{"id":104846,"date":"2023-12-21T21:49:41","date_gmt":"2023-12-21T20:49:41","guid":{"rendered":"https:\/\/www.africa-press.net\/nigeria\/uncategorized\/naira-depreciates-at-official-window-gains-at-parallel-market"},"modified":"2023-12-22T00:44:45","modified_gmt":"2023-12-21T23:44:45","slug":"naira-depreciates-at-official-window-gains-at-parallel-market","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/nigeria\/economy\/naira-depreciates-at-official-window-gains-at-parallel-market","title":{"rendered":"Naira depreciates at official window, gains at parallel market"},"content":{"rendered":"

Africa-Press – Nigeria. <\/strong><\/span>Nigeria\u2019s currency, the Naira, depreciated marginally against the dollar at the Nigerian Autonomous Foreign Exchange Market (NAFEM), the official market, but gained at the parallel market.<\/p>\n

According to FDMQ data, the local currency dropped to N854. 61\/$1 on Wednesday, compared to the Tuesday\u2019s close of N844.85\/$1 to a dollar at the close of trading.<\/p>\n

Meanwhile, there is respite at the country\u2019s parallel market as the Naira recorded a gain by strengthening marginally to N1, 228\/$1 on Wednesday as against N1,238 traded the previous day.<\/p>\n

Similarly, the Naira appreciated against the Great Britain Pounds (GBP), closing at N1,560\/\u00a3 on Wednesday compared to the closing rate of N1,570 to the GBP exchanged on Tuesday.<\/p>\n

The Governor of the Central Bank of Nigeria, Olayemi Cardoso, speaking on Wednesday last week before the National Assembly joint committee on Banking and Insurance, said the country\u2019s exchange rate pressures are expected to reduce in 2024.<\/p>\n

\u201cExchange rate pressures are also expected to reduce significantly with the smooth functioning of the foreign exchange market,\u201d he said.<\/p>\n

Since 14 June, when the apex bank introduced FX reforms, Naira has continued fluctuating in the forex market.<\/p>\n

For More News And Analysis About Nigeria<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Nigeria. Nigeria\u2019s currency, the Naira, depreciated marginally against the dollar at the Nigerian Autonomous Foreign Exchange Market (NAFEM), the official market, but gained at the parallel market. According to FDMQ data, the local currency dropped to N854. 61\/$1 on Wednesday, compared to the Tuesday\u2019s close of N844.85\/$1 to a dollar at the close […]<\/p>\n","protected":false},"author":84,"featured_media":104845,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[24,15],"tags":[1570,2140,1623,254],"class_list":["post-104846","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-africa-press","tag-africa-press-nigeria-2","tag-naira","tag-nigeria"],"yoast_head":"\nNaira depreciates at official window, gains at parallel market - Nigeria<\/title>\n<meta name=\"description\" content=\"Nigeria\u2019s currency, the Naira, depreciated marginally against the dollar at the Nigerian Autonomous Foreign Exchange Mar ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/nigeria\/economy\/naira-depreciates-at-official-window-gains-at-parallel-market\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Naira depreciates at official window, gains at parallel market\" \/>\n<meta property=\"og:description\" content=\"Nigeria\u2019s currency, the Naira, depreciated marginally against the dollar at the Nigerian Autonomous Foreign Exchange Mar ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/nigeria\/economy\/naira-depreciates-at-official-window-gains-at-parallel-market\" \/>\n<meta property=\"og:site_name\" content=\"Nigeria\" \/>\n<meta property=\"article:published_time\" content=\"2023-12-21T20:49:41+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-12-21T23:44:45+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/nigeria\/sites\/3\/2023\/12\/sm_1703185886.35875.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"720\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\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\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/naira-depreciates-at-official-window-gains-at-parallel-market#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/naira-depreciates-at-official-window-gains-at-parallel-market\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Naira depreciates at official window, gains at parallel market\",\"datePublished\":\"2023-12-21T20:49:41+00:00\",\"dateModified\":\"2023-12-21T23:44:45+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/naira-depreciates-at-official-window-gains-at-parallel-market\"},\"wordCount\":208,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/naira-depreciates-at-official-window-gains-at-parallel-market#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/nigeria\/sites\/3\/2023\/12\/sm_1703185886.35875.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Nigeria\",\"naira\",\"Nigeria\"],\"articleSection\":[\"all news\",\"Economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/nigeria\/economy\/naira-depreciates-at-official-window-gains-at-parallel-market#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/naira-depreciates-at-official-window-gains-at-parallel-market\",\"url\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/naira-depreciates-at-official-window-gains-at-parallel-market\",\"name\":\"Naira depreciates at official window, gains at parallel market - 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