Dollar Trades At N1,421/$, Pound Exchanges At N1,923/£ In Official Market

The foreign exchange (FX) rate of the United States dollar (USD) increased marginally to N1,421.9 kobo per $1 on Friday, January 23, in the Nigerian foreign exchange market (NFEM), also known as the official window.

It was gathered that the exchange rate increased by N0.4 kobo from the N1,421.5 kobo per dollar reported on Thursday, January 22, representing a 0.02 percent decline in the value of the naira.

Also, during trading, the American greenback traded as high as N1,423.5 per USD in the official window, and exchanged at a low of N1,420 per $1 before closing at N1,421.9 kobo per dollar.

According to the official widow data obtained from the Central Bank of Nigeria (CBN), the exchange rate for the pound increased to N1,923.49 kobo per £1.

The rate for the British currency increased by N15.61 kobo from the N1,907.88 kobo per £1 recorded the previous day, indicating the Nigerian currency depreciated by 0.81 percent.

Also, the apex bank disclosed that the euro’s exchange rate increased by N3.61 kobo to N1,668.97 kobo per €1 in the Nigerian foreign exchange market.

During trading the previous day, the European currency had traded at N1,665.36 kobo per €1, reflecting the naira depreciated by 0.21 percent against the euro.

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  McNichols’ Second Majority Investor Gradually Exiting Company
• Prime Business Africa

  Conoil, Legend Internet, Others Wipe Off N47.97bn From Stock Market Cap
• Prime Business Africa

  Herbert Wigwe’s Investment In Access Holdings Drops To N110.45bn
• Prime Business Africa

  Access ARM Grows Profit To N4.33bn, Total Assets Increase By 131.48%
• Prime Business Africa

  Nigerian Stock Market Value Drops By N53.30bn
• Prime Business Africa

  Is Olakunle Ade-Ojo Planning To Takeover Custodian Investment As Majority Shareholder?
• Prime Business Africa

  Linkage Assurance Records N6bn Revenue, Tax Burden Affects Profit Growth
• Prime Business Africa

  Honeywell Flour Makes Stock Market Gainers’ List, Academy Tops Losers
• Prime Business Africa

  Neimeth Suffers N2bn FX Loss, Records 50% Decline In Loss After Tax
• Prime Business Africa

  Tony Elumelu Increases Stake In UBA With N1.54bn Shares
• Prime Business Africa

  Nigerian Stock Market Cap Gains N1.08trn In Five Hours
• Prime Business Africa

  Meyer Spent N678m On Paint Production To Generate N1bn Revenue In Q1
• Prime Business Africa

  Champion Brew’s Majority Shareholder Sells Off 350m Shares, Profits From Bullish Run