The Naira kicked off the week on a positive note, showing appreciation against the US dollar at the official foreign exchange market last Friday.<\/p>\n
Official data from FMDQ revealed that the Naira strengthened to N864.29\/1$ from N1,099.05\/$1 on Friday, marking a notable N234.76 gain in the local market.<\/p>\n
FMDQ, a financial market infrastructure group serving as a securities exchange and licensed by the SEC, facilitates various financial activities, including the listing, quotation, registration, and trading of securities.<\/p>\n
This positive development occurred despite a drop in dollar supply, decreasing to $132.46 million on Monday from $137.35 million on Friday.<\/p>\n
In contrast, the Naira experienced a slight depreciation in the parallel market, trading at N1,185\/$1 on Friday compared to N1,180\/$1.<\/p>\n
It’s worth noting that despite the optimism expressed by the Governor of CBN, Dr. Olayemi Cardoso, just two weeks ago at the Chartered Institute of Bankers of Nigeria (CIBN) 50th-anniversary, assuring stability for the Naira, fluctuations have persisted in the FX market since the CBN floated the country’s currency on June 14.<\/p>\n","protected":false},"excerpt":{"rendered":"
The Naira kicked off the week on a positive note, showing appreciation against the US dollar at the official foreign exchange market last Friday. Official data from FMDQ revealed that the Naira strengthened to N864.29\/1$ from N1,099.05\/$1 on Friday, marking a notable N234.76 gain in the local market. FMDQ, a financial market infrastructure group serving […]<\/p>\n","protected":false},"author":14,"featured_media":10584,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[173],"tags":[],"class_list":["post-10568","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business"],"aioseo_notices":[],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/10568","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/users\/14"}],"replies":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/comments?post=10568"}],"version-history":[{"count":3,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/10568\/revisions"}],"predecessor-version":[{"id":10610,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/10568\/revisions\/10610"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/media\/10584"}],"wp:attachment":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/media?parent=10568"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/categories?post=10568"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/tags?post=10568"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}