June 29, 2025
Exchanging-Dollars-for-naira (1)

Nigeria is burning through foreign-exchange reserves at a rate not seen in four years, raising concerns that the central bank is depleting its dollar holdings to support the naira after pledging it would allow the currency to float more freely.

Liquid reserves declined 5.6% since March 18, when the naira started its rebound from record-low levels against the dollar, to $31.7 billion as of April 12, according to Bloomberg’s calculations based on the latest available data from the Central Bank of Nigeria. That’s the biggest decline in a similar period since April 2020, according to data compiled by Bloomberg.

The currency of Africa’s largest oil producer has recovered most of its losses since a 43% devaluation in January. That came after the Central Bank of Nigeria introduced measures to improve liquidity, attract capital inflows and allow the market to determine the naira’s exchange rate. As part of the reforms, the CBN pledged to clear a backlog of pent-up dollar demand.

“The CBN does appear to be using its FX reserves to clear the valid backlog, and return the naira to a realistic exchange rate,” said Charles Robertson, the London-based head of macro strategy at FIM Partners. “My assumption is they hope to encourage others – local and foreign investors – to start investing in the local currency, and return private sector liquidity to the foreign exchange market.”

Nigeria still has a sizable cushion of foreign-exchange reserves, buoyed by a rally in oil prices and inflows from multi-lateral loans. Gross reserves of around $32.6 billion cover about six months’ worth of imports, according to the International Monetary Fund.

The central bank said last month it had cleared a backlog of overdue dollar purchase agreements estimated at $7 billion since the beginning of the year. That was built over years as the central bank pegged its currency against the dollar, leading to a scarcity of foreign currency that deterred foreign portfolio investment. However, it’s unclear how much dollar debt the CBN retains on its books.

The publication of the central bank’s financial statements late last year showed it had securities lending agreements with JP Morgan Chase & Co. for $7 billion and another $500 million with Goldman Sachs Group Inc. It is not clear if those obligations have been settled. A spokesperson for the central bank didn’t immediately respond to Bloomberg’s telephonic request for comment.

The FX reserves have fallen despite a surge of inflows into capital markets following 600 basis points of cumulative interest rate hikes in February and March, which increased the allure of Nigerian local debt. Foreign portfolio inflows exceeded $1 billion in February, bringing total receipts so far this year to at least $2.3 billion, according to the central bank.

“The CBN will also be aware that new inflows, from Afreximbank, the World Bank, and a possible eurobond, plus the benefit of higher oil prices and a likely return of remittances via official and semi-official channels (rather than bitcoin) will allow reserves to stabilize or rise again,” Robertson said.

2,207 thoughts on “Nigeria’s dollar reserves plunge in tandem with Naira rebound”

  279. viagra consegna in 24 ore pagamento alla consegna: Viagra – alternativa al viagra senza ricetta in farmacia
    Farmacie on line spedizione gratuita

    Reply

  900. Присоединяйтесь Рє игрокам РЅР° автоматах.: balloon игра – balloon казино

    Reply

  910. Игровые автоматы доступны всем желающим.: balloon игра – balloon казино играть

    Reply

  911. Автоматы Ballon поднимают настроение каждому.: balloon game – balloon game

    Reply

  914. Ballon радует РёРіСЂРѕРєРѕРІ разнообразием функций.: balloon игра – balloon игра на деньги

    Reply

  917. balloon казино официальный сайт balloon казино демо Игровые автоматы делают вечер незабываемым.

    Reply

  918. Играйте РЅР° деньги Рё получайте удовольствиe.: balloon игра – balloon казино

    Reply

  922. Казино — РјРёСЂ азартных приключений.: balloon игра – balloon казино играть

    Reply

  929. Играть РІ казино — всегда интересное приключение.: balloon казино – balloon казино

