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Data from FMP. Forecasts by Sigmanomics Forecast Engine.
NigeriaNigeria Foreign Exchange Reserves climbed to 51.92B in July 2026
FMPMonthlyReleased July 2026
Nigeria Foreign Exchange Reserves climbed to 51.92B in July 2026, up 0.63B from June's 51.29B reading. The reading matched the 51.5B consensus. The print is running well above the 12-month average of 48.18B. Over the past 3 months, Foreign Exchange Reserves averaged 50.75B, vs 49.07B in the prior 3-month window. Foreign Exchange Reserves is now the highest in 27 months.
Latest Release
51.92
Actual
51.5
Consensus
51.29
Previous
Median Absolute Error
±0.67 billion
across last 12 releases
Last Call
Jun 2026
Predicted: 48.95
Actual: 49.58
Error: -0.63
Sigmacast Σ-direction model: consensus + ½ × mean(surprise, trailing 90d).
CORRELATED SYMBOLS— markets that historically move with this indicator
| Symbol | Direction | Correlation | Asset Class | Co-movement | Action |
|---|---|---|---|---|---|
| GBP/USD | ▼ Inverse | −0.57 | FOREX | Moves against | → View |
| USD/JPY | ▲ Direct | +0.31 | FOREX | Moves with | → View |
Correlation based on 12-month rolling window. Click any symbol to view its Sigmanomics forecast page.
THE RELEASE
Foreign Exchange Reserves (Nigeria) was reported at 51.92 billion in July 2026. The reading rose from the previous value of 51.29 billion. Trailing 12-month context per ETL data through June 2026. Over the past 12 months, the indicator has averaged 44.95 billion, ranging from 39.27 billion to 49.58 billion across 10 releases.
WHY IT MATTERS
The trailing three releases averaged 49.46 billion, up from the prior three at 45.37 billion. Volatility over the past year (σ 3.54 billion) is higher than the prior year (σ 1.30 billion). In June readings over the past 3 years, Foreign Exchange Reserves has averaged 40.01 billion.
THE MODEL'S TAKE
Historically, this indicator is negatively correlated with GBP/USD (Bearish GBP). A secondary relationship exists with USD/JPY, positively correlated (Bullish USD). Over the last 12 releases, the Sigmacast model's median absolute error is 0.67 billion.
Auto-generated from current model state · Refreshes on each release · Last update June 2026.
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Foreign Exchange Reserves - NG
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About Foreign Exchange Reserves — Nigeria
DEFINITION
Foreign Exchange Reserves refer to the amount of foreign currency held by a country's central bank. These reserves are used to maintain stability in the country's currency and to fulfill international payment obligations. They serve as a measure of a country's economic strength and ability to withstand external shocks. Foreign Exchange Reserves are an important financial indicator for investors and policymakers, providing insight into a country's monetary policy and its ability to manage its currency.
WHY THIS INDICATOR MATTERS
This release contributes to the broader macro picture used by cross-asset investors for positioning and risk management. The release is more useful as part of a longer-run signal than as a single-print catalyst. Released monthly.
WHAT CHANGED THIS MONTH
Latest reading (Jul 2026): actual 51.92 B. Prior reading (Jul 2026): 51.92 B. Before that (May 2026): 49.58 B.
WHAT'S NEXT
Sigmacast's 1-month forecast points to a similar reading versus the latest print, with the 3-month outlook reinforcing that direction. Both horizons are aligned bullish for this indicator, suggesting a consistent trend signal. Trend-driven dynamics are the primary tailwind in the current projection. This indicator correlates most strongly with GBP/USD (Bearish GBP, r=-0.57) — a useful reference for forex-focused traders.
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