The country’s external reserves have hit an 11-year low of $24.21bn, according to the latest data from the Central Bank of Nigeria.
The development means a limited amount of dollars will be available at the official interbank spot market, fuelling concerns over another round of depreciation of the naira.
The country’s external reserves had depleted to a then record-low of $24.8bn about two weeks ago.
The foreign exchange reserves fell by $600m in two weeks before shedding $1bn in four weeks, the CBN statistics showed.





























