Nigeria spends $380 mln to defend naira over two days

A trader changes dollars with naira at a currency exchange store in Lagos February 12, 2015. REUTERS/Joe Penney

LAGOS (Reuters) - Nigeria's central bank spent $380 million in two days to prop up its ailing naira, after it conducting special forex interventions to shore up the local currency.

Latest data on the central bank website on Tuesday showed that reserves fell to $32.66 billion by Feb. 16, down 1.2 percent from $33.04 billion by Feb. 13. Foreign reserves have fallen by 5.3 percent from a month ago.