Records revealed that the reserves, which had suffered significant declines in past months, had been maintaining a steady rise of recent.
The nation’s foreign exchange reserves fell from $45.838bn at the end of August to $41.533bn on November 21.
Figures from the CBN had earlier revealed that the reserves fell by $990.98m from $47.11bn in July to $46.128bn on August 23, 2018.
But of recent, records from the apex bank showed that the external reserves were gradually moving on a recovery path.
The Governor of the CBN, Godwin Emefiele, had earlier said that because crude oil was a major source of the country’s foreign exchange, the nation’s economy became sensitive to fluctuations in the price of crude oil.