Nigeria FX Reserves at 19-month High of $30.8b

Nigeria's foreign exchange reserves rose to $30.80 billion by April 26, their highest level since Sept. 2015, central bank data showed on Friday.

The increase in the foreign exchange reserves of Africa's top crude exporter could be attributed to a recent rise in global crude oil price and proceeds of Nigeria's latest Eurobond issued last month.

Nigeria's dollar reserves stood at $30.31 billion a month ago. They have risen 18.1 percent since the start of the year but are still far off their peak of $64 billion, hit in August 2008.