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Dollar Appreciates In Black Market, Official Window

March 3, 2026
by
Naira Appreciates, Ends Week Positive Across Official, Black Markets

The foreign exchange (FX) rate for the United States dollar (USD) increased to N1,387.77 kobo per $1 on Tuesday, March 3, in the black market, surpassing the N1,382.52 kobo per $1 recorded on Monday, March 2.

Also, the pound FX rate was N1,889.99 kobo per £1 in the parallel market, according to the Naira Rates, the black market aggregator, compared to the previous day’s N1,909.99 kobo per £1.

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However, unlike the dollar and the pound, the euro traded flat at N1,659.99 kobo per €1 in the black market.

In the Nigerian foreign exchange market (NFEM), also known as the official window, the official dollar rate was N1,384.29 kobo per USD, compared to the N1,378.02 per USD reported the day before.

According to the NFEM data obtained from the Central Bank of Nigeria (CBN), the dollar’s highest rate during trading was N1,405/$1, while the lowest rate was N1,370 per USD, before closing at N1,390 per $1.

In addition, the pound exchanged at N1,841.55 kobo per £1 in the official market, falling below the N1,845.46 kobo per £1 recorded the previous day.

However, the FX rate for the euro in the NFEM increased from N1,612.39 kobo per €1 recorded on Monday to N1,605.61 kobo per €1 on Tuesday.

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

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