    Reply

  1809. Uphold is a beginner-friendly platform that enables its users to buy, sell, trade, and hold 250+ digital assets. It also uses a 100% reserve model, which means that it will cover its users’ assets in case of financial loss. Uphold’s mobile cryptocurrency app is compatible with both Android and iOS devices. This all-in-one app allows investors to manage separate accounts, move their funds, and track their earnings. There is a difference between a mobile slots real money games and those available from an app. Slot apps will require you to download an app to your phone.  Mystic Lake has a new way to play your real casino favorites, like slots, video poker, blackjack, keno and bingo. Test your luck spinning famous Vegas slots from Konami™, Everi™, Aruze™ and more. Video poker classics and modern twists like the world-famous Multi-Strike Poker™ are ready for you to hit it big. Or try your hand at the other 100+ casino classics at your fingertips.
    https://honestaharvest.com/play-the-rocket-casino-game-free-no-fuel-needed/
    Graveyard Goods partners with Konami for custom, limited-edition drops inspired by iconic games. Each release features exclusive merchandise, blending nostalgic gaming culture with modern design, perfect for gamers and collectors. Here are more reasons to play my KONAMI Slots app: Stay ahead of the game with Bitcoin Casino venues. Find out how you can start playing slots and blackjack online with the next generation of finance. Heart of Vegas Free Coins: The free slot machines with free spins no download required include all online casino games types like video pokies, classic pokies, 3D, and fruit machines. New free slots 2025 offer the latest demos releases, new casino games and free slots 2025 with free spins. Free slots no download games accessible anytime with an internet connection, no Email address, no registration details needed to gain access. Once logged in, get an instant play by clicking the free spin button to start a game session.

    Reply

  1878. Feel free to visit my web-site – 토토사이트 추천은 토토친구 Unquestionably imagine that that you stated. Your favorite justification seemed to be on the web the simplest factor to be aware of. I say to you, I certainly get irked while other people think about concerns that they plainly do not understand about. You controlled to hit the nail upon the highest and also outlined out the entire thing without having side-effects , other folks can take a signal. Will likely be back to get more. Thanks Hi, I do believe this is an excellent website. I stumbledupon it 😉 I may come back yet again since i have book-marked it. Money and freedom is the best way to change, may you be rich and continue to help others. EyeFortin is an all-natural eye-health supplement that helps to keep your eyes healthy even as you age. It prevents infections and detoxifies your eyes while also being stimulant-free. This makes it a great choice for those who are looking for a natural way to improve their eye health. eyefortinbuynow.us
    https://amaiagency.com/aviator-na-platformie-mobilnej-doswiadczenie-uzytkownika-w-polskich-kasynach-online/
    Welcome to Civil Pathshala!सिविल पाठशाला में, हमारा मिशन इच्छुक उम्मीदवारों को प्रतिस्पर्धी परीक्षाओं में उत्कृष्टता प्राप्त करने के लिए आवश्यक ज्ञान, कौशल और आत्मविश्वास के साथ सशक्त बनाना है। Azərbaycanda mərc oyunları şirkəti Baxış və rəylər Pin Up Casino rəsmi saytı slot maşınları Content рџЋЃPin Up casino qeydiyyat bonusları və depozitsiz pulsuz fırlanmalarla promo kodlar Müştəri xidməti ilə əlaqə saxlamağın ən yaxşı yolu nədir? Pin Up Online Casino-nun Mobil Proqramı varmı? Pin-up Casino etibarlıdırmı? Android və iPhone üçün APK Pin Up uyğulamasının yüklənməsi Texniki …

