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Nigeria's Forex Reserves Hit $53 Billion After 17 Years This marks the strongest position since January 2009, when reserves were near $53.25 billion, following steady gains from $49.96 billion in early June. Analysts credit sustained inflows from oil exports, remittances, and other sources amid efforts to stabilize the naira. While many hailed it as a historic milestone tied to current reforms, others raised concerns about political pressures and ongoing economic hardships for everyday Nigerians.
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