Nigeria: Foreign exchange reserves

* indicates monthly or quarterly data series
 Nigeria

Foreign exchange reserves, billion currency units

 Latest value 36.61
 Reference December 2022
 Measure billion U.S. Dollar
 Data availability January 1960 - December 2022
 Average 13.09
 Min - Max 0.06 - 62.08
 Source Central Bank of Nigeria
For that indicator, we provide data for Nigeria from January 1960 to December 2022. The average value for Nigeria during that period was 13.09 billion U.S. Dollar with a minimum of 0.06 billion U.S. Dollar in March 1968 and a maximum of 62.08 billion U.S. Dollar in September 2008. Click on the following link to see the values of Foreign exchange reserves, billion currency units around the world.
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* indicates monthly or quarterly data series


Recent values chart
Nigeria - Foreign exchange reserves - recent values

Historical chart
Nigeria - Foreign exchange reserves - historical chart - 1960-2022
Measure: billion U.S. Dollar
Source: Central Bank of Nigeria


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Definition: Foreign exchange reserves consist of foreign currency, deposits denominated in foreign currency, Monetary Gold, Special Drawing Rights (SDRs) and Reserve position in the International Monetary Fund (IMF). Foreign exchange reserves are held by monetary authorities to finance trade imbalances, check the impact of foreign exchange fluctuations and address other issues under the purview of the central bank.

 Related indicators Latest value Reference Measure
 Terms of trade 127.38 2021 percent
 Trade openness 26.17 1960 percent
 Financial openness -0.666 2021 index points
 Exports, percent of GDP 9.24 1960 percent
 Exports, billion dollars 0.39 1960 billion U.S. dollars
 Imports, percent of GDP 16.92 1960 percent
 Imports, billion dollars 0.71 1960 billion U.S. dollars
 Foreign Direct Investment, percent of GDP -0.04 2022 percent
 Foreign Direct Investment, billion dollars -0.19 2022 billion U.S. dollars
 Portfolio investment inflows, equities 1,588.28 2023 million dollars (current)
 Current account, percent of GDP 0.90 2023 percent
 Current account, in dollars -0.81 2023 billion U.S. dollars
 Trade balance, percent of GDP -7.68 1960 percent
 Trade balance, in dollars -5.16 2023 billion U.S. dollars
 Reserves 35.56 2022 billion U.S. dollars
 Remittances, percent of GDP 4.26 2022 percent
 Remittances 20,127.61 2022 million U.S. dollars
 Net errors and omissions -18,016.02 2023 million USD
 External debt 21.39 2022 percent
 Short-term external debt 22.25 2022 percent
 Short-term debt to reserves 61.52 2022 percent
 Foreign exchange reserves 37.39 9/2022 billion
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