Prime Business Africa
In the Nigerian foreign exchange market (NFEM) on Friday, the United States dollar (USD) traded at N1,337.28 kobo per USD, slightly below the N1,338.58 kobo per $1 on Thursday, indicating a N1.3 kobo decline.
However, the American greenback closed trading at N1,337 per dollar in the NFEM, after trading as high as N1,339.5 kobo per USD and as low as N1,335 per USD, according to the Central Bank of Nigeria’s (CBN) data.
Join our WhatsApp ChannelPound: Naira Trades At N1,815/£1
The pound depreciated in value in the NFEM, also known as the official window, on Friday, after trading at N1,815.35 kobo per £1, compared to the N1,819.66 kobo per £1 recorded during trading the day before.
According to the CBN’s data, the foreign exchange (FX) rate of the pound decreased by N4.31 kobo during trading, resulting in the value of the naira appreciating by 0.23 percent against the British currency.
Euro: NFEM Records N9 Decline In European Currency Rate
The foreign currency traders reduced their asking price for the euro on Friday, exchanging the European currency at N1,556.28 kobo per €1, below the N1,565.51 kobo per €1 recorded during trading the previous day.
Due to the foreign exchange rate of the euro declining by N9.23 kobo, the naira gained ground against the European currency, as it appreciated by 0.58 percent in the official window.
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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.
