Nigeria: Foreign Exchange up 10 percent

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Nigeria’s foreign exchange reserves stood at $37.92 billion as of Dec. 22, up 10.1 percent from a month earlier, central bank data showed on Friday.

The government raised $3 billion in Eurobonds in November.

Nigeria’s forex buffer has climbed nearly 50 percent since last December but is still far off a peak of $64 billion hit in August 2008.