Dollar Exchanges At N1,423/$1 In Official Market

At the end of trading on Wednesday, January 21, the naira depreciated by 0.21 percent, leading to the foreign exchange rate for the dollar rising to N1,423 per $1 in the Nigerian foreign exchange market (NFEM).

The foreign exchange rate for the United States currency increased by N3 when compared to the N1,420 per dollar recorded on Tuesday, January 20.

During trading in the NFEM, also known as the official window, the United States dollar (USD) traded as high as N1,423 per $1 and as low as N1,419 per $1.

According to the NFEM data obtained from the Central Bank of Nigeria (CBN), the foreign exchange rate for the pound increased to N1,908.17 kobo per £1.

The pound increased by N0.54 kobo from the N1,907.63 per £1 recorded in the official market the previous day, indicating the naira depreciated by 0.02 percent.

However, the official window data showed the naira depreciated by 0.04 percent against the euro during trading, as the European currency traded at N1,664.89 kobo per €1.

This represents a drop of N0.83 kobo in the value of the European currency, when compared to the N1,665.72 kobo per €1 the euro traded at on Tuesday.

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  Conoil, Legend Internet, Others Wipe Off N47.97bn From Stock Market Cap
• Prime Business Africa

  Herbert Wigwe’s Investment In Access Holdings Drops To N110.45bn
• Prime Business Africa

  Access ARM Grows Profit To N4.33bn, Total Assets Increase By 131.48%
• Prime Business Africa

  Nigerian Stock Market Value Drops By N53.30bn
• Prime Business Africa

  Is Olakunle Ade-Ojo Planning To Takeover Custodian Investment As Majority Shareholder?
• Prime Business Africa

  Linkage Assurance Records N6bn Revenue, Tax Burden Affects Profit Growth
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  Honeywell Flour Makes Stock Market Gainers’ List, Academy Tops Losers
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  Neimeth Suffers N2bn FX Loss, Records 50% Decline In Loss After Tax
• Prime Business Africa

  Tony Elumelu Increases Stake In UBA With N1.54bn Shares
• Prime Business Africa

  Nigerian Stock Market Cap Gains N1.08trn In Five Hours
• Prime Business Africa

  Meyer Spent N678m On Paint Production To Generate N1bn Revenue In Q1
• Prime Business Africa

  Champion Brew’s Majority Shareholder Sells Off 350m Shares, Profits From Bullish Run