Tag: external reserves
At $39.87 billion, traders say Nigeria’s external reserves have crossed the psychological level of $40 billion dollars for the first time this year. Forex Trader at United Bank for Africa (UBA), Nkechi Ezugha joins CNBC Africa for more.
Traders say continued FX intervention by the Central Bank of Nigeria (CBN) is taking a toll on the country’s external reserves which is now at $41.77bn from $45bn as at the end of July this year. To discuss this Bankole Odusanya, Head of Fixed Income Trading at UBA joins CNBC Africa for more.