Although fluctuations are normal during every trading day and opening prices usually differ, the Nigerian currency still returns to close at the same price. Since about two weeks ago when the Naira started closing at N415.07 per dollar, it has been sitting at that rate quite consistently. The opening prices remained very similar, and it points to the possibility that the closing price may remain the same. This is a marginal rise of N0.02, from the N413.71 at which it opened on Thursday morning. On Friday morning, the Naira opened at N413.69 per dollar at the official window. It had earlier opened at N413.71 per dollar on Thursday, but fell back to N415.07 after all trading for the day was closed. The Naira again took on its steady rate of N415.07 per dollar at the official forex market managed by the FMDQ Group after closing at that price on Thursday. Dollar to Naira Exchange Rate at Official Market Today However, it is recently falling closer to the price from which it made such a significant jump. In November, the black market saw the Naira take a huge jump from N575 per dollar to around N530 per dollar. Dollar to Naira Exchange Rate at Black MarketĪt the black market, the Naira opened at N571 per dollar on Friday. The Dollar to Naira exchange rate as of Friday, Decemremained largely unchanged at both the official forex trading section and the unregulated parallel market popularly known as the black market.
Morning * Midday** Evening *** Final Rates DateĬentral Bank of Nigeria’s Official Naira Rates The drop in foreign reserves impeded the Central Bank of Nigeria’s ability to consistently intervene at the forex to prop the Naira value as usual.Īt the bureau de change section, the Naira exchanged at N500, N705 and N595 to the United States Dollar, British Pound and the Euro, respectively. Against the Euro and British Pound, the local currency exchanged at N595 and N705, respectively.Įconomic uncertainty amid unclear policy direction has put a lid on Naira against global currencies, especially with Nigeria’s fiscal buffer lacking despite crude oil trading at an almost 2-year high from COVID-19 record-low. The Naira gained N2 against the United States Dollar from N506 it traded last week Friday to N504 today, Friday, Jat the parallel market.
The Naira improves slightly against its global counterparts at the parallel market on Friday as liquidity increase marginally across key forex markets.