Dollar to Naira News

Naira records three month low of N1,530 on parallel market – Business Day News


The naira on Monday hit three month-low of N1,530 per dollar on the parallel market, also known as the black market, following renewed pressure on demand for the greenback by the end users.

This represents 0.65 percent (N10) lost compared to N1,520 quoted on Friday on the black market. The local currency was quoted at N1,570 per dollar on March 19, 2024 according to data collated from online data collation platforms and street traders.

“The dollar’s value has risen due to increased demand from travelers and importers. Currently, we purchase dollars at N1,520 and sell them at N1,530,” a street trader in Lagos informed BusinessDay on Monday.

On the official Foreign Exchange (FX) market the naira gained 0.70 percent on Friday as the five days trading week ended calmly.

After trading on Friday, the dollar was quoted at N1,509.67 compared to N1,520.24 quoted on Thursday at the Nigerian Autonomous Foreign Exchange Market (NAFEM), according to data from the FMDQ Securities Exchange Limited.

The dollar supplied by willing buyers and willing sellers decreased by 32.64 percent to $116.88 million on Friday from $173.51 million recorded on Thursday.

The intraday high closed at N1,535 on Friday as against N1,550 closed on Thursday, while the intraday low was quoted at N1,450 on the same day compared to N1,430 quoted Thursday.


See Dollar to Naira black market today, Pound to Naira, Euro to Naira, Dollar to Naira CBN rate and Dollar to Naira Bank rate today.

Related Posts

Airtel Africa, 23 Others Lift Stock Market by N262bn – This Day News

By Kayode Tokede The stock market segment of the Nigerian Exchange Limited (NGX) yesterday took a positive stance as investors buy-side actions in Airtel Africa Plc and 23…

Summer vacation, strong U.S. dollar push naira to a 4-month low – Nairametrics

By Olumide Adesina The bullish dollar index and summer vacation have led to a considerable increase in demand for foreign currencies, putting significant pressure on the naira. The naira…

Appeal Court quashes N20 million damages against Guaranty Trust Bank, backs it’s Know-Your-Customer requirements on corporate account – Nairametrics

By Nnaemeka Onyekachi Story Highlights  The Court of Appeal in Abuja has overturned a N20 million damages ruling against Guaranty Trust Bank (GTB) by the Federal Capital Territory High…

Standard Bank Securities: Banks under our coverage could pay N217bn as proposed windfall tax – The Cable News

By Bunmi Aduloju The Standard Bank Group (SBG) Securities says banks under its coverage could pay N217 billion in the proposed windfall tax. In a report on Thursday,…

Central Bank’s Misguided Policies Under Cardoso Have Worsened Naira, Strangled Nigerian Economy – Civic Organisation – Sahara Reporters

By Sahara Reporters The Nigeria Must Win Network (NMWN), a civil society, has stated that interventions under the Governor of Central Bank of Nigeria (CBN), Olayemi Cardoso’s leadership…

Alleged N17.8bn Debt: Court Orders CBN, EFCC to Investigate Afex Accounts in 28 Banks – This Day News

By Wale Igbintade A Federal High Court in Lagos has ordered the Central Bank of Nigeria (CBN) and the Economic and Financial Crime Commission (EFCC) to carry out…