Nigeria’s External Reserves Drops By $100 Million In Three Days

Nigeria’s External Reserves fell by $100 Million in three days, from June 26 to June 28, according to data sourced from the Central Bank of Nigeria (CBN).

The reserves dropped  to $33.4 Billion on June 28 against the $33.5 Billion balance as of June 25, 2021.

The external reserve fell to a fourteen-month low as of Monday.

The figures have been on a reducing balance since last May 28.

They appreciated briefly between May 26 and 28 after which they pulled back.

The falling reserves, experts warned, could leave the country’s battled economic outlook worse off as the confidence of foreign investors is partly influenced by the size of the reserve.

YOU CAN ALSO READ:Nigeria’s External Reserves Drops To $36.3 BN

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