Dollar rate rises in black market, official window

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On Thursday, the official market Dollar rate was N463.67 kobo/$1, indicating the Naira shed some value to the American greenback.

Ripples Nigeria noted the Dollar increased in price by N0.34 kobo, considering the foreign exchange rate between the Dollar and the Naira was N463.33 kobo/$1 on Wednesday.

This was revealed by FMDQ Securities Exchange in a foreign exchange data, which also disclosed that at some point during trading, the Dollar rate peaked at N467/$1, and traded lowest at N460/$1.

By the end of trade, investors and exporters had recorded $157.56 million in foreign exchange transactions, the data showed.

The day before, traders in the official market had transacted $77 million worth of foreign exchange, which is $80.56 million or 104.62 per cent lower than the forex traded on Thursday.

READ ALSO:Dollar rate up in official window, drops in black market

According to the Central Bank of Nigeria (CBN), the British Pound rate closed Thursday’s trading with N571.3/£1, up from the previous day’s N571.6/£1.

The CBN reported that the Euro was traded at N497.02/€1 yesterday, slightly below the N497.2 kobo the currency traded on Wednesday.

Meanwhile, the black market Dollar rate was placed around N760.87/$1 on Thursday, as the cost of the United States currency went up by N4.02.

The rate of the foreign currency was put at N756.85 kobo/$1 during trading in the Bureau De Change window of the parallel market the previous day.

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