Naira rises against US Dollar, Euro and Australian dollar at the Black market
Naira on Monday was strengthened against the US Dollar, Euro and Australian Dollar at the parallel market as exchange rate continued to be unstable following the recent Flexible Exchange Rate policy announced by the Central Bank of Nigeria.
The US Dollar to Naira fell to Four Hundred and Eighty-Three Naira sell rate from Four-Hundred and Eighty-Five traded on Friday, a Two Naira fall.
Similarly, the Euro to naira fell also to Five Hundred and Seventy Naira, from Five Hundred and Seventy-Three Naira traded previously. This was a Three Naira fall.
In the same vein naira strengthened against the Australian Dollar falling by Twenty Naira, and closed at Three Hundred Naira from Three Hundred and Twenty Naira at the previous trading day.
However, the Euro sell rate rose against the Naira at the official market, rising to Four Hundred and Fifty-Two Naira Five Kobo from Four Hundred and Fifty Naira Eighteen Kobo. This was a two naira thirty-eight kobo naira fall against the naira.
British Pound and the Chinese Yuan sell rates also rose against the naira, rising to Four Hundred and Twenty-Three Naira Eleven kobo, from Five Twenty –One Naira Seventy-Three Kobo for British Pound and to Fifty-Eight Naira Six Kobo, from Fifty-Seven Point Eight- Seven Naira for Chinese Yuan.
Denmark’s Danish Krone and Swizz Franc were also positive against the naira, closing at Sixty Naira Eight Three from Sixty Naira Fifty-One Kobo for Denmark’s Danish Krone, and Four Hundred and Eleven Naira, Three Kobo from Four Hundred and Eight Naira Fifty-Four Kobo traded on Friday.
BLACK MARKET EXCHANGE RATE
| CURRENCY | BUY | SELL | % |
| US DOLLAR {USD} | 478 | 482 | -0.62 |
| EURO {EUR} | 560 | 570 | -0.70 |
| BRITISH BOUNDS {GBP} | 662 | 670 | 0.00 |
| CANADA DOLLAR {CAD} | 393 | 400 | 0.00 |
| SOUTH AFR RAND {ZAR} | 25 | 33 | 0.00 |
| GHANA CEDIS {GHS} | 80 | 90 | 0.00 |
| CHINESE YUAN {RMB} | 62 | 69 | 0.00 |
| AUSTRALIAN DOLLAR {AUD} | 292 | 300 | -6.25 |
| CENTRAL AFRICAN CFA FRANC {XOF} | 0.87 | 0.89 | 0.00 |
| WEST AFRICAN CFA FRANC {XAF} | 0.78 | 0.81 | 0.00 |
| UNITED ARAB EMIRATE {AED} | 105 | 140 | 0.00 |
CBN EXCHANGE RATE
| CURRENCY | BUY | SELL | % |
| US DOLLAR {USD} | 380 | 379 | 0.00 |
| EURO {EUR} | 451.31 | 452.5 | 0.12 |
| BRITISH BOUNDS {GBP} | 521.73 | 523.11 | 0.33 |
| SOUTH AFR RAND {ZAR} | 25.94 | 26.03 | -0.29 |
| CANADA DOLLAR {CAD} | 57.91 | 58.06 | 0.21 |
| JAPENESE YEN {JPY} | 3.47 | 3.47 | 0.34 |
| CENTRAL AFRICAN CFA FRANC {XOF} | 0.67 | 0.69 | 0.13 |
| SAUDI RIYAL {SAR} | 101.06 | 101.33 | 0.01 |
| WEST AFRICAN UNIT ACOUNT {WAUA} | 538.77 | 540.2 | 0.02 |
| SWIZZ FRANC {CHF} | 410.22 | 411.3 | 0.24 |
| DENMARK KRONE {DKK} | 60.67 | 60.83 | 0.12 |
