Prime Business Africa
The United States dollar (USD) traded at N1,426.35 kobo in the black market on Friday, March 27, appreciating against the naira by 0.24 percent.
On Thursday, the USD had traded at N1,422.84 kobo per $1 in the black market, indicating the foreign exchange (FX) rate for the American greenback increased by N3.51 kobo.
Join our WhatsApp ChannelAccording to Naira Rates, the black market aggregator, the pound and the euro continued to trade flat at N1,919.99 kobo per £1 and N1,641 per €1, respectively, in the parallel market.
In the Nigerian foreign exchange market (NFEM), the FX traders exchanged the USD at N1,380.57 kobo per dollar in the official window, compared to the N1,383.88 kobo/$1 recorded the day before.
This represents a N3.31 kobo decline in the FX rate for the dollar, while the naira appreciated by 0.23 percent.
During trading in the NFEM, also known as the official window, saw the value of the dollar rise to a high of N1,384.50 kobo per USD, and dropped to a low of N1,377 per dollar, before closing at N1,384.25 kobo/$1.
Also, the pound declined in the official window to N1,836.32 kobo per £1, below the N1,847.09 per £1 recorded in the NFEM on Thursday, representing a N10.77 kobo.
In the same vein, the euro traded downward by N5.06 to N1,591.50 kobo per €1 in the official window, from the N1,596.56 kobo per €1 recorded the previous day.
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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.
