Nigeria’s foreign exchange reserves fell 0.16 percent month-on-month to $48.33 billion by June 24, the lowest level in more than three months, data from central bank showed on Wednesday.

The reserves, however, were up 30.86 percent year-on-year, compared with $36.93 billion the same time last year.

Nigeria’s central bank had sold $3.02 billion at its twice-weekly foreign exchange auction between May 22 and June 24, in its bid to support the naira currency, foreign currency traders said.

Source: Reuters (Reporting by Oludare Mayowa)