Good News: Nigerias Foreign Reserve Rises as Naira Gains After CBN Sells Dollar to Banks, Others [Video]

• Nigeria’s reserve has shown a continuous improvement in value over the past four weeks
• CBN data showed that the reserve rose to $195.01 million, suggesting greater market liquidity
• Analysts said the improvement would improve macroeconomic stability and currency management

Legit.ng journalist Zainab Iwayemi has over three years of experience covering the Economy, Technology, and Capital Market.

Nigeria’s foreign exchange (forex) reserves increased by $195.01 million to $32.64 billion at the weekend, indicating that the market is expected to have more liquidity.

The recent accretion marked the fourth consecutive increase in foreign exchange reserves after a month of declines.

The reserves increased by $89.76 million the week before. Prior to this, it had increased by $10.76 million and $132.68 million.

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However, in the …