Nigeria’s foreign reserves drop by $20m in two days
Nigeria’s foreign reserves recorded a slight decline for two consecutive days, falling to $55.24 billion on October 29, 2026. Data from the Central Bank of Nigeria, CBN, showed that the country’s external reserves declined on October 28 and 29 to $55.26 billion and $55.24 billion, respectively. This means that Nigeria’s foreign reserves shed $20 million […] Nigeria’s foreign reserves drop by $20m…
Nigeria's foreign reserves experienced a slight decline for two consecutive days, reaching $55.24 billion on October 29, 2026. According to data from the Central Bank of Nigeria, the country's external reserves dropped from $55.26 billion on October 28 to $55.24 billion on October 29, marking a $20 million decrease over the two-day period.
Despite this decline, Nigeria's foreign reserves actually increased by $60 million between October 23 and 29, 2026, according to further analysis by the apex bank. This means that while the reserves decreased by $20 million in two days, they still gained $60 million during the broader period. The naira closed at N1,346.26 against the dollar on Friday, according to the Daily Post.
Written by urgent.news from Daily Post Nigeria's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
