Connect with us

Business

Naira gains N1, exchanges at N485/$1

Published

on

Nigeria’s naira gained against the U.S. dollar at the unofficial market on Thursday.

The data posted by Abokifx showed that the naira closed at N485.00 at the black market, this represents a N1 appreciation from N486, the rate it exchanged on Wednesday.

However, at the Investors and Exporter window, the official exchanged market Naira remained unchanged from Wednesday.

According to FMDQ Security Exchange data, Naira closed at N410.00 on Thursday.

Read also: Naira gains at official market as oil price falls

Market participants during Thursday trading bid for dollar between N394.00 and N436.40 before closing at N410.

This happened as forex turnover rose by 169.23 percent, with $108.04 million recorded as against the $40.13 million on Wednesday.

At the end of trading on Thursday, the difference between the unofficial and the official market exchange rate dropped to $75

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

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

5 × two =

Investigations