\n
Turnover at Nigeria\u2019s foreign exchange market surged to the highest in a single day since 2017 on Tuesday amid Naira\u2019s continued appreciation against the US dollar.<\/p>\n
Data from FMDQ showed that turnover FX transactions increased to $1.085 billion on Tuesday.<\/p>\n
This represents a 27 per cent increase from $857.78 million traded last Thursday.<\/p>\n
The development comes as the Naira appreciated against the dollar at the official and parallel foreign exchange markets.<\/p>\n
Tajudeen Ibrahim, director of research and strategy at Lagos-based investment bank Chapel Hill Denham, attributed the sustained gains in Naira at the forex market to Central Bank of Nigeria\u2019s reforms.<\/p>\n
\u201cLiquidity is returning to the market, and that\u2019s solely down to the CBN\u2019s reforms.<\/p>\n
\u201cThe last time we recorded the average daily FX trades in the first quarter of this year was before COVID in 2019.<\/p>\n
\u201cThe CBN must now stay the course of the reforms,\u201d he added.<\/p>\n
Naira appreciation: FX transactions surge with $1bn single-day trade<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"
Turnover at Nigeria\u2019s foreign exchange market surged to the highest in a single day since 2017 on Tuesday amid Naira\u2019s…<\/p>\n","protected":false},"author":1,"featured_media":25245,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4161,12971,15],"tags":[12972,519,943,180],"class_list":["post-25244","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","category-naira-appreciation","category-news","tag-appreciation","tag-business","tag-naira","tag-news"],"yoast_head":"\n
Naira appreciation: FX transactions surge with $1bn single-day trade - Niger Delta News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/nigerdeltanews.ng\/naira-appreciation-fx-transactions-surge-with-1bn-single-day-trade\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Naira appreciation: FX transactions surge with $1bn single-day trade - Niger Delta News\" \/>\n<meta property=\"og:description\" content=\"Turnover at Nigeria\u2019s foreign exchange market surged to the highest in a single day since 2017 on Tuesday amid Naira\u2019s…\" \/>\n<meta property=\"og:url\" content=\"https:\/\/nigerdeltanews.ng\/naira-appreciation-fx-transactions-surge-with-1bn-single-day-trade\/\" \/>\n<meta property=\"og:site_name\" content=\"Niger Delta News\" \/>\n<meta property=\"article:published_time\" content=\"2024-04-03T07:03:32+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/nigerdeltanews.ng\/wp-content\/uploads\/2024\/04\/Naira-1.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"900\" \/>\n\t<meta property=\"og:image:height\" content=\"506\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"web\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@ndnewsng\" \/>\n<meta name=\"twitter:site\" content=\"@ndnewsng\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"web\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/nigerdeltanews.ng\/naira-appreciation-fx-transactions-surge-with-1bn-single-day-trade\/\",\"url\":\"https:\/\/nigerdeltanews.ng\/naira-appreciation-fx-transactions-surge-with-1bn-single-day-trade\/\",\"name\":\"Naira appreciation: FX transactions surge with $1bn single-day trade - Niger Delta News\",\"isPartOf\":{\"@id\":\"https:\/\/nigerdeltanews.ng\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/nigerdeltanews.ng\/naira-appreciation-fx-transactions-surge-with-1bn-single-day-trade\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/nigerdeltanews.ng\/naira-appreciation-fx-transactions-surge-with-1bn-single-day-trade\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/nigerdeltanews.ng\/wp-content\/uploads\/2024\/04\/Naira-1.jpg\",\"datePublished\":\"2024-04-03T07:03:32+00:00\",\"dateModified\":\"2024-04-03T07:03:32+00:00\",\"author\":{\"@id\":\"https:\/\/nigerdeltanews.ng\/#\/schema\/person\/464bc60b0ad2e2cefb4acb1ef5d7fb70\"},\"breadcrumb\":{\"@id\":\"https:\/\/nigerdeltanews.ng\/naira-appreciation-fx-transactions-surge-with-1bn-single-day-trade\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/nigerdeltanews.ng\/naira-appreciation-fx-transactions-surge-with-1bn-single-day-trade\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/nigerdeltanews.ng\/naira-appreciation-fx-transactions-surge-with-1bn-single-day-trade\/#primaryimage\",\"url\":\"https:\/\/nigerdeltanews.ng\/wp-content\/uploads\/2024\/04\/Naira-1.jpg\",\"contentUrl\":\"https:\/\/nigerdeltanews.ng\/wp-content\/uploads\/2024\/04\/Naira-1.jpg\",\"width\":900,\"height\":506},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/nigerdeltanews.ng\/naira-appreciation-fx-transactions-surge-with-1bn-single-day-trade\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/nigerdeltanews.ng\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Naira appreciation: FX transactions surge with $1bn single-day trade\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/nigerdeltanews.ng\/#website\",\"url\":\"https:\/\/nigerdeltanews.ng\/\",\"name\":\"Niger Delta News\",\"description\":\"Reporting from Niger Delta\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/nigerdeltanews.ng\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/nigerdeltanews.ng\/#\/schema\/person\/464bc60b0ad2e2cefb4acb1ef5d7fb70\",\"name\":\"web\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/nigerdeltanews.ng\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/40ef2b7d9a5e0f8e21921232ba5c9607?