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.

Join our WhatsApp Channel

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

+ posts

Latest from Currency

BoU Warns Sovereignty Bill Could Trigger Currency Crisis, Capital Flight

Written by Amanze Chinonye Uganda’s central bank has raised alarm over the proposed Protection of Sovereignty Bill, 2026, warning lawmakers that its provisions could destabilise the economy, weaken the currency, and drive up inflation, Prime Business Africa reports. Governor Michael Atingi-Ego, who appeared

CBN Rate Cut Signals Growing Confidence in Nigeria’s Economy – FXTM

Written by Prosper Okoye Analysts say the recent interest rate cut by the Central Bank of Nigeria (CBN) points to improving confidence in Nigeria’s economic outlook, supported by easing inflation and stronger external reserves. Mathew Anthony, a market analyst at FXTM, said the

Why CBN Retained Bencmark Interest Rate At 27.5%

Central Bank Cuts Interest Rate to 26.5% as Inflation Eases

Written by Prosper Okoye The Central Bank of Nigeria has reduced its key interest rate to 26.5%, signalling growing confidence that inflation is beginning to slow. The decision, announced in Abuja by Governor Olayemi Cardoso, marks the first rate cut since November 2025.

CPPE Warns Nigeria’s $6bn Capital Inflow Surge May Be Fragile Despite Rebound

Written by Prosper Okoye Nigeria recorded a sharp increase in foreign capital inflows in the third quarter of 2025, but the Centre for the Promotion of Private Enterprise (CPPE) says the recovery may not be as strong as it appears. Capital importation rose

Nigeria Now Leading Cement Exporter In Africa – Dangote

Why Tinubu’s Policies Can Crash Dollar Rate – Dangote

Written by Prosper Okoye The Chairman of the Dangote Group, Aliko Dangote, has said that current government policies could significantly strengthen the naira against the US dollar, potentially bringing the exchange rate down to as low as ₦1,100 to $1. Dangote made the

Cookie	Duration	Description
cookielawinfo-checbox-analytics	11 months	This cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Analytics".
cookielawinfo-checbox-functional	11 months	The cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional".
cookielawinfo-checbox-others	11 months	This cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other.
cookielawinfo-checkbox-necessary	11 months	This cookie is set by GDPR Cookie Consent plugin. The cookies is used to store the user consent for the cookies in the category "Necessary".
cookielawinfo-checkbox-performance	11 months	This cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Performance".
viewed_cookie_policy	11 months	The cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. It does not store any personal data.

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.

Chimara Bygold

Chimara Bygold

AMCOW, AUC and the Government of Namibia to hold continental water and sanitation conference

Revealed: The Monetary Implications of Man United Re-signing CR7 As Red Devils Announce Financial Reports

Featured Stories

PISA 2025: East Asia Tops Global Math Rankings as OECD Scores Fall — What It Means for Africa’s Future Workforce

UBA Opens Subscription Channel for Dangote Refinery IPO, Invites Investors to Participate

Latest from Currency

BoU Warns Sovereignty Bill Could Trigger Currency Crisis, Capital Flight

CBN Rate Cut Signals Growing Confidence in Nigeria’s Economy – FXTM

Central Bank Cuts Interest Rate to 26.5% as Inflation Eases

CPPE Warns Nigeria’s $6bn Capital Inflow Surge May Be Fragile Despite Rebound

Why Tinubu’s Policies Can Crash Dollar Rate – Dangote

AMCOW, AUC and the Government of Namibia to hold continental water and sanitation conference

Revealed: The Monetary Implications of Man United Re-signing CR7 As Red Devils Announce Financial Reports

Ruto, Dangote Discuss Financing for $17 Billion Kenya Refinery Project

Suggestions

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.

AMCOW, AUC and the Government of Namibia to hold continental water and sanitation conference

Revealed: The Monetary Implications of Man United Re-signing CR7 As Red Devils Announce Financial Reports

Featured Stories

Latest from Currency

AMCOW, AUC and the Government of Namibia to hold continental water and sanitation conference

Revealed: The Monetary Implications of Man United Re-signing CR7 As Red Devils Announce Financial Reports

Don't Miss