Exchange Rates: N465/$, N545/Euro, N600/£ in black market



Nigeria currency, Naira was traded at N465 per dollar, N545 per Euro and N600 per Pound in black market yesterday.

While Naira depreciated by 25 kobo in Investors and Exporters (I&E) window.

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

The volume of dollars (turnover) traded in the window fell by 37 percent to  $75.83 million from  $120.51 million on Tuesday.

However, the naira yesterday appreciated by five naira in the parallel market.

According to  abokiFX, the parallel market exchange rate dropped to N465  per dollar from N470 per dollar  on Tuesday, indicating  five naira appreciation of the naira.


Nigeria Black Market Review

British Pound Sterling was traded at ₦600 in Black Market on September 30, 2020. Pound started this week at ₦600 in Black Market on Monday, September 28, 2020. This makes no change for Pound rate against Naira this week.

To have a monthly quick review, we see that Pound to Naira exchange rate was ₦590 on Tuesday, September 01, 2020 at the beginning of September. As at today with Pound being traded at ₦600, we see a %1.69 increase for GBP to Naira exchange rates for this September.

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