    Reply

  1906. Find another tiger and start a family. Once you level up, you can also make up to 4 cute cubs! Your family can help you in combat and hunting. There is an opportunity to improve each family member. To do this, it is necessary to hunt and collect food, and then feed the children or your tiger companion. Regretfully, there are fewer and fewer players in this game. You can invite friends from social media through it, but random games in general are not the same. AI players are typically the ones occupying a table, and they’re not very good either. After a few games, seasoned players will begin to recognize a few patterns. In addition to the player problem, there are numerous advertisements to deal with. Junglee offers a pleasant, ad-free poker experience with easy navigation and smooth gameplay on slower connections. It’s beginner-friendly and provides the thrill of live card games anytime, anywhere. However, occasional glitches and connectivity issues disrupt gameplay, and expanding the game’s selection can keep players more engaged in the long run.
    https://www.vanbijnkers.nl/uncategorized/inside-the-success-story-of-aviator-onlines-surge/
    There are so many online games played by card lovers in Pakistan. Among the top trending games, we present you the best online game S9 Game APK which is very popular these days. There are multiple benefits of this game like you can play your favorite cards from your comfort zone and make money. If you log in to the application daily, you can claim regular bonuses and rewards. Daily bonuses are free to collect and make more points. So, log in regularly and make more money.  Download APK on Android with Free Online APK Downloader – APKPure Beyond predictions, the app offers users detailed statistical insights and trends drawn from historical data, enabling a deeper understanding of past results. This added feature helps users analyze patterns to enhance their overall experience. Additionally, its real-time updates provide constant, up-to-date predictions, maintaining the fast-paced and immersive nature of Dragon Tiger games.

    Reply

  1989. Aplicația Lucky Jet poate fi găsită și pe platforme precum App Store. Utilizatorii pot citi recenzii, compara ratingurile clienților, vizualiza capturi de ecran și descărca aplicația Lucky Jet – Strategy of Flight pe iPhone, iPad sau iPod touch. Dacă doriți să descărcați Lucky Jet pentru Android sau iPhone, ai noroc! NorocosJet este un joc online popular care oferă șansa de a câștiga mare. Hətta Lucky Jet-in rəyləri belə deməyə mahiyyət verir ki, hər zaman qalib yönəlmək mümkün deyil. Bütün nüanslara baxmayaraq, peşəkar qumarbazlar hələ də yeni başlayanlar üçün ürəyiaçiq strategiya hazırlayıblar. Bu, kiçik mərclərə və cəld ödənişlərə qədər əksik düşür. Puteți contacta echipa de asistență a Lucky Jet Moldova prin chat live, e-mail sau telefon. Serviciul de suport este disponibil 24 7 pentru a răspunde rapid la orice întrebări sau probleme pe care le întâmpinați.
    https://genhire.in/formula-castigului-in-lucky-jet-o-analiza-detaliata/
    Cash Craze: Slots Game “He was also planning to spend the money on a new home for him and his family.” În această recenzie vă spunem despre 1Win Casino, care oferă utilizatorilor posibilitatea de a juca atât jocuri de cazino, cât și de a paria pe evenimente sportive. Madame Destiny Megaways Vegas Party Casino Slots Game Dacă nu te-ai mai jucat ceva de genul Jet Lucky 2 gratis, acum ai prilejul să înveți. Vei vedea cât de simplu este, de fapt. Bineînțeles, este și foarte distractiv. Etapele de joc sunt următoarele: Testează-ți capacitățile intuiției în 1Win Lycky Jet. Priviți personajul amuzant zburând pe cerul înstelat și reușiți să vă ridicați câștigurile cu multiplicatorul potrivit. Jocul te va încânta cu coloana sonoră plăcută și grafica strălucitoare.

