Business
Naira appreciates against Dollar, drops against British Pounds
The price of the United States Dollar dropped by N18.82 kobo on Monday in the Investors’ and Exporters’ window of the official market, dropping to N756.94/$1 at the close of trading.
Recall that last Friday, both currencies closed at N775.76/$1, according to a report obtained from the official market forex rate aggregator, FMDQ Exchange.
Note that before the naira to dollar rate closed at N756.94/$1, clients were offered the United States currency at a high rate of N830/$1 and a low price of N651/$1.
Also, FMDQ disclosed that investors and exporters traded $67.21 million in foreign exchange, against the $54.18 million worth of forex reported on Friday.
READ ALSO: Naira in circulation rises by 88%, hits N2.60trn in June
Furthermore, Naira Rates, a black market aggregator, said the dollar rate in the parallel channel closed at N862.3/$1 on Monday, dropping slightly from N863.8/$1.
According to the aggregator, the British pound appreciated against the naira in the black market to settle at N1124.3/£1, up from N1119.2/£1.
However, the Nigerian currency gained against the European currency, the euro, after both currencies traded at an average rate of N963.6/€1, above Friday’s N959.5/€1 rate.
-
Latest6 days agoLagos NURTW organising secretary Toba Ajiboye dies after gunmen attack
-
Business1 week agoNCC chief highlights trust as key to Nigeria’s digital transformation
-
Aviation7 days agoNCAA, NAMA disagree over proposed revenue sharing formula
-
Business6 days agoNCC unveils cost-sharing framework to boost broadband rollout, end repeated road excavations
-
Maritime7 days agoLicensed port agents back FG’s Green Tax on imported vehicles
-
Business3 days agoCBN targets $12bn annual Diaspora inflows to boost FX liquidity
-
Politics7 days agoAjeromi: NDC vows even distribution of prosperity amongst Nigerians
-
Latest7 days agoAPC unveils Lagos Assembly candidates, leaves out 12 incumbent lawmakers