Nigeria, March 25 -- Showing the currency moved inside a small range of N1,372 to N1,389 during the session, Central Bank of Nigeria trade data mirrored rather steady but cautious market activity.

With total interbank turnover of $83.44 million across several transactions, the average exchange rate for the day was N1,381.86 per dollar.



Falling to $49.6 billion as of March 23 from $49.8 billion reported days before, Nigeria's external reserves show ongoing pressure on the nation's FX buffers.



The News Chronicle gathered that, as investors are wary in the face of political unrest and changing monetary policy expectations in significant countries, the naira's movement is being influenced not just by local liquidity circumstances bu...