Dollar Sells At N776/$1 In I&E Window, USD Price Changes In Black Market

Dollar sold at N776/$1 in the I&E Window as the USD Price changed in the black market window.

 

Newsonline Nigeria reports that the Investors’ and exporters’ window recorded N776.50/$1 as the closing exchange rate between the naira and the United States Dollar on Thursday.

 

This Nigeria News platform understands that the exchange rate between both currencies was raised by N34.86 kobo from the N741.64/$1 rate reported at the end of trading in the official market on Wednesday. 

According to a report obtained from FMDQ Exchange, the official market aggregator, the price of the dollar hit a peak of N804/$1 and a low of N700/$1. 

 

At the end of the session, over $44.43 million in foreign exchange was transacted by investors and exporters in the official window. 

 

Newsonline Nigeria previously reported that the foreign exchange traders had transacted $134.12 million the day before, indicating the value of forex transacted dropped by 66.87 per cent or $89.69 million. 

Meanwhile, in the black market, the average rate of the dollar according to Naira Rates, a parallel market aggregator, was N872.8/$1. 

 

The value of the United States currency was raised by N7.5 kobo in the Bureau De Change window from the average rate of N865.3/$1 posted the previous. 

 

Also, the pound was offered at an average rate of N1131.8/£1 in the black market, rising from the N1122.1/£1 rate reported on Wednesday. 

The naira also fell against the euro in the black market, as it cost N972.7/€1 in the Bureau De Change window compared to the preceding day’s N964.3/€1 rate.