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Dollar Rate Rises in Black Market while USD Remains Stable in Official Window

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Dollar Rate Rises in Black Market while USD Remains Stable in Official Window The exchange rates between the Nigerian Naira (NGN) and other major currencies: Official Market (Investors' and Exporters' Window): On Thursday, the exchange rate between the Naira and the United States Dollar (USD) was N736.62/$1. On Friday, the exchange rate remained stable at N736.62/$1. The exchange rate during trading on Friday ranged between N715.80/$1 (low) and N799.90/$1 (high). Foreign Exchange Transactions: On Friday, authorized dealers and their clients transacted $153.55 million worth of forex, which is a significant increase of $87.12 million (131.14%) compared to the previous day's transactions. Black Market: In the black market, the average exchange rate for the US Dollar increased to N922.65/$1, compared to N912.5/$1 the day before. The value of the British Pound also rose in the parallel market to N1168.9/£1, appreciating by N15.4 kobo from N1153.5/£1. The average price of the Eur...