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Home Markets Currencies

Naira slumps further against US Dollar at ₦412/$1

Samuel Oyekanmi by Samuel Oyekanmi
April 3, 2020
in Currencies
Parallel market: Naira retains value against US Dollar at $1/N375
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Naira continues its slide against major currencies of the world as it dipped further against the US dollar to stand at N412/$1.

The currency also depreciated against the Pounds Sterling as it currently costs ₤1/₦492 for sellers and ₤1/₦497 for customers buying. The US dollar is bought at the parallel market for $1/₦402 and sells for an average of $1/₦412 while Euro is bought for €1/₦410 and sold for €1/₦415.

READ ALSO: CBN condemns receiving foreign currency in transfers

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READ ALSO: Nigeria And China Currency Swap Deal Explained

Data is collated from various black market dealers on the mainland and island of Lagos State where forex is sold. The price quoted daily on this page represents the average price obtained by our Research Team. Our prices are a guide and could be slightly different from the price you get when you eventually decide to buy or sell.


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Tags: Black MarketcurrenyExchange RateforexheadlineNaira exchange rateNigerian Business Newsparallel marketTrade
Samuel Oyekanmi

Samuel Oyekanmi

For further inquiries about this article, contact: Email: samuel.oyekanmi@nairametrics.com Twitter: @OYEKANMISAMUEL Linkedln: Samuel Oyekanmi

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Comments 1

  1. Tunde says:
    March 12, 2020 at 5:19 pm

    The Naira has appreciated against the Dollar. Recheck back

    Reply

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