NIGERIA: Nigeria’s foreign reserves declined by $20 million in two days, falling to $55.24 billion on October 29, 2026, despite recording an overall gain of $60 million within the six-day period.
Data obtained from the Central Bank of Nigeria (CBN) showed that the country’s external reserves dropped from $55.26 billion on October 28 to $55.24 billion on October 29.
The consecutive declines represent a $20 million loss within 48 hours.
However, a review of the apex bank’s data showed that Nigeria’s foreign reserves maintained a positive overall movement between October 23 and 29.
Specifically, the reserves increased from $55.18 billion on October 23 to $55.24 billion on October 29, representing a net gain of $60 million.
The latest decline therefore comes against the backdrop of an overall improvement in the country’s external reserves during the period under review.
Meanwhile, the naira closed at N1,346.26 to the dollar on Friday.
