Lagos, Nigeria - Nigeria's foreign reserves hit four-month high, at US$34.67b. Nigeria’s foreign reserves rose to a four-month high of US$34.67b on 1 February, 2012, according to the apex Central Bank of Nigeria.

The figure stood at US$32.98b in January, and the current figure is higher than the US$33.16b recorded in Feb. 2011.

The reserves hit the highest level of US$36.48b last March, but dropped drastically to US$31.31b by Oct. of the same year due to the increasing sale of US dollars to shore up the value of the national currency, the naira.

Pana 06/02/2012