Nigeria’s FX Reserves Reach Three-Week High, Gain $262 Million - Politics

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Nigeria’s FX Reserves Reach Three-Week High, Gain $262 Million - Politics - Nairaland

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Nigeria’s FX Reserves Rise By $621.2 Million In 10 Days / Nigeria’s FX Reserves Defy Forecasts, Rise To $35.9 Billion / Nigeria’s FX Reserves Drop To $32bn — Lowest Level In Six Years (2) (3) (4)

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Nigeria’s FX Reserves Reach Three-Week High, Gain $262 Million by muhammaduyusufu: 8:34pm On May 10

The Central Bank of Nigeria’s latest figures showed an upward movement of the country’s foreign reserves.

Specifically, Nigeria’s reserves rose to $32.369 billion as of May 6, 2024, an improvement from a one-month dip of $32.107 billion.

According to CBN’s data, the reserves stood at $34.450 billion on March 18 but declined to $32.107 billion on April 19.

However, with the recent uptick in the Nigerian government between April 19, 2024, and May 6 2024, the country’s FX reserves experienced a rise from $32.107 billion to $32.369 billion.

Meanwhile, the country’s foreign exchange crisis has persisted. Since this week’s commencement, the Naira has had more depreciation than appreciation. On Wednesday, the Naira further depreciated to N1,421 per dollar at the FX market.

https://dailypost.ng/2024/05/09/nigerias-foreign-reserves-surge-by-262m-after-weeks-of-decline/

23 Likes

Re: Nigeria’s FX Reserves Reach Three-Week High, Gain $262 Million by YorubaNiBaba(m): 8:55pm On May 10

Great
May God continue to protect PBAT

23 Likes 1 Share

Re: Nigeria’s FX Reserves Reach Three-Week High, Gain $262 Million by BigBlackPreek(m): 8:58pm On May 10

Ebimpawa ooo

7 Likes 2 Shares

Re: Nigeria’s FX Reserves Reach Three-Week High, Gain $262 Million by semc: 9:12pm On May 10

Keep saving when your kids are starving. Who is the savings for if one may ask

3 Likes 2 Shares

Re: Nigeria’s FX Reserves Reach Three-Week High, Gain $262 Million by CodeTemplar: 9:26pm On May 10

The naira is 1400 to a USD.

9 Likes

Re: Nigeria’s FX Reserves Reach Three-Week High, Gain $262 Million by helinues: 9:52pm On May 10

Good

Re: Nigeria’s FX Reserves Reach Three-Week High, Gain $262 Million by saintjimos(m): 10:46pm On May 10

And what’s dollar rate

5 Likes 2 Shares

Re: Nigeria’s FX Reserves Reach Three-Week High, Gain $262 Million by EmeeNaka: 10:51pm On May 10

They stopped giving dollar to BDC, so now they're saving again. Soon, they will begin to sell again and deplete the reserve again.

18 Likes 2 Shares

Re: Nigeria’s FX Reserves Reach Three-Week High, Gain $262 Million by Hoelujohn: 10:54pm On May 10

CodeTemplar:
The naira is 1400 to a USD.

Una be real werey. Wetin una want sef?

12 Likes 1 Share

Re: Nigeria’s FX Reserves Reach Three-Week High, Gain $262 Million by AfonjaConehead: 6:01am On May 11

helinues:
Good

TOH 😁

3 Likes

Re: Nigeria’s FX Reserves Reach Three-Week High, Gain $262 Million by 89green: 6:46am On May 11

Re: Nigeria’s FX Reserves Reach Three-Week High, Gain $262 Million by Yankee101: 6:47am On May 11

Cos they can’t outspend themselves out of a devalued currency

Re: Nigeria’s FX Reserves Reach Three-Week High, Gain $262 Million by donbrowser(m): 6:47am On May 11

Re: Nigeria’s FX Reserves Reach Three-Week High, Gain $262 Million by Serendipity2023: 6:48am On May 11

this should continue please.

Re: Nigeria’s FX Reserves Reach Three-Week High, Gain $262 Million by graceypetee: 6:52am On May 11

Reservation for who

Hunger in the land of Nigeria

3 Likes 2 Shares

Re: Nigeria’s FX Reserves Reach Three-Week High, Gain $262 Million by DatNiggaDaz: 6:54am On May 11

Prolific failures

8 Likes 2 Shares

Re: Nigeria’s FX Reserves Reach Three-Week High, Gain $262 Million by ivandragon: 6:55am On May 11

This would have been an accomplishment if it translated to improved purchasing power of the common man.

