Prime Business Africa
The United States dollar (USD) traded flat at N1,407.81 kobo per $1 in the black market on Tuesday, April 7, according to Naira Rates, the parallel market aggregator.
Also, the foreign exchange (FX) rate for the pound and the euro remain unchanged, after the British currency traded at N1,919.99 kobo per £1, and the European currency exchanged at N1,641 per €1.
Join our WhatsApp ChannelIn the Nigerian foreign exchange market (NFEM), the dollar traded at N1,386.65 kobo per USD, up by N5.86 kobo when compared to the N1,380.79 kobo per USD recorded on Thursday, April 2.
According to the data obtained from the Central Bank of Nigeria (CBN), the dollar’s highest rate was N1,390 per USD, while the lowest was N1,389/$1, before closing at N1,389 per dollar.
Also, the FX rate for the pound increased to N1,837.90 kobo per £1 in the NFEM, also known as the official window, compared to Thursday’s N1,824.19 per £1, representing a N13.71 kobo increase.
The value of the euro also increased, rising by N13.69 kobo to N1,605.03 per €1, from the N1,591.34 per €1 recorded on Thursday during trading 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.
