Nigeria’s foreign exchange reserves rose 8.39 percent to $27.88 billion by Jan. 26 from a month ago, climbing to their highest level in 10 months, central bank data showed on Tuesday.
Nigeria’s dollar reserves have been rising this year to gain 6.9 percent so far. The central bank did not provide any reason for the recent rise, which may be attributed to the recent rise in global oil prices.
However, official reserves are down 1.27 percent from the same period a year ago, when they stood at $28.24 billion, the data showed.
