After months of steady declines, the nation’s external reserves pool recorded some stability within the first half of April, closing at $37.913 billion on April 15, 2014, and then $37.911 billion the follow day, according to the latest data on the Central Bank of Nigeria (CBN) website on Monday.
Between March 31, when the reserve figure closed at $37.85 billion and April 15’s $37.913 billion, there was a growth of $63.185 million or 0.16 per cent.
In the comparative period of March, the nation’s reserves dropped from $40.116 billion at the end of February to $38.647 billion by first half of March, representing a decline of about $1.469 billion or 3.66 per cent.
The stability and gradual increase started on March 28, although the recovery has not noticeably helped the year-to-date figure so far. Between end of December last year and mid-April, the reserves level has dropped by $5.697 billion or 13.06 per cent.
