LAGOS Dec 30 Nigeria's foreign exchange
reserves fell 11.7 percent to $25.72 billion by Dec. 28, from
$29.13 billion a year earlier, central bank data showed on
However, the reserves showed a 4.2 percent increase
month-on-month, up from $24.69 billion on Nov.28 - due to a
slight recovery in global oil prices and a rise in the OPEC
member's oil production levels.
Nigeria's oil production rose to 1.70 million barrels per
day (mbpd) in November, up from 1.65 mbpd the previous month,
which lifted the West African country forex reserves.
(Reporting by Oludare Mayowa; editing by Alexis Akwagyiram)