Nigeria’s external reserves have climbed to $52.66 billion as of August 19, marking a $7.09 billion increase year-to-date. This 15.6% growth, driven by higher oil earnings and increased investment inflows, strengthens the Central Bank of Nigeria’s capacity to manage FX volatility. The strengthening reserve position, combined with a weakening global US dollar, continues to support the Naira’s stability in the foreign exchange market.