Prime Business Africa
About N1,380.10 was offered as the foreign exchange (FX) rate for the United States dollar (USD) in the Nigerian foreign exchange market (NFEM) on Thursday.
Dollar: American Greenback Trades Flat Against Naira
The Central Bank of Nigeria (CBN) said the foreign exchange was marginally increased by N0.03 from the N1,380.07 per $1 offered during trading in the NFEM, also known as the official window, on Wednesday.
CBN further disclosed through its NFEM portal that the dollar’s highest value during trading on Thursday was N1,390.5 kobo per $1, while the lowest the USD traded was N1,376 per $1, before settling at N1,383 per $1 at the end of trading.
Join our WhatsApp ChannelPound: FX Traders Raise British Currency Value To N1,818/£
The financial regulator also said the foreign exchange rate for the pound was increased to N1,818.18 kobo per, below the N1,814.97 kobo per £1 reported during trading in the official window on Wednesday.
According to the portal, the pound increased in value by N3.21 kobo in the official window, while the naira depreciated in worth by 0.17 percent against the British currency.
Euro: Over N3 Added To FX Rate For European Currency
During trading in the NFEM, the euro was exchanged at N1,566.26 kobo per €1, as foreign exchange traders increased the FX rate for the European currency by N3.77 kobo.
This resulted in the naira depreciating by 0.24 percent against the European currency, as the euro was traded at N1,562.49 kobo per €1 in the official window on Wednesday.
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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.
