Exchange Rate Update: Wednesday 17 November,2021

According to the data at the FMDQ Security Exchange where forex is traded officially, exchange rate between the naira and the US dollar opened at ₦413.74/$1 on Wednesday 17, after it closed at ₦415.10 to a $1 on Tuesday, 16 November 2021.

Also, at the Parallel Market (Black Market) on Wednesday,  dealers in Ikeja Lagos, said the local currency exchanges at N535/$1.

Similarly, the Central Bank of Nigeria (CBN) has not updated its currency rates  on Tuesday and Wednesday  as at the time of publishing this currency update.

But, the apex bank displayed an exchange rate of N411.43/$1 on Monday compared to N411.42/$1 displayed on Friday November 15,2021.

The CBN did not display the rates for the British Pound Sterling as of  Monday and Tuesday after the apex bank had display N551.3028/£1 on Friday compared to

N551.2215/£1 displayed on Thursday

Chimara Bygold

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