Naira
NewsOnline reports that the Naira fell against the dollar at the investors’ and exporters’ window on Thursday, trading at N461.67.
This online newspaper understands that the rate represented a 0.04 percent decrease from the N461.50 it exchanged for against the dollar on Wednesday.
On Thursday, the open indicative rate was N461.25 to the dollar.
The highest rate recorded during the day’s trading was N462.50 to the dollar before it settled at N461.67.
The Naira sold for as low as N460 to the dollar within the day’s trading.
A total of 80.03 million dollars was traded at the official investors’ and exporters’ window.
The local currency opened at N750.00 per $1 at the parallel market otherwise known as the black market, today, Friday, 24 March 2023, in Lagos Nigeria, after it closed at N750.00 per $1 on Thursday, 23 March 2023.
Even though the dollar to naira opened in the parallel market at ₦750 per $1 today, Newsonline reports that the Central Bank of Nigeria (CBN) does not recognise the parallel market, otherwise known as the black market. The apex bank has therefore directed anyone who requires forex to approach their bank, insisting that the I&E window is the only known exchange.
Newsonline Nigeria reports that at the black market, the players buy a dollar for N745 and sell for N750 on Friday morning, March 24, 2023, after they bought N745 and sold for N750 on Thursday, 23 March 2022.
Meanwhile, Newsonline Nigeria reports that the USD started this week at ₦750 in Parallel Market also known as Black Market on Monday, March 20, 2022, in Lagos Nigeria, after it opened at 750 last week Monday, March 13, 2023.
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