Nigeria’s foreign exchange reserves have dipped by $114 million over the past week, falling from a recent peak of $52.04 billion on July 22 to $51.92 billion as of July 29. Despite this brief decline, the reserves remain well above the $51.46 billion recorded at the end of June. The external buffer continues to show resilience following months of steady growth driven by improved oil receipts and increased diaspora remittances, providing a stronger cushion for international obligations.