Re: Nigeria’s FX Reserves Reach Three-Week High, Gain $262 Million by Kingray10: 6:57am On May 11

Please stop this nonsense, this is not worth celebrating.
Besides he should take dollars to where he meet it.

1 Like 1 Share

Re: Nigeria’s FX Reserves Reach Three-Week High, Gain $262 Million by Scatterscatter(m): 7:09am On May 11

The sọ called obidients are a just a bunch of confused, bitter and pessimistic people.

When FG was using the reserve to defend the Naira, they were the first to complain.
Now that FG suspended it and the foreign reserve is increasing, they are still the first to complain.

Wetin una want sef

Principal is lying upandan, followers are wailing upandan, who do una like this!

7 Likes

Re: Nigeria’s FX Reserves Reach Three-Week High, Gain $262 Million by mankan2k7(m): 7:12am On May 11

What if Nigeria is the hell fire the bible described.

What if our successive leaders are the devils and his agent.

What if those of us in Nigeria are suffering from our offences we committed when we were living in America, Australia, Canada during our previous lifes and when we now died, God sentenced us to hell fire called Nigeria.

What if the Europeans are living in heaven now.

All these thoughts in my head.

5 Likes 2 Shares

Re: Nigeria’s FX Reserves Reach Three-Week High, Gain $262 Million by starz100: 7:31am On May 11

Not interested in this nonsense, when gross hunger is in the land.How does that translate into reducing the price of garri or increasing my purchasing power.

2 Likes 1 Share

Re: Nigeria’s FX Reserves Reach Three-Week High, Gain $262 Million by DirectTokunbo: 7:40am On May 11

Let's assume it's even 1 trillion dollars, how does that affect the common man living in Nigeria? What's important is the standard of living

2 Likes 1 Share

Re: Nigeria’s FX Reserves Reach Three-Week High, Gain $262 Million by zionstaar75: 7:41am On May 11

DatNiggaDaz:

Prolific failures

wailing wailer

1 Like

Re: Nigeria’s FX Reserves Reach Three-Week High, Gain $262 Million by udomonday: 7:46am On May 11

You take medicine for headache and you start having tooth ache,then you take medicine for toothache and your headache comes back.

4 Likes

Re: Nigeria’s FX Reserves Reach Three-Week High, Gain $262 Million by omojoibo: 7:50am On May 11

Nigeria has more dollar reserves than original makers
yet, it doesn't manifest on our day to day living

Re: Nigeria’s FX Reserves Reach Three-Week High, Gain $262 Million by Godswillu(m): 7:55am On May 11

Good news
But the story is not adding up

Re: Nigeria’s FX Reserves Reach Three-Week High, Gain $262 Million by DatNiggaDaz: 7:58am On May 11

zionstaar75:
wailing wailer

3 Likes

Re: Nigeria’s FX Reserves Reach Three-Week High, Gain $262 Million by CorrectionFLuid: 8:09am On May 11

Naira starts gaining against dollar, FX reserves start depleting.

Naira starts losing against dollar, FX reserves start gaining.

And agbado munchers dey claim say balablu no dey use reserve defend naira.
Oh Cardi b is a miracle worker, and bulaba is a master strategist they say.

Wuru wuru people Dem.

Blu Blu go soon thief this small extra gain wey just enter.

1 Like 1 Share

Re: Nigeria’s FX Reserves Reach Three-Week High, Gain $262 Million by Kukutente23: 8:25am On May 11

After they stopped using it to defend naira.
Cluelessness at its peak

This folks just opposed Jonathan and PDP for the sake of opposing not that they had anything to offer

Look at state police and fiscal federalism issues for example. Tinubu and his "progressives" have been promoting this ideas in our ears since 1999. They get into govt now and discussions about it cools off!!

Re: Nigeria’s FX Reserves Reach Three-Week High, Gain $262 Million by Kukutente23: 8:30am On May 11

Scatterscatter:
The sọ called obidients are a just a bunch of confused, bitter and pessimistic people.

When FG was using the reserve to defend the Naira, they were the first to complain.
Now that FG suspended it and the foreign reserve is increasing, they are still the first to complain.

Wetin una want sef
Principal is lying upandan, followers are wailing upandan, who do una like this!

Oh so you now agree that FG was using reserves to defend naira. So why all the lies and propaganda when Bloomberg broke the story if using reserves to defend naira then? Some of your fellow APC folks even went to the length of calling the reporter an obidient.
So who is lying upandan now?

1 Like

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