{"id":6508,"date":"2023-12-12T08:00:16","date_gmt":"2023-12-12T08:00:16","guid":{"rendered":"https:\/\/nigerdeltanews.ng\/naira-appreciates-against-us-dollar-at-forex-market\/"},"modified":"2023-12-12T08:00:16","modified_gmt":"2023-12-12T08:00:16","slug":"naira-appreciates-against-us-dollar-at-forex-market","status":"publish","type":"post","link":"https:\/\/nigerdeltanews.ng\/naira-appreciates-against-us-dollar-at-forex-market\/","title":{"rendered":"Naira appreciates against US dollar at forex market"},"content":{"rendered":"<div>\n<p>The Naira began the week positively as it appreciated against the US dollar on Friday at the official foreign exchange market.<\/p>\n<p>Official data from FMDQ disclosed that the Naira firmed up to N864.29\/1$ from N1099.05\/$1 on Friday.<\/p>\n<p>The figure represents a N234.76 gain at the local market compared to the N1,099.05\/$1 it closed on Friday.<\/p>\n<p>The development comes despite the dollar supply dropping to $132.46 million on Monday from $137.35 million on Friday.<\/p>\n<p>Meanwhile, Naira depreciated marginally at the parallel market, exchanging at N1185\/$1 on Friday compared to 1180\/$1.<\/p>\n<p>DAILY POST reports that the Central Bank of Nigeria increased the exchange rate for cargo clearance from N783\/$ to N952\/$ amid the foreign exchange crisis.<\/p>\n<p>Recall that the Governor of CBN, Dr Olayemi Cardoso, speaking at the Chartered Institute of Bankers of Nigeria (CIBN) 50th-anniversary barely two weeks ago, expressed optimism over the stability of Naira.<\/p>\n<p>Despite his assurance, the Naira has continued to experience fluctuations in the FX market since June 14, when CBN floated the country\u2019s currency.<\/p>\n<p>Reacting to the development, Prof Godwin Oyedokun said weak economic fundamentals, low foreign reserves, increased external debts, and a double forex window caused Nigeria\u2019s forex crisis.<\/p>\n<p>\u00a0<\/p>\n<p>Naira appreciates against US dollar at forex market<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>The Naira began the week positively as it appreciated against the US dollar on Friday at the official foreign exchange&hellip;<\/p>\n","protected":false},"author":1,"featured_media":6509,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4161,939,15],"tags":[519,943,180],"class_list":["post-6508","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","category-naira","category-news","tag-business","tag-naira","tag-news"],"_links":{"self":[{"href":"https:\/\/nigerdeltanews.ng\/wp-json\/wp\/v2\/posts\/6508","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=6508"}],"version-history":[{"count":0,"href":"https:\/\/nigerdeltanews.ng\/wp-json\/wp\/v2\/posts\/6508\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/nigerdeltanews.ng\/wp-json\/wp\/v2\/media\/6509"}],"wp:attachment":[{"href":"https:\/\/nigerdeltanews.ng\/wp-json\/wp\/v2\/media?parent=6508"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/nigerdeltanews.ng\/wp-json\/wp\/v2\/categories?post=6508"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/nigerdeltanews.ng\/wp-json\/wp\/v2\/tags?post=6508"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}