{"id":124890,"date":"2024-07-20T11:59:24","date_gmt":"2024-07-20T10:59:24","guid":{"rendered":"https:\/\/www.africa-press.net\/nigeria\/uncategorized\/nigerias-external-reserves-increase-to-36-89bn-on-cbns-policy-cardoso"},"modified":"2024-07-20T13:06:52","modified_gmt":"2024-07-20T12:06:52","slug":"nigerias-external-reserves-increase-to-36-89bn-on-cbns-policy-cardoso","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/nigeria\/economy\/nigerias-external-reserves-increase-to-36-89bn-on-cbns-policy-cardoso","title":{"rendered":"Nigeria\u2019s external reserves increase to $36.89bn on CBN\u2019s policy \u2013 Cardoso"},"content":{"rendered":"

Africa-Press – Nigeria. <\/strong><\/span>The Governor of the Central Bank of Nigeria, Olayemi Cardoso, has said the country\u2019s external reserve increased to $36.89 billion as of July 16 2024 amid the banks\u2019 policy interventions.<\/p>\n

Cardoso disclosed this on Friday in Abuja during an engagement with the Senate Committee on Banking, Insurance and Other Financial Institutions.<\/p>\n

He noted that the CBN\u2019s monetary policies and actions have stimulated growth and stability in Nigeria\u2019s economy.<\/p>\n

Cardoso added that the Naira is on a successful price discovery against the dollar and other FX as the gap between the official and Black market shrinks.<\/p>\n

He said, \u201cThe spread between official and BDC rates has narrowed significantly from N162.62 in January to N47.22 in June indicating successful price discovery, increased market efficiency and reduced arbitrage opportunities.<\/p>\n

\u201cThe stock of external reserves increased to 36.89 billion dollars as of July 16, compared with 33.22 billion dollars as at end-Dec 2023, driven largely by receipts from crude oil-related taxes and third-party receipts. In the first quarter of 2024, we maintained a current account surplus and saw improvements in our trade balance.\u201d<\/p>\n

Meanwhile, Nigeria\u2019s external reserve stood at $35.9 billion as of Thursday, 18, July 2024, CBN\u2019s data showed.<\/p>\n

The development comes as CBN resumed the Naira defense through the supply of FX to authorized dealers amid a demand spike.<\/p>\n

