HomeBUSINESSNaira appreciates, rise against US Dollar, Pound and Euro

Naira appreciates, rise against US Dollar, Pound and Euro

Naira gains, exchanges for N457 per Dollar

Naira bounces back as it rose significantly against the dollar, pound, euro and some other currencies on Thursday, May 13, 2021. The data posted on the exchangerate.org website revealed a significant appreciation of naira against other currencies.

The U.S Dollar crashed against the Naira closing at Three Hundred and Eighty Naira from Four Hundred and Ten Naira Twenty-Three Kobo at close on Wednesday. This was a Thirty Naira Twenty-Three Kobo or a Seven Point Three-Seven per cent fall against the naira.

The Euro similarly fell to Four Hundred and Sixty Naira Thirty-Five Kobo. This was a Six Point Nine per cent fall from Four Hundred and Ninety-Four Naira Fourth-Eight Kobo previously traded.

The naira strengthened also against the British Pound closing at Five Hundred and Thirty-Four Naira Thirty-Four Kobo from Five Hundred and Seventy-Five Naira Thirty-Six Kobo at close at the previous day.

Canadian dollar and Chinese Yuan also weakened against the naira. It fell to Three Hundred and Thirteen Naira Ten Kobo from Three Hundred and Thirty-Seven Naira Sixty Kobo for Canadian dollar while the Chinese Yuan closed at Fifty-Nine Naira Four Kobo from Sixty-Three Naira, Fifty-Four Kobo.

Naira also rose against the Saudi Riyal, as One Riyal was exchanged at the rate of One Hundred and One Naira Thirty-Three Kobo, a Twenty- Nine Kobo fall from One Hundred and One Naira, Sixty-Two Kobo at the previous day.

Swizz franc and United Arab Emirate to the naira also plunged Four Hundred and Twenty Naira, Fifty-Seven Kobo and One Hundred Naira, Forty-Five Kobo respectively. These fell from Four Hundred and Fifty-One Naira, Fifty-Nine Kobo for Swizz Franc and One Hundred and Eleven Naira, Sixty-Eight Kobo for United Arab Emirate.

One South African Rand was exchanged for Twenty-Six Naira Ninety-Four Kobo on Friday, this was a weakness against the Naira which was previously exchanged for Twenty-Naira, Fourteen Kobo on Thursday.

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