EditorTHE Naira to Dollar exchange rate at the Investors and Exporters (I&E) window,
according to data obtained from the FMDQ Security Exchange where foreign exchange (forex) is traded officially, opened at N414.05/$ on Monday, October 25, 2021.
It also opened at N414.10/$1 on Friday, October 22, 2021, and closed at N415.07 to a dollar the same day.
At the Parallel Market (Black Market) on Monday, October 25, 2021 dealers said the exchange rate of Naira to Dollar is N572/$1, marking a N1.00 appreciation when compared N573.00/$1 which the local currency opened on Friday, October 22, 2021 according to currency dealers at NARCO end of Murtala Muhammad International Airport Ikeja Lagos.
The naira remained stable at N572/$1 at the Bureau De Change segment of the market on Monday, as it converged with the black market rate of N572/$.
In the same vein, the Central Bank of Nigeria ( CBN) has not updated its rates for Monday as at the time of publishing this currency update. However, information on the apex bank’s website showed M410.96 as at Friday, October 22,2021 compared with N410.91 to a dollar displayed on October 21, 202.
The CBN also displayed the British Pound Sterling on Friday at N566.4673 as against N567.3023/£1 to a Pound Sterling reported on Thursday, October 21,2021.
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