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Nigeria's foreign reserves have taken a significant hit, dropping by $359.91 million in just one week to settle at $40.56 billion as of January 13, 2025.
The decrease indicates the ongoing economic challenges facing the country as it grapples with rising inflation, dwindling investor confidence, and persistent fiscal instability. Foreign reserves play a vital role in buffering a nation's economy against external shocks, ensuring liquidity for international trade, and fostering investor trust.
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