Glamtush
No Result
View All Result
  • Home
  • News
  • Beauty
  • Business & Brands
  • Entertainment
  • Fashion
  • Features
  • Lifestyle
  • Politics
  • Sports
  • Telenovelas
  • Events
  • Home
  • News
  • Beauty
  • Business & Brands
  • Entertainment
  • Fashion
  • Features
  • Lifestyle
  • Politics
  • Sports
  • Telenovelas
  • Events
No Result
View All Result
Glamtush
No Result
View All Result
Home Business & Brands

FX Dealers Increase Dollar Rate In Official Channel, USD Trades At N754.5 In Black Market

byeditor
June 12, 2023
in Business & Brands
Reading Time: 3 mins read
Dollar Rate
Share on FacebookShare on TwitterShare on PinterestShare on WhatsappShare on LinkedinShare on Telegram

FX dealers have increased Dollar to Naira exchange rate in the official channel as the USD trades at N754.5 in Aboki Black Market.

Glamtush reports that the official market on Friday, 9 June, recorded a 0.6% decline in the value of the naira, as the dollar rate was up by N3, according to the FMDQ Exchange, the official foreign exchange rate aggregator.

This online newspaper gathered that the investors and exporters were charged N472.50/$1 at the close of forex trading. On Thursday, the rate settled at N469.50/$1. 

READ ALSO

Access Bank Plc, KCB Group Complete National Bank Of Kenya (NBK) Transaction

Inclusive Education In Action, Union Bank Sponsors Mathematics Competition For Hearing Impaired Students

Note that during trading, the naira to dollar exchange rate was up as high as N477/$1, and as low as N460/$1 before the close of business. 

 

In the end, foreign exchange investors purchased $77.42 million worth of forex in the investors and exporters window according to FMDQ. 

 

The data from the aggregator showed foreign exchange supply increased by $3.24 million or 4.36%, slightly above the $74.18 million reported the previous day. 

In the black market, the dollar sheds some value, as the forex traders demanded an average price of N754.5/$1, which is below the previous day’s N756.8/$1. 

 

Although the naira to pound sterling exchange rate didn’t share the same fate, as the British currency was offered at a rate of N961.8/£1, up by N4.2 kobo or 0.43% when compared to the preceding day’s N957.6/£1 rate.

Similarly, the European currency, the euro, was bought at a higher price of N825.9/€1 during trading. The price of the euro was raised by N2.8 kobo in the Bureau De Change window of the black market, from N823.1/€1. 

Meanwhile, the foreign exchange market in Nigeria is set to undergo reform as President Bola Tinubu suspended the head of the Central Bank of Nigeria (CBN), Godwin Emefiele. 

 

According to the Director of Information, Office of the Secretary to the Government of the Federation, Willie Basse, on Friday, Emefiele’s suspension is due to an ongoing investigation of his office and the planned reforms in the financial sector of the economy. 

 

Recall that Tinubu, during his inauguration, said there will be house cleaning in the monetary policy of Nigeria to ensure a single foreign exchange market. 

 

Emefiele’s sack is said to be one of many steps towards reforming the forex market.

 

Related Posts

National Bank Of Kenya (NBK)
Business & Brands

Access Bank Plc, KCB Group Complete National Bank Of Kenya (NBK) Transaction

May 31, 2025
Mathematics Competition
Business & Brands

Inclusive Education In Action, Union Bank Sponsors Mathematics Competition For Hearing Impaired Students

May 30, 2025
Fidelity Bank
Business & Brands

Fidelity Set To Hold 3rd Edition Of FITCC In Atlanta, USA In September 

May 30, 2025
Fidelity Bank
Business & Brands

Fidelity Bank Wins ‘Most Improved Commercial Bank’ At Inaugural Nairametrics Capital Market Choice Awards

May 29, 2025
Fidelity Bank
Business & Brands

Fidelity Bank Celebrates Children’s Day With Launch Of Read2Lead Anthology, Scholarship Awards

May 29, 2025
Ileya Promo
Business & Brands

Adron Homes Launches Grand Ileya Promo With Massive Discounts, Star Appearances & Festive Gifts

May 28, 2025
Next Post
June 12

Significance, Importance Of June 12 Nigeria’s Democracy Day

GPBN Associates Member

Fidelity Bank

Zenith Bank

Lost In Love Teasers June 2025

Star Life: Lost In Love Teasers June 2025

May 31, 2025
2027

2027: Hurdles Before The Coalition – Emeka Monye

May 31, 2025
Soulmates Teasers June 2025

Star Life: Soulmates Teasers June 2025

May 31, 2025
National Bank Of Kenya (NBK)

Access Bank Plc, KCB Group Complete National Bank Of Kenya (NBK) Transaction

May 31, 2025
TrashToArt

Buzz&Bants Africa Set To Launch TrashToArt Campaign On World Environment Day 2025

May 31, 2025
Bell The Cat

Who Will Bell The Cat? By Emeka Monye

May 31, 2025
Hydrogen

Hydrogen, Lagos State Touch Thousands Of Business Owners With “Healthy Heart, Healthy Business” Outreach

May 30, 2025
Saras & Kumud Teasers June 2025

Star Life: Saras & Kumud Teasers June 2025

May 30, 2025
Mathematics Competition

Inclusive Education In Action, Union Bank Sponsors Mathematics Competition For Hearing Impaired Students

May 30, 2025
Fidelity Bank

Fidelity Set To Hold 3rd Edition Of FITCC In Atlanta, USA In September 

May 30, 2025

GLAMTUSH

 

Glamtush publishes the latest trends in fashion, beauty, and lifestyle, as well as those making the fashion world interesting and adorable.

RELEVANT PAGES

  • About Us
  • Advertise
  • Contact Us

REACH OUT

Do you have any news for us? Event Coverage, Press Releases or Adverts? Then reach out to us via glamtush@gmail.com or glamtush15@gmail.com

OFFICE ADDRESS

Lagos, Nigeria

Copyright © 2022 Glamtush

  • About Us
  • Advertise
  • Contact Us
  • Disclaimer
  • Glamtush – Nigeria News, Nigerian Newspapers, Naija News
  • Glamtush – Nigeria News, Nigerian Newspapers, Naija News
  • Terms And Conditions
  • Write for Us

© 2022 Glamtush

No Result
View All Result
  • Home
  • News
  • Beauty
  • Business & Brands
  • Entertainment
  • Fashion
  • Features
  • Lifestyle
  • Politics
  • Sports
  • Telenovelas
  • Events

© 2022 Glamtush