Here’s some recent news related to foreign exchange reserves:

1. Nigeria’s FX Reserves Reach Three-Week High:
   • As of May 6, 2024, Nigeria’s foreign reserves rose to $32.369 billion, marking an improvement. This boost is expected to strengthen the value of the Nigerian naira.

2. Belarus Foreign Exchange Reserves:
   • Belarus has seen growth in its foreign exchange reserves for the third consecutive month. As of May 1, 2024, the reserves amounted to $8.442 billion.

3. US Dollar Share of Global Reserves Declines:
   • The share of US dollar reserves held by central banks dropped to 59% during the fourth quarter of 2020, reaching its lowest level in 25 years. This decline reflects the changing role of the US dollar in the global economy, with other currencies gaining prominence for international transactions.

4. India’s Record High Forex Reserves:
   • • India’s foreign exchange reserves hit a record high of $642.63 billion in March 2024. The Reserve Bank of India added approximately $58 billion to its forex kitty in the calendar year 2023, following a cumula1tive slump of $71 billion in 2022.

These developments highlight the importance of foreign exchange reserves in maintaining economic stability and supporting national currencies. If you’d like more information on any specific topic, feel free to ask! 😊