L
LequteMan
Guest
The Central Bank of Nigeria says the nation’s external reserves have been depleted by $2.92 billion as at the end of June 2013 to stand at $44.96 billion as against $47.88 billion and $35.41 billion recorded in the first quarter of 2013 and second quarter of 2012 respectively.
In its second quarter report published on its website, it attributed the depletion to the sales of foreign exchange to the authorized dealers, payments of joint venture contracts cash calls, as well as public sector payments.
The stock of external reserves, the apex regulatory body said notwithstanding, could finance 9.8 months of current import commitments and 10.8 months of foreign exchange disbursements as against 12.7 months and 6.9 months of import cover as well as 22.8 months and 10.9 months of foreign exchange disbursements in Q1 2013 and Q2 2012,respectively.
Source: Daily Trust
see more at http://www.dailytrust.info/index.php/business/9867-foreign-reserves-down-by-2-92bn-cbn-says
In its second quarter report published on its website, it attributed the depletion to the sales of foreign exchange to the authorized dealers, payments of joint venture contracts cash calls, as well as public sector payments.
The stock of external reserves, the apex regulatory body said notwithstanding, could finance 9.8 months of current import commitments and 10.8 months of foreign exchange disbursements as against 12.7 months and 6.9 months of import cover as well as 22.8 months and 10.9 months of foreign exchange disbursements in Q1 2013 and Q2 2012,respectively.
Source: Daily Trust
see more at http://www.dailytrust.info/index.php/business/9867-foreign-reserves-down-by-2-92bn-cbn-says
