Nigeria's foreign exchange reserves fall by $90 million
By the AFREEQUE newsroom, based on Tribune Online
Nigeria's foreign exchange reserves fell by $90 million in five days to $55.13 billion on 5 November, from $55.22 billion on 30 October, according to data from the Central Bank of Nigeria. The naira traded at 1,346.80 nairas to the dollar on 6 November, after appreciating by 6.26% over a year, Tribune Online reports.
Nigeria's foreign exchange reserves fell by $90 million in five days, from $55.22 billion on 30 October to $55.13 billion on 5 November 2026. Data from the Central Bank of Nigeria (CBN) show a decline of 0.16% over the period.
The fall reverses the increase recorded in October, when Nigeria's external reserves rose by $295.35 million. Their movement comes amid fluctuations in the foreign exchange market, where the naira traded at 1,346.80 nairas to the dollar on 6 November.
Despite the recent decline in reserves, the Nigerian currency has appreciated by 6.26% against the dollar over the past 12 months. This increase in the naira was reported on 8 November as part of a review of its one-year performance against the dollar.
