Nigeria’s foreign exchange reserves were $31.43 billion on August 27, up 1.12 percent from $31.08 billion a month earlier, data from the central bank showed on Monday.
The forex reserves of Africa’s top crude exporter were down 20.65 percent year-on-year from $39.61 billion a year ago.
The decline from $31.63 billion on August 14 reflects consistent dollar sales by the central bank to bureau de change operators to narrow the margin between the naira currency’s official and black market rates.
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