Exchange Rate update: Friday, October 29, 2021

DATA at the FMDQ Security Exchange where forex is traded officially has shown that the exchange rate between the naira and US dollar opened on Friday, October 29, 2021, at N414.49/$1 after it closed at ₦415.10 to a $1 on Thursday, 28 October 2021.

At the Parallel Market (Black Market) on Friday,  dealers said the exchange rate of Naira to dollar remained stable at N570/$1.

In the same vein, the Central Bank of Nigeria ( CBN) has not updated its rates for Friday as at the time of publishing this currency update. However, information on the apex bank’s website showed N411.06/$1 as of 28 October 2021.
The CBN also displayed the  British Pound Sterling on Thursday at 564.6021/£1 as compared

Chimara Bygold

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