Nigeria’s External Reserves Gained $5.12bn In 2021 – CBN

Nigeria’s external reserves rose by $5.12 billion as at December 2021, data from the Central Bank of Nigeria (CBN) has revealed.
The nation’s apex bank report showed that the reserves, which ended December 2020 at $35.37bn, rose to $40.53bn as at  December 30, 2021.
The data showed that the external reserves, which fluctuated during the period under review, received boosts from Eurobond inflow and the International Monetary Fund’s Special Drawing Right.
The CBN Governor,  Godwin Emefiele, had recently said that external reserves rose to over $41.5bn in October 2021, and supported by demand management measures, the Eurobond inflow of $4bn and the IMF’s SDR.
According to the report, SDR is an international reserve asset created by the IMF to supplement the official reserves of its member countries.
The Central Bank had also revealed in its August monthly report that aggregate foreign exchange inflow into the economy increased by 48.2 per cent, from $6.98bn in July to $9.85bn in August.
The increase reflected higher inflow through the CBN, due to the additional SDR allocation of $3.34bn from the IMF.