Nigeria’s
foreign reserves fell to a six-month low of $36.7 billion by December 1, down
4.5 percent from the previous month as the central bank stepped up its defence
of the naira currency, figures on the bank’s website showed.
The
reserves of Africa’s biggest economy and top oil producer stood at the same
level as in June this year and were down from $38.45 billion on Nov. 2, the
data showed on Wednesday.
The
naira has
fallen 11.3 percent against the dollar this year, including an 8
percent one-off devaluation by the central bank last week, as global oil prices
plunged.
Reuters
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