Prime Business Africa
There was no significant changes in the foreign exchange (FX) rate for the United States dollar (USD) in the black market on Friday, April 4, according to Naira Rates, the parallel market aggregator.
During trading, the aggregator said the American greenback was traded at N1,408.15 kobo by traders in the black market, compared to the N1,404.8 kobo per dollar offered during trading on Thursday, April 2.
Join our WhatsApp ChannelThis indicates the foreign exchange rate for the United States currency increased marginally by N3.35 kobo during trading in the parallel market on Friday, according to data from the aggregator.
Also, the black market traders sustained the price for the pound on Friday, as the foreign exchange rate for the British currency was put at N1,919.99 kobo per £1 by the aggregator, same rate as reported the previous day.
In addition, the euro neither declined nor appreciated during trading in the parallel market, as the value of the European currency maintained the same rate reported the day before, which was N1,641 per €1.
There was no trading in the Nigerian Foreign Exchange Market (NFEM), also known as the official window on Friday due to the public holiday to celebrate Easter.
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Prime Business Africa is a business, economy and policy news platform founded in 2021 by veteran journalist and media scholar, Dr Marcel Mbamalu, after he left The Guardian as Editor.
Dr Mbamalu, who serves as Founder and Publisher, set up Prime Business Africa to deliver sharp, data-driven reporting on Nigeria’s markets, trade, investment, and governance trends for decision-makers, entrepreneurs, and policy leaders.
He also writes The Bottom Line, a backpage column for Punch Newspaper every Thursday.
Under his leadership, Prime Business Africa combines deep newsroom experience with a focus on accountability journalism, aiming to bridge information gaps between Africa’s private sector and the global economy.