For More News And Analysis About Nigeria Follow Africa-Press<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Nigeria. The Governor of the Central Bank of Nigeria, Olayemi Cardoso, has said the country\u2019s external reserve increased to $36.89 billion as of July 16 2024 amid the banks\u2019 policy interventions. Cardoso disclosed this on Friday in Abuja during an engagement with the Senate Committee on Banking, Insurance and Other Financial Institutions. He […]<\/p>\n","protected":false},"author":84,"featured_media":124888,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[24,15],"tags":[11494,503,254],"class_list":["post-124890","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-cardoso","tag-cbn","tag-nigeria"],"yoast_head":"\nNigeria\u2019s external reserves increase to $36.89bn on CBN\u2019s policy \u2013 Cardoso - Nigeria<\/title>\n<meta name=\"description\" content=\"The Governor of the Central Bank of Nigeria, Olayemi Cardoso, has said the country\u2019s external reserve increased to $36.8 ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/nigeria\/economy\/nigerias-external-reserves-increase-to-36-89bn-on-cbns-policy-cardoso\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Nigeria\u2019s external reserves increase to $36.89bn on CBN\u2019s policy \u2013 Cardoso\" \/>\n<meta property=\"og:description\" content=\"The Governor of the Central Bank of Nigeria, Olayemi Cardoso, has said the country\u2019s external reserve increased to $36.8 ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/nigeria\/economy\/nigerias-external-reserves-increase-to-36-89bn-on-cbns-policy-cardoso\" \/>\n<meta property=\"og:site_name\" content=\"Nigeria\" \/>\n<meta property=\"article:published_time\" content=\"2024-07-20T10:59:24+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-07-20T12:06:52+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/nigeria\/sites\/3\/2024\/07\/sm_1721464317.324333.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1092\" \/>\n\t<meta property=\"og:image:height\" content=\"543\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/nigerias-external-reserves-increase-to-36-89bn-on-cbns-policy-cardoso#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/nigerias-external-reserves-increase-to-36-89bn-on-cbns-policy-cardoso\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Nigeria\u2019s external reserves increase to $36.89bn on CBN\u2019s policy \u2013 Cardoso\",\"datePublished\":\"2024-07-20T10:59:24+00:00\",\"dateModified\":\"2024-07-20T12:06:52+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/nigerias-external-reserves-increase-to-36-89bn-on-cbns-policy-cardoso\"},\"wordCount\":235,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/nigerias-external-reserves-increase-to-36-89bn-on-cbns-policy-cardoso#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/nigeria\/sites\/3\/2024\/07\/sm_1721464317.324333.jpg\",\"keywords\":[\"Cardoso\",\"CBN\",\"Nigeria\"],\"articleSection\":[\"all news\",\"Economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/nigeria\/economy\/nigerias-external-reserves-increase-to-36-89bn-on-cbns-policy-cardoso#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/nigerias-external-reserves-increase-to-36-89bn-on-cbns-policy-cardoso\",\"url\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/nigerias-external-reserves-increase-to-36-89bn-on-cbns-policy-cardoso\",\"name\":\"Nigeria\u2019s external reserves increase to $36.89bn on CBN\u2019s policy \u2013 Cardoso - Nigeria\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/nigerias-external-reserves-increase-to-36-89bn-on-cbns-policy-cardoso#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/nigerias-external-reserves-increase-to-36-89bn-on-cbns-policy-cardoso#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/nigeria\/sites\/3\/2024\/07\/sm_1721464317.324333.jpg\",\"datePublished\":\"2024-07-20T10:59:24+00:00\",\"dateModified\":\"2024-07-20T12:06:52+00:00\",\"author\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"description\":\"The Governor of the Central Bank of Nigeria, Olayemi Cardoso, has said the country\u2019s external reserve increased to $36.8 ...\",\"breadcrumb\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/nigerias-external-reserves-increase-to-36-89bn-on-cbns-policy-cardoso#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.africa-press.net\/nigeria\/economy\/nigerias-external-reserves-increase-to-36-89bn-on-cbns-policy-cardoso\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/nigerias-external-reserves-increase-to-36-89bn-on-cbns-policy-cardoso#primaryimage\",\"url\":\"https:\/\/static.africa-press.net\/nigeria\/sites\/3\/2024\/07\/sm_1721464317.324333.jpg\",\"contentUrl\":\"https:\/\/static.africa-press.net\/nigeria\/sites\/3\/2024\/07\/sm_1721464317.324333.jpg\",\"width\":1092,\"height\":543,\"caption\":\"Nigeria\u2019s external reserves increase to $36.89bn on CBN\u2019s policy \u2013 Cardoso\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/nigerias-external-reserves-increase-to-36-89bn-on-cbns-policy-cardoso#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.africa-press.net\/nigeria\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Nigeria\u2019s external reserves increase to $36.89bn on CBN\u2019s policy \u2013 Cardoso\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/#website\",\"url\":\"https:\/\/www.africa-press.net\/nigeria\/\",\"name\":\"Africa Press | Nigeria | Homepage\",\"description\":\"Just another Africa News Agency Sites site\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.africa-press.net\/nigeria\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\",\"name\":\"cfeditoren\",\"url\":\"https:\/\/www.africa-press.net\/nigeria\/author\/cfeditoren\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Nigeria\u2019s external reserves increase to $36.89bn on CBN\u2019s policy \u2013 Cardoso - Nigeria","description":"The Governor of the Central Bank of Nigeria, Olayemi Cardoso, has said the country\u2019s external reserve increased to $36.8 ...","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.africa-press.net\/nigeria\/economy\/nigerias-external-reserves-increase-to-36-89bn-on-cbns-policy-cardoso","og_locale":"en_US","og_type":"article","og_title":"Nigeria\u2019s