Dollar sells for N850 in black market, falls in official window

The dollar sold for N850 in the black market on Thursday.

A Bureau De Change operator in the Ogba, area of Lagos State told Ripples Nigeria he sold one dollar for N860 on Wednesday.

Also, in the Investors and Exporters window, which is the official foreign exchange market, the Naira appreciated against the dollar by 0.09 percent on Wednesday.

Traders exchanged a dollar for naira at the rate of N445.67/$1 at the close of trading, below the N446.10/$1 both currencies traded on Tuesday.

READ ALSO: Naira/Dollar exchange rate drops by N100 in black market

On the same day, traders in the official market recorded transactions worth $93.01 million.

This surpassed the $72.69 million posted on Tuesday.

Meanwhile, the exchange rate between the dollar and Naira in the Central Bank of Nigeria-backed forex market was N445.5/$1 on Monday.

Also, transactions worth $206.25 million were recorded on the same day.

Join the conversation

Opinions

Support Ripples Nigeria, hold up solutions journalism

Balanced, fearless journalism driven by data comes at huge financial costs.

As a media platform, we hold leadership accountable and will not trade the right to press freedom and free speech for a piece of cake.

If you like what we do, and are ready to uphold solutions journalism, kindly donate to the Ripples Nigeria cause.

Your support would help to ensure that citizens and institutions continue to have free access to credible and reliable information for societal development.

Donate Now