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Nigeria's foreign exchange reserves reach four-year high of $41.05B, despite naira depreciation.
Nigeria's foreign exchange reserves hit a four-year high of $41.05 billion, up 2.62% since July 18.
The Central Bank of Nigeria (CBN) credits this growth to reforms like the Nigeria FX Code, increased capital flows, and higher non-oil exports.
Despite the boost, the naira faced depreciation pressures, with the currency dropping to N1,536.73 per dollar.
Experts predict further reserve growth, which could stabilize the economy and boost investor confidence.
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Las reservas de divisas extranjeras de Nigeria alcanzan el máximo de cuatro años de $ 41.05B, a pesar de la depreciación del naira.