Dollar, Euro And Pound Rise In Black Market, USD Sells At N663 In Official Window

Black Market Naira To Dollar Exchange Rate For Today 28th September 2023
Exchange Rate Today

Black Market– The United States Dollar (USD) was sold at N663.04/$1 at the close of trading in the official market on Friday, as the naira recovered by 5.57%.

Authorised dealers saw the price of the dollar drop by N39.15 kobo at the end of trading, from the N702.19/$1 the USD was sold the previous session.

Before the dollar rate closed on Friday, within trading hours, the highest the American currency was hawked was N791/$1 and the lowest was N461/$1, FMDQ Exchange data showed.

At the end of the day, the amount of foreign exchange transacted by buyers and sellers in the official market was $311.83 million, the highest this year.

This is a significant increase of $241.09 million or 340.8% when compared to the $70.74 million forex investors and exporters traded the day before.

In the black market, the dollar slightly gained against the naira, trading at an average rate of N757.4/$1, against the N756.2/$1 both currencies traded on Thursday.

This is according to Naira Rates, a black market aggregator, which also reported that the naira to pound exchange rate was N983.8/£1, up from N971.4/£1.

Also, the European currency, the euro, appreciated against the Nigerian currency, trading at N841.8//€1, above the N831.2/€1 the foreign currency was sold the previous day.