Exchange Rate Update: Thursday, October 21, 2021

DATA obtained from the FMDQSecurity Exchange where foreign exchange (forex) is traded officially, shows that the exchange rate between the naira and the US dollar at the Investors and Exporters (I&E) window opened at N413.94 on Thursday, October 21, 2021.

The rate opened at ₦414.18/$1 on Wednesday October 20, after it closed at ₦414.73 to $1 on Monday, 18 October 2021.

The local currency  at Lagos Parallel Market (Black Market) for Thursday, October 21,2021 opened at N573.00 to a ($1), according to currency dealers at NARCO end of Murtala Muhammad Airport Ikeja Lagos.

Similarly, iBureau De Change (BDC) operators Lagos, told Prime Business Africa that the naira remained flat at N572/$1on Thursday October 21 as it exchanged on Wednesday in this (BDC) market segment.

The exchange rate displayed by the Central Bank of Nigeria ( CBN) showed that it has not been updated as it still carries the same N410.89/$ reported yesterday (Wednesday)  while the British Pound Sterling is reported at N565.2203 to a Sterling as at mid-day, October 21,2021.

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