Suggestions




·

Black Market Traders Exchange Dollar At N1,382/$, Official USD Rate Rises By N14

March 2, 2026
by
Official Market Records Decline In Dollar Rate, Trade Flat In Black Market
Official Market Records Decline In Dollar Rate, Trade Flat In Black Market. Photo Credit: Premium Times Nigeria

The foreign exchange (FX) rate for the United States dollar (USD) was relatively stable in the black market on Monday, March 2, as the American greenback traded at N1,382.52 kobo per $1.

According to Naira Rates, the black market aggregator, the USD rate was similar to the N1,382.76 kobo per $1 recorded on Friday, February 27.

Join our WhatsApp Channel

In the Nigerian foreign exchange market (NFEM), the official dollar rate was N1,378.02 per USD, compared to the N1,363.39 kobo per $1 reported on Friday.

The official NFEM rate increased by N14.63 kobo, indicating the naira depreciated by 1.07 percent.

However, the dollar rate closed at N1,376 per USD, after trading as high as N1,397 per dollar and as low as N1,368.5 kobo per $1, according to the official market data provided by the Central Bank of Nigeria (CBN).

Additionally, the pound traded flat at N1,909.99 kobo per £1 in the parallel market, while the British currency exchanged at N1,845.46 kobo per £1 in the NFEM, compared to the N1,835.82 kobo per £1 recorded on Friday.

The foreign exchange rate for the pound had increased by N9.64 kobo in the NFEM, also known as the official window, indicating the naira depreciated by 0.52 percent.

Also, in the black market, the euro traded upward to N1,659.99 kobo per €1, above the N1,652 per €1 reported on Friday, representing a N7.99 kobo increase.

In the official window, the euro exchanged at N1,612.39 kobo per €1, compared to Friday’s N1,608.62 kobo per €1, as the value of the naira depreciated by N3.77 kobo or 0.23 percent.

For press releases, tip-offs, and corporate information, call 08149575257 (hotline), email: editor@primebusiness.africa and publisher@primebusiness.africa

+ posts

Prime Business Africa

Leave a Reply

Your email address will not be published.

Related Posts

Previous Story

Terra Industries Reappoints Nnamdi Chife to Drive Military Strategy as Defence Partnerships Scale

Featured Stories

Related Posts

Latest from Business

Nigerian Stock Market Record Highest Level In 15-years, Equity Cap Up N59.90bn

NGX Market Cap Rises To N125.48trn — Up By N1.72trn

On Monday, March 2, the Nigerian Exchange (NGX) recorded a N1.72 trillion increase in its market capitalisation, which rose to N125.48 trillion from N123.76 trillion on Friday, February 27. The market capitalisation increased by 1.39 percent after the all-share index (ASI) expanded
Dangote Cement

Dangote Cement Records 20% Increase in 2025 Revenue

Dangote Cement Plc reported a 20.3 percent rise in revenue to 4.31 trillion naira ($2.7 billion) for the year ending Dec. 31, 2025, driven by higher prices in key markets, the company said in a filing to the Nigerian Exchange Limited. The
Previous Story

Terra Industries Reappoints Nnamdi Chife to Drive Military Strategy as Defence Partnerships Scale

Don't Miss

Akwa Ibom Economy And The Booming Construction Industry

Ten Town Halls And Three Summits: A Midterm Agenda For Gov Eno

With just five months to hit his midterm, Akwa Ibom
How Police, Politicians Account For Almost 70% of Civic Infringements In Nigeria- Report

How Police, Politicians Account For Almost 70% of Civic Infringements In Nigeria- Report

Police and Politicians: The Core Perpetrators of Civic Rights Violations