Thu Apr 30, 2015/Reuters

Nigerian forex reserves fell 1 percent month-on-month to $29.5 billion by April 28, from $29.8 billion a month earlier, the central bank said on Thursday.

The reserves of Africa’s biggest economy were down 22.6 percent year-on-year when they stood at $38.14 billion. Nigeria’s central bank has used its forex reserves to support the local currency in the wake of falling global oil prices.