Nigeria, April 28 -- Despite a little decrease in the US dollar worldwide, fresh data from the Central Bank of Nigeria revealed the currency dropped from N1,361.50 noted at the end of last week. The most recent drop highlights the widening gap between Nigeria's domestic market conditions and global currency trends.



The News Chronicle understands that ongoing demand for dollars from importers and investors, and declining foreign reserves, continue to exceed any relief from global market conditions, thereby keeping the naira under constant pressure.



Figures show that Nigeria's reserves declined by roughly 731 million dollars in April, going from over 49 billion dollars at the beginning of the month to nearly 48.44 billion dollars. ...