Nigeria’s external reserves now $36.57 billion

Looking for job? your search ends here! Visit https://recruitmentportalngr.com/  to apply now OR Send us a WhatsApp Message here!




cbn loan
cbn

Nigeria’s external reserves now $36.57 billion – Nigeria’s external reserves now stand at $36.57 billion, having increased sharply from $33.42 billion as of April 29, 2020.

This development has given the Central Bank of Nigeria the fire power to defend the Naira exchange rate as promised by Central Bank Governor Mr. Godwin Emefiele.

The rise in the nation’s reserve can be attributed to rising oil prices and facility granted to the country by International Monetary Fund to fight COVID-19.

The reserve position will further improve when other expected facilities comes in. The recent jump in crude oil prices to about $40 have helped Nigeria’s foreign reserve to rise at a steady pace.

According to the latest data obtained from the Central Bank of Nigeria (CBN) website, Nigeria’s foreign exchange reserves now stand at $36.57 billion, having increased from $33.42 billion as of April 29, 2020.

This shows a gain of $3.15 billion dollars. This feat recorded above (rising FX reserves) has given the CBN Governor, Godwin Emefiele, more ammunition to defend the naira.

Weeks ago, the Naira had traded as high as N475 to $1. But, it sold at N446 to $ during the week. It will be recalled that the CBN Governor had warned currency speculators and hoarders to stop manipulating Nigeria’s exchange rates.

He also said that Nigerians should stop patronising?parallel market operators. According to him, the rates they are buying the dollar from that segment of the market are unrealistic.

The CBN recently re-started the weekly dollar sales of $100 million for small businesses and individuals who are in genuine need of foreign exchange.

The forward market 12-month naira forwards improved to N454.50 per dollar on Wednesday, from a high of N522.56 on April 20.

Also, the currency traded at N388 to the dollar in the spot market. The local currency has also appreciated from N460 to a dollar to N445 to a dollar in the parallel market in less than 2 weeks, not long after the Central Bank of Nigeria started selling dollars to small and medium enterprises and foreign students.

The planned resumption of dollar sales to Bureau De Change (BDCs) is expected to further help ease the pressure in the market.

Meanwhile, the Brent traded over $40 per barrel, and the Nigerian Bonny light crude also  traded almost $38 per barrel, both selling at the highest price in almost 3 months.

The oil prices are very important for Nigeria, as about 90% of its foreign exchange earnings is from crude oil sales. The foreign exchange market had been under intense pressure due to the low oil prices and the economic crisis caused by the coronavirus outbreak globally.

Nigeria’s external reserve had been badly hit, as it lost over $11 billion within a space of 10 months, crashing from its peak of $45.17 in June 11, 2019 to $33.42 in April 29, 2020.

The oil price increase has caused a rebound in the external reserve to over $36 billion as of June 1, and reduced the pressure on the Naira with improved liquidity of the foreign exchange market.




About Sam Gabriel 659 Articles
Samson Gabriel a graduate of mass communication from Auchi Polytechnic, he is a passionate writer with experience in radio scrip writing. He brings his experience from the broadcast media into play here as he continues to enjoy his passion as a journalist. He can be contacted via whats-app on: +234701105670

6 Comments

  1. GOOD DAY SIR/MA

    HAVE YOU HELD ABOUT LAVITA RICCA INVESTMENT…?

    LAVITA RICCA INVESTMENT is a matrix system which give you DOUBLE of your CAPITAL back in ( 45 Minutes ) after Registrations

    LAVITA PACKAGES

    N20,000——N40,000
    N40,000——N80,000
    N50,000——N100,000
    N100,000—–N200,000
    N150,000—–N350,000
    N300,000—–N600,000
    N200,000—–N400,000
    N400,000—–N800,000
    N500,000—–N1,000,000

    NOTE: we credit your account after 45mins of Your Registeration
    INTRODUCTION
    Lavita Ricca Investment is a company duely registered under the Coporate Affairs Commission of Nigeria and certified fraud free to do business in Nigeria by the Economic Financial Crimes Commission (EFCC). This is a Nigerian network marketing company founded by Okafor Alex Monye with it’s Head Quarter’s. The company takes pride in the fact that it stands out amongst other network marketing companies. It has the best compensation plan, affordable and effective services, systems that keeps her customers coming back for more. When you join this company, you get more than their outstanding services.

    09036369810

    ITS SIMPLE HERE!!!!!!!
    We trade with hard currency here like bit coin we make 3tripple of your donation and send you you two part and we benefit one part Example if you invest with 100k within 25mins we make profit of 300k then send 200k to you then profit 100k This is not mmm where they merge people to donate for each other
    You pay directly to us and we credit you directly

    Contact Madam Elizabeth Tina
    09036369810

    NOTE:- YOU GET CREDITED BACK IN LESS THAN 45 MINUTES.

    CHAT US-UP IF INTEREST FILL YOUR FORM AND START EARNING

    NOTE: You can finish reading this and decide not to take the necessary actions, but the next time you want to complain about not having money, just know that you are on your own problem.

