ADVERTISEMENT
  • About Us
  • Advertise
  • Contact Us
  • Privacy Policy
Thursday, August 21, 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
ADVERTISEMENT
Home Exchange Rates

Official Market Traders Increase Dollar Rate To N702, Black Market USD, Pound Rates Drop

Naira Rates, a parallel rate aggregator, disclosed that the average rate at which the dollar was sold was N756.2/$1, which is lower than the N760.3/$1 rate the previous session.

by NewsOnline Nigeria
June 16, 2023
in Exchange Rates, Headline
0
Official Market Traders

Official Market Traders have increased Dollar Rate to N702 as Black Market USD and Pound Rates drop massively.

 

NewsOnline Nigeria reports that the official market dollar rate ended Thursday’s trading with N702.19/$1, up from the N664.04/$1 reported during the previous day’s session. 

 

According to the analysis of the official dollar rate provided by FMDQ Exchange, authorised dealers increased the cost of the United States currency by N38.15 kobo, indicating that the value of the naira fell by 5.74%.

 

Although, before the session ended, Prime Business Africa learnt that the naira had traded for the dollar at the highest rate of N791/$1 and also went as low as N461/$1, but eventually closed at N702.19/$1. 

 

FMDQ Exchange reported that in the investors and exporters window of the official market, a total of $70.74 million foreign exchange was transacted.

 

This fell below the $193.33 million transacted by foreign exchange traders the day before, reflecting $122.59 million or 63.4% drop in transactions. 

However, buyers of the United States currency in the black market recorded N4.1 kobo or 0.53% drop in the cost of the dollar on Thursday. 

 

NewsOnline reports that Naira Rates, a parallel rate aggregator, disclosed that the average rate at which the dollar was sold was N756.2/$1, which is lower than the N760.3/$1 rate the previous session.

 

Also, the pound depreciated to N971.4/£1, down by N4.6 kobo or 0.47% from N976/£1 buyers of the British currency paid the preceding day.

The story of the euro was not different, considering the European currency was sold at N834.4/€1 reported on Wednesday, but the average rate it went for the next day was N831.2/€1.

ADVERTISEMENT
Previous Post

BREAKING: Oil Marketers Accuse Mele Kyari NNPCL Of Massive Fraud

Next Post

Aliko Dangote, Abdulsamad Rabiu Lose $5.85 billion To Naira Devaluation

Next Post
Aliko Dangote

Aliko Dangote, Abdulsamad Rabiu Lose $5.85 billion To Naira Devaluation

Trending Stories

Rotimi

BREAKING: President Tinubu Gives Crucial Appointment To Rotimi

Watch Viral Sex Video of Anambra Married Woman

Watch Viral Sex Video Of Anambra Married Woman With Husband’s Best Friend

ACF

ACF Holds Southwest Zonal Meeting in Ogun, Reaffirms Commitment to Peace and Unity (PHOTOS)

Federal Hospitals

BREAKING: FG Names Federal Hospitals Where Dialysis Costs N12,000 (FULL LIST)

President Tinubu

BREAKING: President Tinubu Permanently Abolishes Telecom Tax

FCT Minister Wike

FCT Minister Wike Reveals Shocking Truth About How You Can Reach Tinubu

Fulani Herdsmen

BREAKING: Fulani Herdsmen Wreck Fresh Havoc in Benue State

Frank Caprio

BREAKING: World’s Nicest Judge, Frank Caprio Is Dead After Battling Cancer For Years

Dollar to Naira Black Market Exchange Rate Today

Dollar to Naira Black Market Exchange Rate Today, 20 August 2025

Wike

Wike Threatens to Derail PDP National Convention Over Location Dispute

Latest Stories

Wike

Wike Threatens to Derail PDP National Convention Over Location Dispute

Loan App Industry

FG New Digital Lending Rules Shake Up Nigeria’s Loan App Industry

Bright Ngene

INEC Declares Prison Inmate, Labour Party’s Bright Ngene Winner of Enugu Rerun Election

Frank Caprio

BREAKING: World’s Nicest Judge, Frank Caprio Is Dead After Battling Cancer For Years

JAMB

JAMB Reactivates Upload of 2025 WAEC Results for UTME Candidates

ADC

ADC Slams Proposed Salary Hike for Politicians, Calls Move an Insult to Nigerians

Federal Hospitals

BREAKING: FG Names Federal Hospitals Where Dialysis Costs N12,000 (FULL LIST)

TICAD9

President Tinubu Seeks $1 Billion Investment Into Nigeria at TICAD9

Fulani Herdsmen

BREAKING: Fulani Herdsmen Wreck Fresh Havoc in Benue State

Rotimi

BREAKING: President Tinubu Gives Crucial Appointment To Rotimi

ADVERTISEMENT

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)

Copyright © 2025 NewsOnline Nigeria

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

Copyright © 2023 Newsonline Nigeria