{"id":44387,"date":"2021-06-02T14:50:15","date_gmt":"2021-06-02T14:50:15","guid":{"rendered":"http:\/\/watchdogplusmedia.com\/?p=44387"},"modified":"2021-06-02T14:50:15","modified_gmt":"2021-06-02T14:50:15","slug":"one-british-pound-exchanges-for-n700-as-naira-moves-towards-500-per-dollar","status":"publish","type":"post","link":"https:\/\/watchdogplusmedia.com\/?p=44387","title":{"rendered":"One British pound exchanges for N700, as Naira moves towards 500 per dollar"},"content":{"rendered":"\n
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On Tuesday, the naira took a significant battering, falling to new lows against the British pound, Euro and U.S dollar in the black market.<\/p>\n\n\n\n

Data from Abokifx a website that tracks black-market rate in Lagos shows, that naira dropped considerably in value by N10 against the British pound, trading at N700\/\u00a31 as opposed to N690\/\u00a31 on Monday.<\/p>\n\n\n\n

The crashing of the domestic currency against the Pound Sterling reinforces traders\u2019 concerns about FX liquidity.<\/p>\n\n\n\n

Similarly, The Nigerian Naira<\/a> lost N1 against the Euro, selling at N596\/\u20ac1 compared with N595\/\u20ac1 of the previous session.<\/p>\n\n\n\n

The US Dollar at the parallel market on Monday closed at N498\/$1 this represents a 0.61 per cent depreciation from N495\/$1 the rate, it exchanged hands in the last three consecutive sessions.<\/p>\n\n\n\n

There are speculations it might hit N500\/$1 in the coming days.<\/p>\n\n\n\n

However, at the Investors and Exporters\u2019 (I&E) window, the Naira also traded flat against the greenback yesterday, selling at N412\/$1, the same rate it traded in the previous session on Monday.<\/p>\n\n\n\n

Data posted on the FMDQ Security Exchange showed that the turnover for the day dropped further by 22.74 percent, with $96.91 million posted as against $125.44 million posted in the previous session on Monday.<\/p>\n\n\n\n

Market participants bid for the currency at N420.33 and N400.00 before closing at N412.<\/p>\n\n\n\n

At the end of the trading, the spread between the official and unofficial exchange rate for dollars stood at N86.<\/p>\n","protected":false},"excerpt":{"rendered":"

On Tuesday, the naira took a significant battering, falling to new lows against the British pound, Euro and U.S dollar in the black market. Data from Abokifx a website that tracks black-market rate in Lagos shows, that naira dropped considerably in value by N10 against the British pound, trading at N700\/\u00a31 as opposed to N690\/\u00a31 […]<\/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":"","_mi_skip_tracking":false},"categories":[21],"tags":[],"yoast_head":"\nOne British pound exchanges for N700, as Naira moves towards 500 per dollar » 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=44387\" \/>\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=44387#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\":\"One British pound exchanges for N700, as Naira moves towards 500 per dollar\"}]}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"One British pound exchanges for N700, as Naira moves towards 500 per dollar » 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=44387","author":"Odofin","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"BreadcrumbList","@id":"https:\/\/watchdogplusmedia.com\/?p=44387#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":"One British pound exchanges for N700, as Naira moves towards 500 per dollar"}]}]}},"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":"On Tuesday, the naira took a significant battering, falling to new lows against the British pound, Euro and U.S dollar in the black market. Data from Abokifx a website that tracks black-market rate in Lagos shows, that naira dropped considerably in value by N10 against the British pound, trading at N700\/\u00a31 as opposed to N690\/\u00a31…","_links":{"self":[{"href":"https:\/\/watchdogplusmedia.com\/index.php?rest_route=\/wp\/v2\/posts\/44387"}],"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=44387"}],"version-history":[{"count":-4,"href":"https:\/\/watchdogplusmedia.com\/index.php?rest_route=\/wp\/v2\/posts\/44387\/revisions"}],"wp:attachment":[{"href":"https:\/\/watchdogplusmedia.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=44387"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/watchdogplusmedia.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=44387"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/watchdogplusmedia.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=44387"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}