external reserves increase to $36.89bn on CBN\u2019s policy \u2013 Cardoso","og_description":"The Governor of the Central Bank of Nigeria, Olayemi Cardoso, has said the country\u2019s external reserve increased to $36.8 ...","og_url":"https:\/\/www.africa-press.net\/nigeria\/economy\/nigerias-external-reserves-increase-to-36-89bn-on-cbns-policy-cardoso","og_site_name":"Nigeria","article_published_time":"2024-07-20T10:59:24+00:00","article_modified_time":"2024-07-20T12:06:52+00:00","og_image":[{"width":1092,"height":543,"url":"https:\/\/static.africa-press.net\/nigeria\/sites\/3\/2024\/07\/sm_1721464317.324333.jpg","type":"image\/jpeg"}],"author":"cfeditoren","twitter_card":"summary_large_image","twitter_misc":{"Written by":"cfeditoren","Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.africa-press.net\/nigeria\/economy\/nigerias-external-reserves-increase-to-36-89bn-on-cbns-policy-cardoso#article","isPartOf":{"@id":"https:\/\/www.africa-press.net\/nigeria\/economy\/nigerias-external-reserves-increase-to-36-89bn-on-cbns-policy-cardoso"},"author":{"name":"cfeditoren","@id":"https:\/\/www.africa-press.net\/nigeria\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb"},"headline":"Nigeria\u2019s external reserves increase to $36.89bn on CBN\u2019s policy \u2013 Cardoso","datePublished":"2024-07-20T10:59:24+00:00","dateModified":"2024-07-20T12:06:52+00:00","mainEntityOfPage":{"@id":"https:\/\/www.africa-press.net\/nigeria\/economy\/nigerias-external-reserves-increase-to-36-89bn-on-cbns-policy-cardoso"},"wordCount":235,"commentCount":0,"image":{"@id":"https:\/\/www.africa-press.net\/nigeria\/economy\/nigerias-external-reserves-increase-to-36-89bn-on-cbns-policy-cardoso#primaryimage"},"thumbnailUrl":"https:\/\/static.africa-press.net\/nigeria\/sites\/3\/2024\/07\/sm_1721464317.324333.jpg","keywords":["Cardoso","CBN","Nigeria"],"articleSection":["all news","Economy"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.africa-press.net\/nigeria\/economy\/nigerias-external-reserves-increase-to-36-89bn-on-cbns-policy-cardoso#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.africa-press.net\/nigeria\/economy\/nigerias-external-reserves-increase-to-36-89bn-on-cbns-policy-cardoso","url":"https:\/\/www.africa-press.net\/nigeria\/economy\/nigerias-external-reserves-increase-to-36-89bn-on-cbns-policy-cardoso","name":"Nigeria\u2019s external reserves increase to $36.89bn on CBN\u2019s policy \u2013 Cardoso - Nigeria","isPartOf":{"@id":"https:\/\/www.africa-press.net\/nigeria\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.africa-press.net\/nigeria\/economy\/nigerias-external-reserves-increase-to-36-89bn-on-cbns-policy-cardoso#primaryimage"},"image":{"@id":"https:\/\/www.africa-press.net\/nigeria\/economy\/nigerias-external-reserves-increase-to-36-89bn-on-cbns-policy-cardoso#primaryimage"},"thumbnailUrl":"https:\/\/static.africa-press.net\/nigeria\/sites\/3\/2024\/07\/sm_1721464317.324333.jpg","datePublished":"2024-07-20T10:59:24+00:00","dateModified":"2024-07-20T12:06:52+00:00","author":{"@id":"https:\/\/www.africa-press.net\/nigeria\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb"},"description":"The Governor of the Central Bank of Nigeria, Olayemi Cardoso, has said the country\u2019s external reserve increased to $36.8 ...","breadcrumb":{"@id":"https:\/\/www.africa-press.net\/nigeria\/economy\/nigerias-external-reserves-increase-to-36-89bn-on-cbns-policy-cardoso#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.africa-press.net\/nigeria\/economy\/nigerias-external-reserves-increase-to-36-89bn-on-cbns-policy-cardoso"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.africa-press.net\/nigeria\/economy\/nigerias-external-reserves-increase-to-36-89bn-on-cbns-policy-cardoso#primaryimage","url":"https:\/\/static.africa-press.net\/nigeria\/sites\/3\/2024\/07\/sm_1721464317.324333.jpg","contentUrl":"https:\/\/static.africa-press.net\/nigeria\/sites\/3\/2024\/07\/sm_1721464317.324333.jpg","width":1092,"height":543,"caption":"Nigeria\u2019s external reserves increase to $36.89bn on CBN\u2019s policy \u2013 Cardoso"},{"@type":"BreadcrumbList","@id":"https:\/\/www.africa-press.net\/nigeria\/economy\/nigerias-external-reserves-increase-to-36-89bn-on-cbns-policy-cardoso#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.africa-press.net\/nigeria\/"},{"@type":"ListItem","position":2,"name":"Nigeria\u2019s external reserves increase to $36.89bn on CBN\u2019s policy \u2013 Cardoso"}]},{"@type":"WebSite","@id":"https:\/\/www.africa-press.net\/nigeria\/#website","url":"https:\/\/www.africa-press.net\/nigeria\/","name":"Africa Press | Nigeria | Homepage","description":"Just another Africa News Agency Sites site","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.africa-press.net\/nigeria\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.africa-press.net\/nigeria\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb","name":"cfeditoren","url":"https:\/\/www.africa-press.net\/nigeria\/author\/cfeditoren"}]}},"_links":{"self":[{"href":"https:\/\/www.africa-press.net\/nigeria\/wp-json\/wp\/v2\/posts\/124890","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.africa-press.net\/nigeria\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.africa-press.net\/nigeria\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.africa-press.net\/nigeria\/wp-json\/wp\/v2\/users\/84"}],"replies":[{"embeddable":true,"href":"https:\/\/www.africa-press.net\/nigeria\/wp-json\/wp\/v2\/comments?post=124890"}],"version-history":[{"count":0,"href":"https:\/\/www.africa-press.net\/nigeria\/wp-json\/wp\/v2\/posts\/124890\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.africa-press.net\/nigeria\/wp-json\/wp\/v2\/media\/124888"}],"wp:attachment":[{"href":"https:\/\/www.africa-press.net\/nigeria\/wp-json\/wp\/v2\/media?parent=124890"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.africa-press.net\/nigeria\/wp-json\/wp\/v2\/categories?post=124890"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.africa-press.net\/nigeria\/wp-json\/wp\/v2\/tags?post=124890"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}