{"id":28119,"date":"2020-08-20T13:43:39","date_gmt":"2020-08-20T13:43:39","guid":{"rendered":"http:\/\/watchdogplusmedia.com\/?p=28119"},"modified":"2020-08-20T13:43:45","modified_gmt":"2020-08-20T13:43:45","slug":"naira-gains-against-the-dollar-on-black-market-as-fx-turnover-rises-by-1133","status":"publish","type":"post","link":"https:\/\/watchdogplusmedia.com\/?p=28119","title":{"rendered":"Naira gains against the dollar on black market as fx turnover rises by 1133%"},"content":{"rendered":"\n
\"NFIU<\/figure>\n\n\n\n

Naira appreciated against the United States dollar on the black market on Wednesday, exchanging for N477\/$1. The exchange rate at the previous session had stood at N480 to a dollar according to AbokiFx, which collates rates from various street traders.<\/p>\n\n\n\n

Foreign exchange turnover at the over-the-counter spot market, also known as the Investors and Exporters (I&E) window, jumped to $227.29 million, the biggest single-day volume in more than two months.<\/p>\n\n\n\n

The turnover translated to a 1132.6% increase over the $18.44 million turnover of the previous trading session.<\/p>\n\n\n\n

However, the naira<\/a> depreciated against the dollar at the I&E window to N386, 2 kobo weaker than the N385.98 reported on Tuesday. The greenback touched an intraday high of N386 and a low of N380.<\/p>\n\n\n\n

The opening indicative rate was N386.34 to a dollar, representing a 31 kobo drop relative to the N386.03 to a dollar recorded at the session before.<\/p>\n\n\n\n

Last week, the average daily forex sale was around $24 million, representing a substantial fall from $50.6 million that was recorded the previous week.<\/p>\n\n\n\n

The Wednesday turnover marked the first time trade volume at the I&E window would hit $200 million since January.<\/p>\n","protected":false},"excerpt":{"rendered":"

Naira appreciated against the United States dollar on the black market on Wednesday, exchanging for N477\/$1. The exchange rate at the previous session had stood at N480 to a dollar according to AbokiFx, which collates rates from various street traders. Foreign exchange turnover at the over-the-counter spot market, also known as the Investors and Exporters […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_seopress_robots_primary_cat":"none","_mi_skip_tracking":false},"categories":[21],"tags":[],"yoast_head":"\nNaira gains against the dollar on black market as fx turnover rises by 1133% » WatchDog Plus Media<\/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:\/\/watchdogplusmedia.com\/?p=28119\" \/>\n<meta name=\"author\" content=\"Odofin\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/watchdogplusmedia.com\/?p=28119#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/watchdogplusmedia.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Economy\",\"item\":\"https:\/\/watchdogplusmedia.com\/?cat=21\"},{\"@type\":\"ListItem\",\"position\":3,\"name\":\"Naira gains against the dollar on black market as fx turnover rises by 1133%\"}]}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Naira gains against the dollar on black market as fx turnover rises by 1133% » WatchDog Plus Media","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/watchdogplusmedia.com\/?p=28119","author":"Odofin","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"BreadcrumbList","@id":"https:\/\/watchdogplusmedia.com\/?p=28119#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/watchdogplusmedia.com\/"},{"@type":"ListItem","position":2,"name":"Economy","item":"https:\/\/watchdogplusmedia.com\/?cat=21"},{"@type":"ListItem","position":3,"name":"Naira gains against the dollar on black market as fx turnover rises by 1133%"}]}]}},"rttpg_featured_image_url":null,"rttpg_author":{"display_name":"Odofin","author_link":"https:\/\/watchdogplusmedia.com\/?author=2"},"rttpg_comment":0,"rttpg_category":"<a href=\"https:\/\/watchdogplusmedia.com\/?cat=21\" rel=\"category\">Economy<\/a>","rttpg_excerpt":"Naira appreciated against the United States dollar on the black market on Wednesday, exchanging for N477\/$1. The exchange rate at the previous session had stood at N480 to a dollar according to AbokiFx, which collates rates from various street traders. Foreign exchange turnover at the over-the-counter spot market, also known as the Investors and Exporters…","_links":{"self":[{"href":"https:\/\/watchdogplusmedia.com\/index.php?rest_route=\/wp\/v2\/posts\/28119"}],"collection":[{"href":"https:\/\/watchdogplusmedia.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/watchdogplusmedia.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/watchdogplusmedia.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/watchdogplusmedia.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=28119"}],"version-history":[{"count":-4,"href":"https:\/\/watchdogplusmedia.com\/index.php?rest_route=\/wp\/v2\/posts\/28119\/revisions"}],"wp:attachment":[{"href":"https:\/\/watchdogplusmedia.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=28119"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/watchdogplusmedia.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=28119"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/watchdogplusmedia.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=28119"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}