    Reply

  2064. Haben Sie schlechte Erfahrungen mit einem Unternehmen, einem Produkt oder einem Anbieter gemacht? Hatten Sie Probleme mit einer Dienstleistung oder einer ärztlichen Behandlung? Nutzen Sie unser kostenloses Beschwerdeformular und schildern Sie uns Ihr Problem. Wir setzen uns für Ihre Rechte ein! Nein. Aber selbst wenn die Betrüger es nicht veröffentlicht haben, wird nicht empfohlen, das Spiel zu installieren. Derzeit gibt es keine Informationen im Internet, die die Legitimität der App bestätigen. Außerdem haben Benutzer, die Erfahrung mit Plinko Whai haben, negative Rückmeldungen darüber. Wie funktioniert Plinko? Plinko ist ein Glücksspiel, das aus der TV-Sendung “Der Preis ist heiß” bekannt ist. Eine Plinko Scheibe oder ein Plinko Ball wird oben in eine pyramidenförmige Anordnung von Pins geworfen. In jeder Reihe kann der Ball nach links oder rechts fallen, um schließlich am unteren Ende in einem von mehreren Fächern zu landen. Da die Positionen am Ende des Spielfeldes mit unterschiedlichen Wahrscheinlichkeiten verbunden sind, ergeben sich bei den Plinko App Erfahrungen verschiedene Gewinnpotentiale.
    https://www.freelistingusa.com/create-listing-form?currency=1&plan=4
    Es gibt weniger legale Glücksspiel-Angebote als man denkt. Die Zahl der Anbieter von Online-Glücksspielen ist seit dem Glücksspielstaatsvertrag zwar gewachsen, dennoch gibt es immer noch eine große Zahl von unerlaubten Online-Casinos & Co. Achten Sie deshalb immer auf eine deutsche Lizenz. Denn falls Sie an einem solchen Glücksspiel teilnehmen, machen Sie sich in Deutschland strafbar und die deutschen Spielerschutzregeln greifen auch nicht. Diese Prinzipien spiegeln die Ideen hinter dem sogenannten „Galton-Brett“ oder „Bohnenmaschine“ wider, das im 19. Jahrhundert von Sir Francis Galton entworfen wurde, um statistische Verteilungen wie die Normalverteilungskurve zu demonstrieren. Anfragen, welche direkt an dich und dein Unternehmen gestellt werden, sind aktuell kostenfrei. Hier erhältst du alle relevanten Kontaktdaten und kannst diese auch später noch in deinem Konto einsehen.

    Reply

  2122. ¡Bienvenidos, entusiastas de la emoción !
    Casino fuera de EspaГ±a ideal para apuestas deportivas – п»їhttps://casinofueraespanol.xyz/ casinofueraespanol
    ¡Que vivas increíbles jugadas magistrales !

    Reply

  2139. ?Hola, fanaticos del entretenimiento !
    casino fuera de EspaГ±a con tragamonedas exclusivas – п»їhttps://casinosonlinefueradeespanol.xyz/ casino por fuera
    ?Que disfrutes de asombrosas jackpots fascinantes!

    Reply

  2148. Most online gambling websites offer free versions of their games, uptown pokies no deposit codes games that are called after five innings due to weather that have a clear winner will be considered official and bets will be settled. Pragmatic Play is the popular software provider that created the Juicy Fruits slot machine, jackpot casino payout times you will need to fund your Skrill account. Sweet Bonanza is a popular slot from renowned provider Pragmatic Play. It has recently entered into another partnership: the company has agreed to supply games for Hommerson Casino. Under the terms of the agreement, Pragmatic Play will provide slot machines for the recently launched casino brand. Among the promised games, Sweet Bonanza is also present. We will introduce you to this slot. Sweet Bonanza is a popular slot from renowned provider Pragmatic Play. It has recently entered into another partnership: the company has agreed to supply games for Hommerson Casino. Under the terms of the agreement, Pragmatic Play will provide slot machines for the recently launched casino brand. Among the promised games, Sweet Bonanza is also present. We will introduce you to this slot.
    https://virtareta1988.iamarrows.com/http-cinegold-com-pk
    Connect with us Sweet Bonanza is one of the most popular slots ever, and the Christmas version adds something special to the gameplay. Check out all about the slot’s special winter-wonderland features. This slot is a good fit for players who love sweet themes and fruit machines, as well as those feeling ready for some Christmassy cheer. Fans of the original Sweet Bonanza slot will also likely enjoy this special addition. Though the moderate volatility falls short of our ideal, the high RTP and aesthetically pleasing theme still make Sweet Bonanza Xmas worth checking out. Why are online casinos also opting to put Sweet Bonanza Xmas in their portfolio? While not much has changed from the first game, Sweet Bonanza is still as fun as ever. The main differences we find here are mostly with the background, and snow on the symbols to give that winter feel. Overall the graphics are very polished and the gameplay is as easy as it is engaging.

    Reply

Leave a Reply

Your email address will not be published. Required fields are marked *

Related News

CR7 Saudi Image

Ronaldo Extends Al Nassr contract until 2027

June 27, 2025 207
Donald-Trump

Senate to vote on Trump’s war powers today as lawmakers get delayed Iran briefing

June 27, 2025 3