  2. CLEAN UK FIRST GRADE CLOTHES, SHOES AND BAGS. Call (07043069364) :::::- Bales of children clothed – N30,500 ,
    [*] Bale of Uk used ladies bra – N21,000 
    [*] Bale Men shirt – N35,000 
    [*] Bale ladies mixed tops – N35,000
    [*] Bale of original shorts – N35,000
    [*] Bale of light Sports wear – N40,000
    [*] Bale Mens polo/t shirt mix – N40,000
    [*] Bale of Ladies mix dresses – N40,000
    [*] Bale of Mens shoes – (186 pairs) – N145,300 
    [*] Children shoes (206 pairs) – N110,000 
    [*] NOTICE : 
    Call (07043069364)
    [ ] bale of mixed underwear pants
    [*] Bale Mixed socks/stockings
    [*] bale of leggings
    [*] bale of singlets/camisoile are also available.
    [*] All items are Tokunbo A grade goods.
    [ ] Prices reflected are fixed price. 
    [*] Items not priced are subject to negotiation
    [*] There’s also a 10%discount for customers getting up to 3bales.

  3. GOOD DAY SIR/MA

    HAVE YOU HELD ABOUT RICH CONNECT TRUST INVESTMENT…?

    RICH CONNECT TRUST INVESTMENT is a matrix system which give you DOUBLE of your CAPITAL back in ( 45 Minutes ) after Registrations

    RICH CONNECT PACKAGES
    N20,000——N40,000
    N40,000——N80,000
    N50,000——N100,000
    N100,000—–N200,000
    N150,000—–N350,000
    N300,000—–N600,000
    N200,000—–N400,000
    N400,000—–N800,000
    N500,000—–N1,000,000

    NOTE: we credit your account after 45mins of Your Registeration
    INTRODUCTION
    RICH CONNECT TRUST Investment is a company duely registered under the Coporate Affairs Commission of Nigeria and certified fraud free to do business in Nigeria by the Economic Financial Crimes Commission (EFCC). This is a Nigerian network marketing company founded by Okafor Alex Monye with it’s Head Quarter’s. The company takes pride in the fact that it stands out amongst other network marketing companies. It has the best compensation plan, affordable and effective services, systems that keeps her customers coming back for more. When you join this company, you get more than their outstanding services.

    07046246360

    ITS SIMPLE HERE!!!!!!!
    We trade with hard currency here like bit coin we make 3tripple of your donation and send you you two part and we benefit one part Example if you invest with 100k within 25mins we make profit of 300k then send 200k to you then profit 100k This is not mmm where they merge people to donate for each other
    You pay directly to us and we credit you directly

    Contact Mrs. GOODLUCK TIMOTHY
    07046246360

    NOTE:- YOU GET CREDITED BACK IN LESS THAN 45 MINUTES.

    CHAT US-UP IF INTEREST FILL YOUR FORM AND START EARNING

    NOTE: You can finish reading this and decide not to take the necessary actions, but the next time you want to complain about not having money, just know that you are on your own problem..

  4. AUCTION AUCTION AUCTION
    (07026536478) NIGERIA CUSTOM’s YEARLY AUCTION’s OF IMPOUNDED VEHICLES ARE NOW
    FOR SALES,
    APPROVED BY THE FEDERAL
    GOVERNMENT AT A CHEAPER AND
    AFFORDABLE PRICE,IF YOUR CHOICE OF CAR IS NOT LISTED BELOW, INTERESTED BUYERS
    SHOULD CONTACT ME ON
    (07026536478) FOR PURCHASE AND INQUIRY.!!!PLEASE NOTE!!!

    THE NIGERIA CUSTOM ”REPLACEMENT AND RECRUITMENT” FORM IS OUT FOR REGISTRATION!!!
    BAGS OF RICE =N10,000
    KEG OF OIL=N7,500

    CAR FEATURES AND PRICES BELOW
    GOLF 1, 2, 3,4 ,5.=N150,000 to=N 500,000

    Toyota Camry Big Daddy=N650,000.
    Toyota Camry Tiny-Light=N450,000.
    Toyota Avensis=N550,000.
    Toyota Hilux=N1M
    Toyota Avensis=N650,000.
    Toyota Camry Muscle=N 600,000. & Spider=N600,000.
    Toyota Avalon=N550,000
    Toyota Rav4 SUV=N800,000.
    Toyota Sienna=N850,000.
    Toyota 4Runner=N850,000.
    Toyota Tundra=N1.5M
    Toyota picnic=N450,000.
    Toyota Highlander=N1M.
    Toyota Corolla=N550,000.
    Toyota Prado=N2M
    Toyota LandCruisser=N2.8M.
    Toyota Yaris=N500.000.
    Toyota Matrix=N450,000.
    Toyota Haice Bus=N950,000

    Acura MDX =N900,000.
    Acura ZDX=N970,000
    Acura TL=N850,000.

    Honda Pilot=N800,000.
    Honda Baby Boy=N650,000.
    Honda End of Discusson(EOD)=N550,000.
    Honda Odyssey=N800,000.
    Honda Accord=N550,000.
    Honda CRV=N600,000.
    Honda Civic=N500,000.

