Naira depreciation may persists as external reserves fall by $955 m in 10 days

The depreciation of the naira in the parallel market and the Investors and Exporters (I&E) window last week is expected to persist this week, even as the nation’s external reserves maintained its downward trend falling by $955 million in the first ten days of October. Last week the naira depreciated by ₦1 in the parallel […]

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IMF urges Nigeria to judiciously use external reserves

The International Monetary Fund yesterday called for judicious use of Nigeria’s external reserves in defending the naira against the outflow of foreign portfolio investment triggered by rising interest rate in the United States and other advanced countries. IMF’s Head, Emerging Economies Regional Studies Division, European Department, Anna Ilyina made this call in Bali, Indonesia, while […]

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