{"id":7640,"date":"2023-11-23T11:31:15","date_gmt":"2023-11-23T11:31:15","guid":{"rendered":"https:\/\/abujacityjournal.com\/livenews\/?p=7640"},"modified":"2023-11-23T11:31:30","modified_gmt":"2023-11-23T11:31:30","slug":"nigerias-naira-depreciates-again-hits-n840-53-against-the-dollar","status":"publish","type":"post","link":"https:\/\/abujacityjournal.com\/livenews\/2023\/11\/23\/nigerias-naira-depreciates-again-hits-n840-53-against-the-dollar\/","title":{"rendered":"Naira Depreciates Again, Hits N840.53 Against the Dollar"},"content":{"rendered":"<p>Nigeria&#8217;s currency, the naira, faced further depreciation against the US dollar on Wednesday, as indicated by official data from FMDQ. The exchange rate closed at N840.53 compared to N830.97 the previous day, reflecting a N9.56 depreciation. This marks the second decline in the official FX market within a week. Simultaneously, at the Parallel Market, the naira traded at N1,150\/$1 on Wednesday, up from N1,130\/$1 on Tuesday.<\/p>\n<p>Despite the currency challenges, Nigeria witnessed a 61.86% increase in forex turnover, reaching $198.21 million. Notably, the Central Bank of Nigeria (CBN) Governor, Dr Olayemi Cardoso, did not convene a Monetary Policy Committee meeting for the second time in two months.<\/p>\n<p>The fluctuation in the naira&#8217;s value has been a recurring theme since the CBN implemented reforms in June of the current year. These developments underscore the ongoing economic challenges and the need for careful monitoring of the foreign exchange market.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Nigeria&#8217;s currency, the naira, faced further depreciation against the US dollar on Wednesday, as indicated by official data from FMDQ. The exchange rate closed at N840.53 compared to N830.97 the previous day, reflecting a N9.56 depreciation. This marks the second decline in the official FX market within a week. Simultaneously, at the Parallel Market, the [&hellip;]<\/p>\n","protected":false},"author":19,"featured_media":7642,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[172],"tags":[],"class_list":["post-7640","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"aioseo_notices":[],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/7640","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\/19"}],"replies":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/comments?post=7640"}],"version-history":[{"count":3,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/7640\/revisions"}],"predecessor-version":[{"id":7683,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/7640\/revisions\/7683"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/media\/7642"}],"wp:attachment":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/media?parent=7640"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/categories?post=7640"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/tags?post=7640"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}