{"id":125438,"date":"2024-07-23T23:41:45","date_gmt":"2024-07-23T22:41:45","guid":{"rendered":"https:\/\/www.africa-press.net\/nigeria\/uncategorized\/naira-slumps-against-dollar-amid-cbn-interest-rate-hike"},"modified":"2024-07-24T00:51:28","modified_gmt":"2024-07-23T23:51:28","slug":"naira-slumps-against-dollar-amid-cbn-interest-rate-hike","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/nigeria\/economy\/naira-slumps-against-dollar-amid-cbn-interest-rate-hike","title":{"rendered":"Naira slumps against dollar amid CBN interest rate hike"},"content":{"rendered":"

Africa-Press – Nigeria. <\/strong><\/span>The naira nosedived against the dollar at foreign exchange markets in the wake of the Central Bank of Nigeria\u2019s latest interest rate hike.<\/p>\n

Dayyabu Ashiru, a Bureau De Change operator in Wuse Zone 4, Abuja, told DAILY POST that the naira exchanged for N1,590 per dollar on Tuesday from N1,570 the previous day.<\/p>\n

\u201cWe buy at N1,580 per dollar and sell at N1,590,\u201d he said.<\/p>\n

This represents a N20 loss.<\/p>\n

The naira similarly depreciated at the official foreign exchange market.<\/p>\n

FMDQ data showed that the currency depreciated to N 1,548.76 per dollar on Tuesday from N1,500.32 exchanged on Monday.<\/p>\n

This showed that the naira shed N48.44 against the dollar on Tuesday compared to the previous day.<\/p>\n

The depreciation comes despite CBN selling $106.5 million in foreign currency last Wednesday and Thursday to authorised dealers.<\/p>\n

This comes on the heels of CBN\u2019s interest rate hike to 26.75 per cent on Tuesday from 26.25 per cent in May.<\/p>\n

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

Africa-Press – Nigeria. The naira nosedived against the dollar at foreign exchange markets in the wake of the Central Bank of Nigeria\u2019s latest interest rate hike. Dayyabu Ashiru, a Bureau De Change operator in Wuse Zone 4, Abuja, told DAILY POST that the naira exchanged for N1,590 per dollar on Tuesday from N1,570 the previous […]<\/p>\n","protected":false},"author":84,"featured_media":125437,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[24,15,29,28,2660],"tags":[503,1621,1623,254],"class_list":["post-125438","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-head-lines","category-homepage-english","category-to-homepage","tag-cbn","tag-dollar","tag-naira","tag-nigeria"],"yoast_head":"\nNaira slumps against dollar amid CBN interest rate hike - Nigeria<\/title>\n<meta name=\"description\" content=\"The naira nosedived against the dollar at foreign exchange markets in the wake of the Central Bank of Nigeria\u2019s latest i ...\" \/>\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-slumps-against-dollar-amid-cbn-interest-rate-hike\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Naira slumps against dollar amid CBN interest rate hike\" \/>\n<meta property=\"og:description\" content=\"The naira nosedived against the dollar at foreign exchange markets in the wake of the Central Bank of Nigeria\u2019s latest i ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/nigeria\/economy\/naira-slumps-against-dollar-amid-cbn-interest-rate-hike\" \/>\n<meta property=\"og:site_name\" content=\"Nigeria\" \/>\n<meta property=\"article:published_time\" content=\"2024-07-23T22:41:45+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-07-23T23:51:28+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/nigeria\/sites\/3\/2024\/07\/sm_1721765756.057592.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-slumps-against-dollar-amid-cbn-interest-rate-hike#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/naira-slumps-against-dollar-amid-cbn-interest-rate-hike\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Naira slumps against dollar amid CBN interest rate hike\",\"datePublished\":\"2024-07-23T22:41:45+00:00\",\"dateModified\":\"2024-07-23T23:51:28+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/naira-slumps-against-dollar-amid-cbn-interest-rate-hike\"},\"wordCount\":174,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/naira-slumps-against-dollar-amid-cbn-interest-rate-hike#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/nigeria\/sites\/3\/2024\/07\/sm_1721765756.057592.jpg\",\"keywords\":[\"CBN\",\"Dollar\",\"naira\",\"Nigeria\"],\"articleSection\":[\"all news\",\"Economy\",\"head lines\",\"homepage-english\",\"to-homepage\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/nigeria\/economy\/naira-slumps-against-dollar-amid-cbn-interest-rate-hike#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/naira-slumps-against-dollar-amid-cbn-interest-rate-hike\",\"url\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/naira-slumps-against-dollar-amid-cbn-interest-rate-hike\",\"name\":\"Naira slumps against dollar amid CBN interest rate hike - 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