Suggestions




·

Exchange Rate update: Thursday, 11th Of October, 2021

November 11, 2021
by
rates

Data at the FMDQ Security Exchange where forex is traded officially has shown that the exchange rate between the Naira and the US dollar opened on Thursday, November 11, 2021, at N414.28/$1 after it closed at ₦414.73 to a $1 on Wednesday, 10 November 2021.

The rate had opened at ₦413.89/$1 on Wednesday 10th November, after it closed at ₦415.07 to a $1 on Tuesday, 9th November 2021.
Also, at the Parallel Market (Black Market) the US dollar continued weakening after it crashed massively on Wednesday, October 9, 2021.

The exchange rate of Naira to dollar stood at N540/$1, according to currency dealers at the NARCO wing of the Murtala Muhammed International Airport Ikeja, Lagos.
One dealer explained that when the dollar is in free fall, the rate is not stable but determined by a mix of market forces and bargaining power of dealers.

Join our WhatsApp Channel

While some finance experts attributed the appreciation of the Naira to the Central Bank’s efforts at injecting liquidity into the official market, other analysts point to increasing energy prices.

However, the CBN has not updated its rates for currencies on Thursday   as at the time of publishing this currency update.
But, the apex bank displayed N411.37/$1 as at Wednesday November 10,2021. This is compared with N411.34/$1 displayed on Tuesday, November 9, 2021.
The CBN also displayed the  British Pound Sterling as of Wednesday at N555.6786/£1, as against N558.3529 to the Sterling displayed on Tuesday November 9,2021.

+ posts

Chimara Bygold

Delta
Previous Story

Delta Assembly OKays Okowa’s N18.7bn Loan From CBN

Obi Emekekwue, Delivering Jacksonite Professional Development Series
Next Story

Premier League Announce 2022/2023 Premier League Schedule To Accommodate FIFA World Cup In Qatar

Featured Stories

Latest from Currency

Why CBN Retained Bencmark Interest Rate At 27.5%

Central Bank Cuts Interest Rate to 26.5% as Inflation Eases

The Central Bank of Nigeria has reduced its key interest rate to 26.5%, signalling growing confidence that inflation is beginning to slow. The decision, announced in Abuja by Governor Olayemi Cardoso, marks the first rate cut since November 2025. The Monetary Policy
Nigeria Now Leading Cement Exporter In Africa – Dangote

Why Tinubu’s Policies Can Crash Dollar Rate – Dangote

The Chairman of the Dangote Group, Aliko Dangote, has said that current government policies could significantly strengthen the naira against the US dollar, potentially bringing the exchange rate down to as low as ₦1,100 to $1. Dangote made the remarks on Tuesday

Nigeria’s Public Debt Hits N152.39 Trillion in Q2 2025 – NBS

Nigeria’s public debt stock rose to N152.39 trillion (US$ 99.65 billion) in the second quarter of 2025, up from N149.38 trillion (US$ 97.23 billion) in the first quarter, the National Bureau of Statistics (NBS) disclosed in its Nigerian Domestic and Foreign Debt Report for
Delta
Previous Story

Delta Assembly OKays Okowa’s N18.7bn Loan From CBN

Obi Emekekwue, Delivering Jacksonite Professional Development Series
Next Story

Premier League Announce 2022/2023 Premier League Schedule To Accommodate FIFA World Cup In Qatar

Don't Miss

President Buahri and Burkinafaso Ambassador

Leaders Must Give Best For Their People, Buhari Tells Exiting Burkina Faso Envoy

It is the bounden duty of leaders, particularly within the

Three ways retailers can continue their golden run in 2023

by Blessed Hwaire, Industry Value Advisor: Consumer Products, Life Sciences