Nigeria's foreign exchange (FX) reserves have reached their highest level since March 28, 2024, signaling a significant financial milestone and coinciding with the longest period of exchange rate stability seen in over a year. According to the Central Bank of Nigeria (CBN), ...
The Nexus amid Government Spending and Foreign Exchange Reserves in NigeriaAdekunle, Ahmed OluwatobiActa Universitatis Danubius: conomica
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(2011), Foreign Exchange Reserves and Exchange Rates in Nigeria. Structural Breaks, Unit Roots and Cointegration tests, Journal of Social and Economic Development. pp 1-6Olayungbo, D. O., & Akinbobola, T. O. (2011). Foreign Exchange Reserves and Exchange Rates in Nigeria. Structural Breaks...
The Central Bank of Nigeria, says Nigeria’s foreign reserves has risen to $45bn as at June, 2019 from the $23bn recorded in 2016. The CBN Governor, Mr. Godwin Emefiele, who disclosed this while reeling out the policy road map for his five years second term in Abuja on Monday, said...
This paper investigates the relationship between exchange rates(nominal and real) and foreign exchange reserves for Nigeria Using quarterly data between the period of 1970:Q1 to 2006:Q4. Quandt-Andrew break point test which determines endogenously the unknown break point for the series where carried ...
Hence, it purports to highlight the demerits of maintaining our external reserves in a single currency (Dollar).Drawing heavily from existing literature on external reserves management and exchange rate, It suggests that the monetary authorities should start a gradual divestment from purely dollar ...
Nigeria's foreign exchange reserves had similarly improved from a low of 24.53 billion U.S. dollars in September 2016 to about 31 billion dollars in August 2017. Nigeria's capital importation grew by 95 percent year-on-year, driven by portfolio and other investments but also notably by foreign...
Nigeria's foreign exchange reserves, he noted, had risen to nearly 34 billion U.S. dollars while the stock market and purchasing managers' indices had also been positive. In addition, the exchange rate of country's local currency naira has stabilized while inflation has declined to 15.91 percen...
In the I&E window, the Naira depreciated by N1.33 kobo as the indicative exchange rate dropped to N412/ $1 on Friday from N410.67 / $1 in the previous week. Foreign Reserves rise Meanwhile, data from the Central Bank of Nigeria (CBN) showed that the nation’s foreign reserves gained ...