Nigeria’s forex reserves up 0.27 pct m/m at $47.62 billion as of May 30 -cenbank data

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U.S. Dollar and China Yuan notes are seen in this picture illustration June 2, 2017. REUTERS/Thomas White/Illustration

LAGOS, June 1 (Naija247news) – Nigeria’s foreign exchange reserves rose 0.27 percent from a month ago to $47.62 billion as of May 30, central bank data showed on Friday.

Nigeria’s forex buffer stood at $30.36 billion, up 57 percent from a year ago, but is still far off a peak of $64 billion hit in August 2008.

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Godwin Okafor is a Financial Journalist, Internet Social Entrepreneur and Founder of Naija247news Media Limited. He has over 16 years experience in financial journalism. His experience cuts across traditional and digital media. He started his journalism career at Business Day, Nigeria and founded Naija247news Media in 2010. Godwin holds a Bachelors degree in Industrial Relations and Personnel Management from the Lagos State University, Ojo, Lagos. He is an alumni of Lagos Business School and a Fellow of the University of Pennsylvania (Wharton Seminar for Business Journalists). Over the years, he has won a number of journalism awards. Godwin is the chairman of Emmerich Resources Limited, the publisher of Naija247news.

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