Developments in Nigeria's External Sector during the Fourth Quarter of 1987

Authors

Central Bank of Nigeria CBN, Central Bank of Nigeria

Publisher

Central Bank of Nigeria

Keywords

External Sector, Nigeria, Fourth Quarter

Abstract

Transactions in foreign exchange through the Central Bank resulted in a net inflow of N495.7 million during the 4th quarter of 1987, as against a net inflow of Nl,184.5 million in the preceding quarter. This development increased the official reserves from N4, 159.0 million at the end of the 3rd quarter to N4,654. 7 million at the end of 1987. However the foreign exchange position was far from comfortable as the level of reserves could cover barely two months' imports.

Author Bio

The authors are staff of the Balance of Payment Office, International Finance Division, Research Department, Central bank of Nigeria

Publication Title

CBN Economic and Financial Review

Issue

4

Volume

25

Recommended Citation

Central Bank of Nigeria (1987). Developments in Nigeria's External Sector during the Fourth Quarter of 1987. CBN Economic and Financial Review. 25(4), 21-22.