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Dollar sells for N850 in black market, falls in official window

The dollar sold for N850 in the black market on Thursday.

A Bureau De Change operator in the Ogba, area of Lagos State told Ripples Nigeria he sold one dollar for N860 on Wednesday.

Also, in the Investors and Exporters window, which is the official foreign exchange market, the Naira appreciated against the dollar by 0.09 percent on Wednesday.

Traders exchanged a dollar for naira at the rate of N445.67/$1 at the close of trading, below the N446.10/$1 both currencies traded on Tuesday.

On the same day, traders in the official market recorded transactions worth $93.01 million.

This surpassed the $72.69 million posted on Tuesday.

Meanwhile, the exchange rate between the dollar and Naira in the Central Bank of Nigeria-backed forex market was N445.5/$1 on Monday.

Also, transactions worth $206.25 million were recorded on the same day.

Source: Ripples Nigeria