Foreign Reserves
File: Money

Nigeria’s foreign exchange reserves have continued its downward slide with figures revealing that it stood at $42.34bn as at October 25, 2018.

According to the Central Bank of Nigeria (CBN), the latest figure is against the $47.28bn recorded on July 25, 2018.

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This means that the reserves fell by $4.94bn within the three-month time.

A further breakdown of the data from the apex bank showed that the reserves slumped from $47.28bn on July 25 to $46.09bn on August 24.

Furthermore, it fell to $44.53bb on September 25, and at $42.34bn on October 25.

Earlier this month, the International Monetary Fund (IMF) had warned the country about its foreign reserves as they said global oil prices could slump at any time.