EditorData at the FMDQ Security Exchange where forex is traded officially has shown that the exchange rate between the naira and the US dollar opened at N413.74/$1 on Monday, November 15, 2021, after closing at N415.10/$1 on Friday, November 12.
Also, at the Parallel Market (Black Market) the US dollar started a pullback against the Naira, after sustained weakening for over two days when it fell to N530/$1 last week.
According to a parallel market dealer in Ikeja Lagos, dealers buy at N540/$1 and sell at N545 to the US dollar.
Similarly, the Central Bank of Nigeria (CBN) has not updated its currency rates on Monday as at the time of publishing this currency update.
READ ALSO:Exchange Rate Update: Friday 12 October, 2021
But, the apex bank displayed an exchange rate of N411.42/$1 on Friday compared to N411.39/$1 displayed on Thursday, November 11, 2021.
The CBN also displayed the British Pound Sterling as of Friday at N551.3028/£1 compared to
N551.2215/£1 displayed on Thursday.
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