Chimara Bygold
DATA obtained from the FMDQ Security Exchange where forex is traded officially has shown that the exchange rate between the naira and US dollar opened on Wednesday, November 3, 2021, at N413.76/$1.
The Naira fell against the US dollar to close at N415.07/$1 on Tuesday 2nd November 2021, representing a 0.02per cent depreciation compared to N414.98/$1 recorded at the close of trading activities on Monday.
Join our WhatsApp ChannelOn the other hand, at the Parallel Market (Black Market) on Wednesday, dealers said the Naira exchanges for N572 to the US dollar.
Today marks a halt to consecutive two-day stability in this market segment, as it recorded the same N570/$1 at the close of trading activities on Monday and Tuesday, 1st and 2nd November 2021.
This is according to information obtained by Prime Business Africa from currency dealers at the NARCO wing of the Murtala Muhammad International Airport, Ikeja Lagos.
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In the same vein, the Central Bank of Nigeria ( CBN) has not updated its rates for Wednesday as at the time of publishing this currency update. However, information on the apex bank’s website showed N411.21/$1 as at November 2, 2021.
The CBN also displayed the British Pound Sterling as of Tuesday at N561.6306/£1.
