Nigeria’s Foreign Exchange Reserves hit $33.69b

Nigeria’s foreign exchange reserves stood at $33.69 billion as of Oct. 27, up 4.1 percent from a month earlier, central bank data showed on Tuesday.

The bank did not provide a reason for the increase in reserves, which stood at $32.37 billion last month, Reuters reports.

Nigeria’s forex buffer has climbed 40.68 percent this year from a year ago, but is still far off a peak of $64 billion hit in August 2008.