• About Us
  • Advertise
  • Contact Us
  • Privacy Policy
Sunday, June 1, 2025
NewsOnline Nigeria
  • Headlines
  • Top Stories
  • Politics
  • Crime Watch
  • Entertainment
  • Sports
No Result
View All Result
  • Headlines
  • Top Stories
  • Politics
  • Crime Watch
  • Entertainment
  • Sports
No Result
View All Result
NewsOnline Nigeria
No Result
View All Result
  • Headlines
  • Top Stories
  • Politics
  • Crime Watch
  • Entertainment
  • Sports
Home Exchange Rates

Naira To Dollar Rate Falls Below N800 In Official Market, BDCs Raise Prices Of USD, Pound, Euro

Regardless of the prices the foreign exchange traders were willing to transact, the authorised dealers sold $156.29 million worth of forex.

by NewsOnline Nigeria
July 19, 2023
in Exchange Rates, Top Stories
0
Naira

Naira

Naira to Dollar Rate has fallen below N800 in the official market as BDC operators have raised the prices of USD, Pound, and Euro.

 

Newsonline Nigeria reports that the official market dollar rate on Tuesday was N742.93 kobo/$1 by the end of the session, which is below the N795.28 kobo posted on Monday.

 

This means authorised dealers in the Investors’ and Exporters’ window were willing to drop the price of the United States Dollar by N52.35 kobo.

 

 

But before they did, the rate of the official market’s authorised dealers peaked at N831/$1 and also hit a low of N707.99 kobo/$1.

 

Regardless of the prices the foreign exchange traders were willing to transact, the authorised dealers sold $156.29 million worth of forex.

 

They increased foreign exchange supply by $121.74 million or 352.35 per cent, considering the day before, the forex traders in the official market had traded $34.55 million.

As the official market dollar rate fell farther below the N800 mark, the black market continued to rise above it, opening N67.07 gap between both markets.

 

This Nigeria News platform gathered that the parallel market, monitored by Naira Rates, exchanged the United States Dollar at an average rate of N810/$1.

 

The Bureau De Change window rate inched higher by N5.2 kobo from the N804.8 kobo/$1 the American greenback was offered the preceding day. 

 

 

A steep price was paid for the British currency, the pound, as it was exchanged at an average rate of N1075.4/£1. The previous day, the naira to pound rate was N1068.5/£1. 

Also, the European currency, the euro, became costlier in the black market, rising from the N916.1/€1 rate offered on Monday to N923.6/€1.

Previous Post

APC Debunks President Tinubu’s Phone Call With CJN Ariwoola

Next Post

CBN Official Naira To Foreign Exchange Rate Today, 19 July 2023

Next Post
Naira

CBN Official Naira To Foreign Exchange Rate Today, 19 July 2023

NEWSONLINE NIGERIA

Get the Latest Naija News, Breaking News, Top Stories, World News, Business, Politics & Entertainment from NewsOnline Nigeria.

RELEVANT PAGES

  • About Us
  • Advertise
  • Contact Us
  • Privacy Policy

ALERT US

Important Press Releases, Special Investigations: admin@newsonlineng.com

OFFICE ADDRESS

13 Poland Street, London, United Kingdom (UK)

+447743746184 WHATSAPP ONLY

Copyright © 2025 NewsOnline Nigeria

No Result
View All Result
  • Headlines
  • Top Stories
  • Politics
  • Crime Watch
  • Entertainment
  • Sports

Copyright © 2023 Newsonline Nigeria