{"id":32760,"date":"2020-11-24T19:36:41","date_gmt":"2020-11-24T19:36:41","guid":{"rendered":"https:\/\/www.africa-press.com\/nigeria\/?p=32760"},"modified":"2020-11-24T19:36:41","modified_gmt":"2020-11-24T19:36:41","slug":"naira-depreciates-against-dollar-at-ie-window-amid-fall-in-forex-supply","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/nigeria\/economy\/naira-depreciates-against-dollar-at-ie-window-amid-fall-in-forex-supply","title":{"rendered":"Naira depreciates against dollar at I&E window amid fall in forex supply"},"content":{"rendered":"

Africa-Press<\/a> – Nigeria<\/a>. <\/strong><\/span>Naira weakened against the United States dollar on Monday on the over-the-counter spot market segment of the currency market, called the Investors and Exporters (I&E) forex window, closing at 386.<\/p>\n

It translated to a 0.04% or 17 kobo drop from the rate of exchange at the close of trade on Friday, which was 385.83.<\/p>\n

The local currency hit an intraday low of 394.83 against dollar before paring down losses to close at 386. Conversely, naira reached a high of 383 before falling to record the 386 close.<\/p>\n

Trade volume slumped by 31.5% as liquidity worsened on account of limited dollar supply induced by the central bank\u2019s move to ration the United States currency to conserve Nigeria\u2019s foreign exchange reserves.<\/p>\n

Meanwhile, naira gained strength against the dollar on the parallel market at 483, relative to the 484 close it recorded at the previous session, data from abokiFX showed.<\/p>\n

\u201cI think that the CBN, by pushing the official foreign exchange rate from N306 to N379 to dollar, is in line with market demand.<\/p>\n

\u201cIt has also helped to narrow the official-parallel market rates gap that formed the basis of ridiculous speculations among unpatriotic forex dealers and spectators,\u201d said Aminu Gwadabe, president Association of Bureau De Change Operators of Nigeria.<\/p>\n

Opinions<\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Nigeria. Naira weakened against the United States dollar on Monday on the over-the-counter spot market segment of the currency market, called the Investors and Exporters (I&E) forex window, closing at 386. It translated to a 0.04% or 17 kobo drop from the rate of exchange at the close of trade on Friday, which […]<\/p>\n","protected":false},"author":84,"featured_media":32759,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[24,15,28,26],"tags":[1622,1570,1621,420,1623,254],"class_list":["post-32760","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-homepage-english","category-twitter","tag-abokifx","tag-africa-press","tag-dollar","tag-forex","tag-naira","tag-nigeria"],"yoast_head":"\nNaira depreciates against dollar at I&E window amid fall in forex supply - Nigeria<\/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:\/\/www.africa-press.net\/nigeria\/economy\/naira-depreciates-against-dollar-at-ie-window-amid-fall-in-forex-supply\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Naira depreciates against dollar at I&E window amid fall in forex supply\" \/>\n<meta property=\"og:description\" content=\"Africa-Press – Nigeria. Naira weakened against the United States dollar on Monday on the over-the-counter spot market segment of the currency market, called the Investors and Exporters (I&E) forex window, closing at 386. It translated to a 0.04% or 17 kobo drop from the rate of exchange at the close of trade on Friday, which […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/nigeria\/economy\/naira-depreciates-against-dollar-at-ie-window-amid-fall-in-forex-supply\" \/>\n<meta property=\"og:site_name\" content=\"Nigeria\" \/>\n<meta property=\"article:published_time\" content=\"2020-11-24T19:36:41+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/nigeria\/sites\/3\/2020\/11\/img-5fbd59702e729.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"640\" \/>\n\t<meta property=\"og:image:height\" content=\"350\" \/>\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-against-dollar-at-ie-window-amid-fall-in-forex-supply#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/naira-depreciates-against-dollar-at-ie-window-amid-fall-in-forex-supply\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Naira depreciates against dollar at I&E window amid fall in forex supply\",\"datePublished\":\"2020-11-24T19:36:41+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/naira-depreciates-against-dollar-at-ie-window-amid-fall-in-forex-supply\"},\"wordCount\":218,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/naira-depreciates-against-dollar-at-ie-window-amid-fall-in-forex-supply#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/nigeria\/sites\/3\/2020\/11\/img-5fbd59702e729.jpg\",\"keywords\":[\"abokiFX\",\"Africa Press\",\"Dollar\",\"FOREX\",\"naira\",\"Nigeria\"],\"articleSection\":[\"all news\",\"Economy\",\"homepage-english\",\"twitter\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/nigeria\/economy\/naira-depreciates-against-dollar-at-ie-window-amid-fall-in-forex-supply#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/naira-depreciates-against-dollar-at-ie-window-amid-fall-in-forex-supply\",\"url\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/naira-depreciates-against-dollar-at-ie-window-amid-fall-in-forex-supply\",\"name\":\"Naira depreciates against dollar at I&E window amid fall in forex supply - 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