week.
On August 31, a barrel of Bonny Light cost $73.180.