Falling reserves cast doubt over CBN's naira defence

There are growing doubts over Central Bank of Nigeria's (CBN) ability to defend the naira following the steady decline in the country's foreign exchange reserves. CBN data shows that the reserves stood at $25.8 billion on August 16, the lowest since 2005 and down from almost $50 billion in 2013. They now equate to less []The post Falling reserves cast doubt over CBN's naira defence appeared first on New Telegraph Nigerian Newspaper.
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