EditorData 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 N414.10/$1 on Friday, October 22, 2021.
The local currency traded with the foreign currency at N415.07 to a dollar, which implies a N1.00 or 0.24 per cent depreciation from the N414.07 rate it (closed) exchanged on Wednesday, FMDQ securities exchange data showed.
Join our WhatsApp ChannelThe naira staged an intraday high of N405.00 and a low of N424.25 before closing at N415.07 to a dollar on Thursday.
Available records show that the currency last closed at N415.00/$1 and above mark on October 13 when it closed at N415.10 to a dollar.
At the Parallel Market (Black Market) for Friday, October 22, 202, the naira opened at N573.00 to the US dollar, the same as Thursday, October 21,2021 according to currency dealers at NARCO end of Murtala Muhammad International Airport Ikeja Lagos.
In Abuja, the Federal Capital Territory, some dealers were reported to have bought the naira at the rate of N570.00 and sold at N578.00 to a dollar on Thursday.
Similarly, Bureau De Change (BDC) operators in Lagos, told Prime Business Africa that the naira remained stable at N572/$1 on Friday, the same as it exchanged on Thursday October 21, 2021.
In the same vein, the Central Bank of Nigeria ( CBN) has not updated its rates for Friday as at the time of publishing this currency update. However, information on the apex bank’s website showed N410.91 to a dollar as at October 21, 2021 as against N410.89/$ reported on Wednesday, October 21,2021.
The CBN also displayed the British Pound Sterling at N567.3023/£1 as against N565.2203 to a Sterling reported on Thursday, October 21,2021.
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