According to the central bank governor of Nigeria the country's forex reserves hit $36.63 billion as of June 30. The significance of the number shows that Nigeria has risen back to the levels of foreign currency reserves held in April, before they made a hefty debt repayment. This could indicate a strong economic upswing in Nigeria, where high oil prices have increased the value of the country's crude exports, helping it build the forex reserves. Reserves had declined by 8.7 percent month on month down to $33.06 billion in April after the repayment of a final block of debt to the Paris Club. Nigeria is sub-Saharan Africa's second largest economy.