Central Bank of Nigeria
External Sector, Nigeria, First Quarter
Transactions in foreign exchange through the Central Bank of Nigeria resulted in a net outflow of N819.0 million in the first quarter of 1987, in contrast with a net inflow of Nl,580.8 million in the preceding quarter ang. a net outflow of N76.4 million during the corresponding quarter of 1986. The deterioration in the foreign exchange position during the quarter under review was attributable to the combined effects of a decline of 4.2 per cent in the level of inflow and a rise of 77 .6 per cent in the level of outflow.
CBN Economic and Financial Review
Central Bank of Nigeria (1987). Developments in Nigeria's External Sector during the First Quarter of 1987. CBN Economic and Financial Review. 25(1), 17-19.