Finance

CBN Says Total Currency in Circulation Hits N2.9 Trillion in 2020

CBN Says Total Currency in Circulation Hits N2.9 Trillion in 2020

The total currency in circulation grew by N249 billion from N2.66 trillion reported by the end of November to N2.91 trillion in December 2020.

This was disclosed in the data obtained from the Central Bank of Nigeria on Sunday.

Total currency in circulation rose from N2.49 trillion in October while the reserve money grew moderately as of end-September 2020.

The apex bank said reserve money grew by 2.5 percent to N13.57 trillion at the end-September 2020, lower than the 30.4 percent recorded at the end of June 2020.

Liabilities to other depository corporations grew by 1.9 percent to N11.14 trillion.
Samed Olukoya

Is the CEO and Founder of Investors King Limited. He is a seasoned foreign exchange research analyst and a published author on Yahoo Finance, Business Insider, Nasdaq, Entrepreneur.com, Investorplace, and other prominent platforms. With over two decades of experience in global financial markets, Olukoya is well-recognized in the industry.

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Samed Olukoya
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