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Nigeria dollar reserve falls to $24.59 bln by Sept. 28
September 30, 2016 / 1:11 PM / a year ago

Nigeria dollar reserve falls to $24.59 bln by Sept. 28

LAGOS, Sept 30 (Reuters) - Nigeria’s foreign exchange reserves fell to $24.59 billion by Sept. 28, down 3.37 percent from the previous month, latest central bank data showed on Friday, as the bank stepped up its intervention to prop up the ailing naira currency.

The reserves of Africa’s largest economy stood at $25.45 billion last month. The reserves had declined 19 percent from a year ago.

The central bank has been selling the dollar to support the currency, but the naira hit a fresh all-time low of 490 per dollar on the black market on Friday. (Reporting by Oludare Mayowa; Editing by Gareth Jones)

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