Foreign inflows bolster reserves, but naira continues to struggle under economic pressures
Nigeria’s External Reserves Reach 22-Month High Despite Naira Weakness Nigeria’s external reserves have reached a 22-month high of $37.31 billion, signaling significant foreign inflows into the economy. However, despite the growth in Nigeria’s external reserves, the naira has continued to struggle, ranking among the 10 worst-performing currencies globally, according to Bloomberg. The surge in Nigeria’s…