    Infinity Fx35=N1.7m.
    Infinity Fx45=N1.2m.
    Infinity Qx4=600,000.

    Nissan Murano=N700,000.
    Nissan Pathinder=N500,000.
    Nissan Altima=N500,000.
    Nissan Maxima=N450,000.
    Nissan Xterra=N600,000.
    Nissan Quest=450,000.
    Nissan Amanda=N550,000

    Lexus Rx330=N750,000.
    Lexus Gx460=N1m.
    Lesus Rx300= N650,000
    Lexus Rx320=N680,000
    Lexus Lx650=N500,000.
    LexusRx350=N1.2M
    LexusGx470=N850,000.

    Ford Escape=N700,000.
    Ford Explorer=N8500,000.
    Land Rover Discovery=N1.9m.
    Land Rover Freelander=N1.3.

    TRUCKS LIKE , VOLVO, MAN AND MERCEDES ARE ALSO AVAILABLE.!!!

    , All
    VEHICLES ARE IN GOOD
    CONDITION, INSTALLMENTAL PAYMENT IS
    ALLOWED

    WE OFFER DELIVERY TO ALL
    36 STATES IN NIGERIA. CONTACT ME ON (07026536478) TO PLACE AN ORDER NOW.

  5. LAVITA RICCA INTERNATIONAL INVESTMENT*
    ♦️♦️♦️♦️♦️♦️♦️
    ♦️♦️♦️♦️♦️♦️♦️
    *NO MORE EXCUSES*

    1. I don’t have money
    2. I can’t talk to people
    3. I don’t do stuff like this
    4. I’m too Busy

    Your excuses may be legit but they won’t improve your Life.

    • *Lavita Ricca Investment is Fully Registered with with FGN. with RC NO 1582489( For those Who Think Lavita Ricca is Not Registered)* *Contact Administrator Management Mrs. ELIZABETH TINA On *(09036369810)

    *Lavita Ricca Investment is a platform network that deal with investing of money just within 45 minutes you will get back your money double*

    ?phone=+2349036369810

    *Lavita Ricca PACKAGE’S*

    *N20,000====N40,000*
    *N40,000====N80,000*
    *N50,000====N100,000*
    *N100,000====N200,000*
    *N200,000 ====N400,000*
    *N400,000====N800,000*
    *======== = = ========*

    *I know you are skeptical about this because of the negative experience a lot of issues as regards scamming in the MMM. I assure you 101% that you won’t lose your money this is because I know the risk of this profit oriented business and I know how to avoid them using my trading skills and signals to make only wins and no losses.*

    *Are u a worker?*

     *Are u a student looking for your school fees? Are u a woman looking for money to pay your children school fees?*

     *Are u jobless and u need where u can make source of income?*

     *Lavita Ricca Investment is here for you! With a little amount u can earn and make more more source of income without any problems*

     *Lavita Ricca Investment is a platform network that deal with investing of money just within 45mins you will get back your money double*
    *Thank you for your time you can click on the link below to get started, please only serious minded people are expected to message the administrator.🙏

  6. GOOD DAY SIR/MA

    HAVE YOU HELD ABOUT RICH CONNECT TRUST INVESTMENT…?

    RICH CONNECT TRUST INVESTMENT is a matrix system which give you DOUBLE of your CAPITAL back in ( 45 Minutes ) after Registrations

    RICH CONNECT PACKAGES
    N20,000——N40,000
    N40,000——N80,000
    N50,000——N100,000
    N100,000—–N200,000
    N150,000—–N350,000
    N300,000—–N600,000
    N200,000—–N400,000
    N400,000—–N800,000
    N500,000—–N1,000,000

    NOTE: we credit your account after 45mins of Your Registeration
    INTRODUCTION
    RICH CONNECT TRUST Investment is a company duely registered under the Coporate Affairs Commission of Nigeria and certified fraud free to do business in Nigeria by the Economic Financial Crimes Commission (EFCC). This is a Nigerian network marketing company founded by Okafor Alex Monye with it’s Head Quarter’s. The company takes pride in the fact that it stands out amongst other network marketing companies. It has the best compensation plan, affordable and effective services, systems that keeps her customers coming back for more. When you join this company, you get more than their outstanding services.

    07046246360

    ITS SIMPLE HERE!!!!!!!
    We trade with hard currency here like bit coin we make 3tripple of your donation and send you you two part and we benefit one part Example if you invest with 100k within 25mins we make profit of 300k then send 200k to you then profit 100k This is not mmm where they merge people to donate for each other
    You pay directly to us and we credit you directly

    Contact Mrs. GOODLUCK TIMOTHY
    07046246360

    NOTE:- YOU GET CREDITED BACK IN LESS THAN 45 MINUTES.

    CHAT US-UP IF INTEREST FILL YOUR FORM AND START EARNING

    NOTE: You can finish reading this and decide not to take the necessary actions, but the next time you want to complain about not having money, just know that you are on your own problem.

1 Trackback / Pingback

  1. .40 Ammo Price

Leave a Reply

Your email address will not be published.


*