Market News
Nigeria’s Dollar Reserves Dwindle as Central Bank Defends Naira - BLOOMBERG
By Emele Onu
Nigeria‘s naira has stayed largely stable through the market volatility sparked by the Iran war, but that came at a cost to the nation’s foreign-exchange reserves.
Reserves fell for 16 straight days through April 8, the longest declining run since July 2025, according to data compiled by Bloomberg. The central bank’s foreign exchange holdings declined by $1.1 billion in the period to $48.94 billion, the lowest level since Feb. 19, the data show.
