Nigeria’s foreign exchange reserves will fall to $42 billion this month, analysts at Financial Derivatives Company Limited (FDC) have projected. The analysts stated this in the September edition of the firm’s “Lagos Business School (LBS) Breakfast Session” presentation obtained by New Telegraph at the weekend. According to the presentation by the Chief Executive Officer, FDC, Mr. Bismarck Rewane, the projected drop in external reserves will be caused by lower oil prices as well as “increased activities at the Investors and Exporters’ (I&E) window.” Latest data obtained from…
Read MoreFDC: External reserves to slide below $43bn
