The Central Bank of Nigeria has stated that the nation’s external reserves hit $34bn from $33.6bn attained on October 25.
The reserves have been appreciating very fast after hitting $32bn on September 18.
The Deputy Governor, Financial System Stability, CBN, Dr. Joseph Nnanna, who disclosed the latest figure in Lagos on Saturday, said the exchange rate stability achieved so far by the apex bank had come to stay.
He expressed confidence that the usual end-of-the-year rush would not push up the naira-dollar exchange rate contrary to some people’s expectations.
The CBN deputy governor said this while fielding questions from journalists at a forum organised by the Chartered Institute of Bankers of Nigeria.
Nnanna was among the chief executive officers of companies who were conferred with the CIBN Fellowship Awards.
Asked if the exchange rate would go up as the end of the year was approaching, Nnanna said, “No, the rate will not go up, take it from me. We have achieved stability and the stability is here to stay.
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