The Nigerian naira experienced a third consecutive day of weakening, despite recently reaching three-month highs, as Nigeria grapples with shrinking dollar liquidity and a decline in foreign exchange reserves to a seven-year low of $32 billion as of April 19. This downturn ended the naira’s brief stint as the top-performing global currency, with the exchange rate falling 5.3% against the dollar on the official market and 6% on the unofficial market, extending a three-day loss to 17%.