Prime Business Africa
The United States dollar (USD) traded at N1,386.77 kobo per USD in the black market on Thursday, dropping below the N1,391.28 kobo per $1 recorded on Wednesday.
This represents a N4.51 kobo decline in the foreign exchange (FX) rate for the dollar, while the naira appreciated by 0.32 percent against the US currency in the black market.
Join our WhatsApp ChannelAlso, the pound and the euro traded at N1,909.99 kobo per £1 and the euro exchanged at N1,667 per €1 in the black market on Thursday, which were the same exchange rates reported the day before.
It was gathered that the official dollar rate was N1,355.85 kobo per $1 in the Nigerian foreign exchange market (NFEM) on Thursday, dropping marginally from the N1,357.33 kobo per USD recorded on Wednesday.
According to the NFEM data provided by the Central Bank of Nigeria (CBN), the dollar rate decreased by N1.48 kobo, while the naira depreciated by 0.10 percent.
However, the FX rate for the American greenback closed at N1,358.01 per USD, but not before rising to a high of N1,360.5 kobo per dollar and dropping to a low of N1,354 per dollar.
Also, the pound traded at N1,844.49 kobo per £1 in the NFEM, also known as the official window, dropping from N1,846.51 kobo per £1 reported on Wednesday, indicating a decline of N2.02.
Similarly, the foreign exchange rate for the euro nosedived to N1,592.67 kobo per €1 on Thursday, compared to the N1,594.41 kobo per €1 reported the previous day, representing a N1.74 kobo decrease.
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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.
