Dollar hits a peak of N810 in official window, parallel traders keep rate above N1000

2 Min Read

The dollar rate in the investors’ and exporters’ window hit N810.78/$1 on Thursday, the highest rate for the day, and also fell to a low of N590/$1.

But FMDQ Exchange, the official window aggregator, said the dollar rate eventually closed at N775.31/$1. This is above the N755.08/$1 rate reported on Tuesday.

On Wednesday, the foreign exchange market was not opened due to the public holiday to celebrate the Muslim holiday, Eid el-Maulud.

At the end of trading in the investors’ and exporters’ window, authorised dealers and their clients traded $144.55 million in foreign exchange.

READ ALSO:Forex dealers hike dollar rate in official window, black market

In the parallel market, the bureau de change operators demanded an average rate of N1008 per dollar, increasing their asking price slightly from N1000.

This was disclosed by AbokiFX, a black market aggregator, which also said that the pound rate rose by N5 to close trading at N1270/£1, above Tuesday’s N1265/£1.

At the end of trading in the parallel market, the street traders also increased their asking price for the euro, as the European currency costs buyers N1060/€1, up from N1055/€1.

Join the conversation


Support Ripples Nigeria, hold up solutions journalism

Balanced, fearless journalism driven by data comes at huge financial costs.

As a media platform, we hold leadership accountable and will not trade the right to press freedom and free speech for a piece of cake.

If you like what we do, and are ready to uphold solutions journalism, kindly donate to the Ripples Nigeria cause.

Your support would help to ensure that citizens and institutions continue to have free access to credible and reliable information for societal development.

Donate Now

Share this Article
Leave a comment

Leave a Reply

Your email address will not be published. Required fields are marked *