Nigeria's forex reserves decline 15.61 pct to $29.13 bln yr/yr by Dec 29

Nigeria's foreign exchange reserves declined by 15.61 percent year-on-year to $29.13 billion by Dec. 29, from $34.52 billion a year ago, data from the central bank showed on Thursday.
The forex reserves of Africa's biggest economy and top crude exporter also dropped by 2.6 percent in one month from $29.91 billion a month earlier.
The forex reserves fell to their lowest since July 1, 2015 when they stood at $29.07 billion because the central bank has been using the reserves to support the ailing naira currency in the wake of falling global oil prices.