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Nigeria's forex reserves reach more than 32-month high

Currency reserves up an annual 30 per cent, hitting $42.6 billion

Reuters, Wednesday 31 Oct 2012

Nigeria's foreign exchange reserves climbed 30 per cent year-on-year to hit a more than thirty-two month high of $42.56 billion by 29 October, latest figures from the central bank showed on Wednesday.

Forex reserves in Africa's top oil producer stood at $32.72 billion last year. Reserves rose 3.4 per cent from 28 September to 29 October and haven't been this high since 11 February, 2010 when they stood at $42.74 billion.

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