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/40ef2b7d9a5e0f8e21921232ba5c9607?s=96&d=mm&r=g\",\"caption\":\"web\"},\"sameAs\":[\"http:\/\/localhost\/nigerdeltanews\"],\"url\":\"https:\/\/nigerdeltanews.ng\/author\/web\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Naira appreciation: FX transactions surge with $1bn single-day trade - Niger Delta News","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/nigerdeltanews.ng\/naira-appreciation-fx-transactions-surge-with-1bn-single-day-trade\/","og_locale":"en_US","og_type":"article","og_title":"Naira appreciation: FX transactions surge with $1bn single-day trade - Niger Delta News","og_description":"Turnover at Nigeria\u2019s foreign exchange market surged to the highest in a single day since 2017 on Tuesday amid Naira\u2019s…","og_url":"https:\/\/nigerdeltanews.ng\/naira-appreciation-fx-transactions-surge-with-1bn-single-day-trade\/","og_site_name":"Niger Delta News","article_published_time":"2024-04-03T07:03:32+00:00","og_image":[{"width":900,"height":506,"url":"https:\/\/nigerdeltanews.ng\/wp-content\/uploads\/2024\/04\/Naira-1.jpg","type":"image\/jpeg"}],"author":"web","twitter_card":"summary_large_image","twitter_creator":"@ndnewsng","twitter_site":"@ndnewsng","twitter_misc":{"Written by":"web","Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/nigerdeltanews.ng\/naira-appreciation-fx-transactions-surge-with-1bn-single-day-trade\/","url":"https:\/\/nigerdeltanews.ng\/naira-appreciation-fx-transactions-surge-with-1bn-single-day-trade\/","name":"Naira appreciation: FX transactions surge with $1bn single-day trade - Niger Delta News","isPartOf":{"@id":"https:\/\/nigerdeltanews.ng\/#website"},"primaryImageOfPage":{"@id":"https:\/\/nigerdeltanews.ng\/naira-appreciation-fx-transactions-surge-with-1bn-single-day-trade\/#primaryimage"},"image":{"@id":"https:\/\/nigerdeltanews.ng\/naira-appreciation-fx-transactions-surge-with-1bn-single-day-trade\/#primaryimage"},"thumbnailUrl":"https:\/\/nigerdeltanews.ng\/wp-content\/uploads\/2024\/04\/Naira-1.jpg","datePublished":"2024-04-03T07:03:32+00:00","dateModified":"2024-04-03T07:03:32+00:00","author":{"@id":"https:\/\/nigerdeltanews.ng\/#\/schema\/person\/464bc60b0ad2e2cefb4acb1ef5d7fb70"},"breadcrumb":{"@id":"https:\/\/nigerdeltanews.ng\/naira-appreciation-fx-transactions-surge-with-1bn-single-day-trade\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/nigerdeltanews.ng\/naira-appreciation-fx-transactions-surge-with-1bn-single-day-trade\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/nigerdeltanews.ng\/naira-appreciation-fx-transactions-surge-with-1bn-single-day-trade\/#primaryimage","url":"https:\/\/nigerdeltanews.ng\/wp-content\/uploads\/2024\/04\/Naira-1.jpg","contentUrl":"https:\/\/nigerdeltanews.ng\/wp-content\/uploads\/2024\/04\/Naira-1.jpg","width":900,"height":506},{"@type":"BreadcrumbList","@id":"https:\/\/nigerdeltanews.ng\/naira-appreciation-fx-transactions-surge-with-1bn-single-day-trade\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/nigerdeltanews.ng\/"},{"@type":"ListItem","position":2,"name":"Naira appreciation: FX transactions surge with $1bn single-day trade"}]},{"@type":"WebSite","@id":"https:\/\/nigerdeltanews.ng\/#website","url":"https:\/\/nigerdeltanews.ng\/","name":"Niger Delta News","description":"Reporting from Niger Delta","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/nigerdeltanews.ng\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/nigerdeltanews.ng\/#\/schema\/person\/464bc60b0ad2e2cefb4acb1ef5d7fb70","name":"web","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/nigerdeltanews.ng\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/40ef2b7d9a5e0f8e21921232ba5c9607?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/40ef2b7d9a5e0f8e21921232ba5c9607?s=96&d=mm&r=g","caption":"web"},"sameAs":["http:\/\/localhost\/nigerdeltanews"],"url":"https:\/\/nigerdeltanews.ng\/author\/web\/"}]}},"_links":{"self":[{"href":"https:\/\/nigerdeltanews.ng\/wp-json\/wp\/v2\/posts\/25244","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/nigerdeltanews.ng\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/nigerdeltanews.ng\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/nigerdeltanews.ng\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/nigerdeltanews.ng\/wp-json\/wp\/v2\/comments?post=25244"}],"version-history":[{"count":0,"href":"https:\/\/nigerdeltanews.ng\/wp-json\/wp\/v2\/posts\/25244\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/nigerdeltanews.ng\/wp-json\/wp\/v2\/media\/25245"}],"wp:attachment":[{"href":"https:\/\/nigerdeltanews.ng\/wp-json\/wp\/v2\/media?parent=25244"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/nigerdeltanews.ng\/wp-json\/wp\/v2\/categories?post=25244"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/nigerdeltanews.ng\/wp-json\/wp\/v2\/tags?post=25244"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}