Suggestions




·

Naira Strengthens Against Dollar In Official Window, Black Market

March 13, 2026
by
Naira Falls Against Dollar In Black Market As Demand Increases In FX Market

The black market recorded N1,419.83 kobo per $1 as the foreign exchange (FX) rate for the United States dollar (USD) on Thursday, March 12.

The USD rate decreased by N6.17 kobo or 0.43 percent from the N1,426 per $1 recorded in the black market on Wednesday, March 11.

Join our WhatsApp Channel

Also, the pound depreciated in the black market, according to Naira Rates, the parallel market’s aggregator, which reported the British currency traded at N1,949.99 kobo per £1 on Thursday.

During trading the day before, the pound had exchanged at N1,926.14 kobo per £1, indicating the British currency depreciated by N23.85 kobo or 1.23 percent.

In the same vein, the naira appreciated against the euro in the parallel market, with both currencies trading at N1,684.99 kobo per €1, below Wednesday’s N1,647.7 kobo per €1.

This represents a decline of N37.29 kobo in the FX rate for the euro, and a 2.26 percent appreciation in the value of the naira.

In the Nigerian foreign exchange market (NFEM), the Central Bank of Nigeria (CBN) said the official dollar rate for Thursday was N1,371.50 kobo per $1.

According to the CBN’s data on the NFEM, also known as the official window, the dollar rate decreased by N4.69 kobo or 0.34 percent from the N1,376.19 kobo per USD reported on Wednesday.

Also, the data showed that the value of the dollar rose as high as N1,390 per USD, and as low as N1,362 per $1, but eventually settled at N1,370 per USD.

The NFEM FX rate tracker also reported that the pound depreciated against the naira, as the FX rate for the British currency dropped by N10.67 kobo or 0.57 percent to N1,834.13 kobo per £1, from N1,844.80 kobo per £1.

In the official window data, it was gathered that the FX rate for the euro dropped to N1,581.31 kobo per €1 on Thursday, below the N1,594.01 per €1 recorded on Wednesday.

This indicates the naira became stronger by 0.79 percent against the euro, while the FX rate for the European currency declined by N12.7 kobo

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Your email address will not be published.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

Police Launch Investigation After Comedian Broda Shaggi Suffers Gunshot Injury During Skit Filming

Next Story

Investigation Reveals 23 Damaged Components on Arik Air Flight

Featured Stories

Related Posts

Latest from Business

Tinubu Constitutes Taskforce to Revamp Petroleum Industry

President Bola Tinubu has inaugurated a Presidential Petroleum Reform and Value Optimisation Taskforce to plan the next stage of reforms in Nigeria’s petroleum sector. Mr Fola Adeola, co-founder of Guaranty Trust Bank and founder of the Fate Foundation, was appointed chairman of

Investigation Reveals 23 Damaged Components on Arik Air Flight

Nigeria’s air accident investigators said a passenger aircraft operated by Arik Air suffered damage to at least 23 components after an abnormal engine incident during a flight in February. In a preliminary report released on Friday, the Nigerian Safety Investigation Bureau said
Why CBN Retained Bencmark Interest Rate At 27.5%

CBN Directs Banks to Deny Debtors New Loans

Central Bank of Nigeria has directed commercial banks to deny additional credit and certain banking services to large borrowers with non-performing loans, in a move aimed at strengthening credit discipline and reducing financial risks in the banking system. In a letter dated March 12,
Bulls Charge Ahead As NGX Shatters Records As Market Cap Surpasses N50trn

RT Briscoe Tops NGX Losers’ List, Guinness Among Gainers

The market capitalisation of the Nigerian Exchange (NGX) was N127.36 trillion on Friday, March 13, while the all-share index (ASI) closed at 198,407.3 ASI. Equity investors traded 591.04 million shares in 53,066 deals, valued at N35 billion on Friday.Join our WhatsApp Channel
Previous Story

Police Launch Investigation After Comedian Broda Shaggi Suffers Gunshot Injury During Skit Filming

Next Story

Investigation Reveals 23 Damaged Components on Arik Air Flight

Don't Miss

super falcons continue shape up ahead brazil clash Thursday

Super Falcons Friendly Against Cameroon Suffer Another Postponement

The scheduled international friendly match between nine-time African champions, Nigeria’s
Eagles reconvene for libya clash

Latest FIFA Ranking: Eagles Descend Eight Places To 44th In The World

Nigeria has recorded eight steps downward crash in the latest