Exchange Rate: Naira depreciates to N470/$, N545/Euro, N600/£

 


THE Nigeria currency, naira yesterday depreciated to N470 per dollar, N545 per Euro and N600 per British Pounds Sterling in the parallel market. 

According to  abokiFX, the parallel market exchange rate rose to N470  per dollar from N467 per dollar  on Monday, indicating  three naira depreciation of the naira.

However, the naira yesterday appreciated to N385.75 per dollar  in Investors and Exporters (I&E) window.

Data from FMDQ showed that the indicative exchange rate for the window dropped to N385.75 per dollar from N386 per dollar on Monday, translating to 25 kobo appreciation of the naira.

The volume of dollars (turnover) traded in the window fell by 10 percent to  $120.51million from  $133.73 million on Monday.

Pound is being traded at N600 in Black Market yesterday, September 29, 2020. Pound has been traded at ?600 when Black Market opened this week on Monday, September 28, 2020. This equals to no rise for GBP to Naira exchange rate for this week so far. While Euro currency was traded at N545 per Euro.

To have a monthly quick review, Pound Sterling was traded at N590 at the beginning of September on Tuesday, September 01, 2020. As of yesterday, Pound was traded at ?600, we see a %1.69 increase for Pound to Naira exchange rates for this September.

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