Home News External reserves rise by N4.6m 11/11/87

External reserves rise by N4.6m 11/11/87

by Business News Report

Nigeria’s external reserve position rose from its N4,14052 billion at the close of business in October to N4.63429 billion on November 30.
This gives a marginal increase of N1.19 per cent over that of October. In September the external reserve was put at N4.142164 billion by the Central Bank.
Recent statistics released in Lagos showed that the gold component of Nigeria external reserve remained at its September value at N19,009,430.
According to the reserve remain at its September, October vale at N3,830 in November while the Special Drawing Rights (SDR) fell from its September/October value of N1,390,827 to N616,774.
This gives a grand total of Nigeria external reserve as at close of business on November 30, at N.634295 billion.

A further breakdown of the assets of the federation showed that federal government securities rose from its N14.251 billion in September to N14.699 billion in November giving a marginal increase of N0.448 billion over the September record figure.
Other securities outstanding fell from their N404,533,972 in October to N393,850,637 in November.
Rediscounts and advances rose from N3.358 billion in October to N3.881 billion in November.

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