World Economy

Nigeria Foreign Reserves Fall

Nigeria Foreign Reserves FallNigeria Foreign Reserves Fall

Nigeria’s foreign reserves fell to $35.95 billion by Dec. 8, down 19.3% from a year earlier as the central bank stepped up its defense of the naira currency, Reuters reported. The reserves of Africa’s biggest economy and top oil producer fell from $44.53 billion in same period last year. Reserves stood at $37.98 billion a month ago, the data showed on Wednesday.