Nigeria: Naira Dips to N1,050 As Foreign Reserves Deplete to 7-Year Low

[Leadership] The value of the naira rescinded some of its gains yesterday selling at N1,050 to the dollar at the parallel market, as the external reserves of the country declined to its lowest level in nearly seven years. The 30 days moving average of the external reserves currently stands at $32.612 billion, according to the latest data provided by the Central Bank of Nigeria (CBN), the lowest level that the country has seen since September 29, 2017 when the reserves depleted to $32.49 billion. Between then and now,

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