Nigeria's dollar reserves rise to more than 19-month high - cenbank

Nigeria's foreign exchange reserves rose to a more than 19-month high of $29.45 billion as of Feb. 24, central bank data showed on Tuesday, as Africa's biggest economy tries to rebuild its dollar buffers hammered by low oil prices.
Nigeria's dollar reserves have been rising steadily since October 19, when they stood at $23.89 billion. The central bank did not provide any reason for the rise in its reserves, which coincides with a recent rise in crude prices.
Nigeria's foreign exchange reserves have increased by 12.9 percent since the start of the year but are still far off their peak of $64 billion hit in August 2008.
© Reuters News