Prime Business Africa
The foreign exchange (FX) rate for the United States dollar (USD) decreased to N1,393.78 kobo per $1 in the black market on Wednesday, April 15, dropping by N4.01, according to the parallel market aggregator, Naira Rates.
Black market data showed that the FX rate for the United States currency declined from N1,397.79 kobo per $1 recorded on Tuesday, April 14, indicating the naira appreciated against the dollar by 0.28 percent.
Join our WhatsApp ChannelAlso, the pound and the euro traded at N1,919.99 kobo per £1 and N1,641 per €1, respectively, on Wednesday, maintaining their exchange rates recorded the previous day.
In addition, the Nigerian foreign exchange market (NFEM) recorded marginal change in the foreign exchange rate for the dollar, as the US currency traded at N1,343.74 kobo per $1, compared to the previous day’s N1,343.76 kobo per $1.
The NFEM, also known as the official window, also saw the value of the dollar rise as high as N1,350 per USD, and drop as low as N1,341.99 kobo per $1, before closing at N1,341.99 kobo per dollar.
Also, according to the NFEM data, provided by the Central Bank of Nigeria (CBN), the pound recorded an increase of N1.64 kobo in the foreign exchange rate, after rising from N1,823.88 kobo per £1 to N1,822.24 kobo per £1.
There was a marginal rise of N0.43 kobo in the value of the euro in the official market, where the European currency was traded at N1,584.48 kobo per €1, compared to the N1,584.91 kobo per €1 reported on the day before.
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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.
