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Nigeria’s foreign exchange reserves rise 7.8 pct by July 29

LAGOS (Reuters) - Nigeria's foreign exchange reserves rose to $31.27 billion by July 29, up 7.83 percent from $29.00 billion a month earlier, latest data from the central bank showed. The central bank restricted access to foreign exchange last month and introduced tight control of the foreign exchange market to curb speculation and conserve forex reserves. July reserves were down 33.4 percent from $46.96 billion a year ago.