These variations arise due to factors such as timing of surveys, supply and demand dynamics, purchasing power, and other pertinent economic considerations. Investors and individuals involved in currency trading must stay informed about these factors to make informed decisions.Īdditionally, it’s crucial to note that black-market exchange rates can vary significantly across different locations within the country. Various factors, such as economic indicators, geopolitical events, and market sentiment, contribute to the dynamic nature of currency valuations. It is important to recognize that currency fluctuations are a natural occurrence in the global foreign exchange market. This contrasts with the previous day’s trading session, where the Naira traded at N810/€1. This indicates an increase of 0.63% compared to the previous day’s trading session, where the Pound traded at an average rate of N952/£1.įurthermore, the Naira saw a significant increase of 0.62% against the Euro, trading at an average exchange rate of N805/€1 on June 14 th, 2023. Still on the down trend, the Naira witnessed a slight appreciation against the British Pound, trading at an average exchange rate of N946/£1 on June 14 th, 2023. Reports from BDC traders, as relayed by Nairametrics, confirmed this decrease. This represents a decrease of 0.26% compared to the previous day’s trading session, where the Dollar traded at N757/$1. In the latest currency update, the Nigerian Naira appreciated against the US Dollar at black market, trading at an average rate of N759/$1 on Monday, June 19th, 2023. Naira appreciates against the US Dollar to trade at N759/$1 on 19th June 2023 These figures are according to data obtained from a P2P exchange platform. This represents a 4.69% decrease from the last trading session when it recorded N764.15/$1. However, at the cryptocurrency P2P Exchange market, the FX rate experienced a significant depreciation, trading at a minimum of N800.00/$1 on Tuesday, 20 th, June 2023. The Breakdown is given as below Naira/Dollar (NGN/USD) These variations arise due to factors such as survey timing, supply and demand dynamics, purchasing power, and other relevant economic considerations. Investors and individuals involved in currency trading should stay well-informed about these factors to make informed decisions.Īdditionally, it is crucial to note that black-market exchange rates can significantly vary across different locations within the country. Various factors, including economic indicators, geopolitical events, and market sentiment, contribute to the dynamic nature of currency valuations. It is important to acknowledge that currency fluctuations are a natural occurrence in the global foreign exchange market. This contrasts with the previous trading session, where the Naira was valued at N816/€1. This represents a 0.10% increase when compared to the exchange rate of N954/£1 recorded in the previous trading session on Monday, June 19th, 2023.įurthermore, the Naira experienced a 0.12% appreciation against the Euro, trading at an average exchange rate of N815/€1 on June 20th, 2023. On a positive note, the Naira observed a slight appreciation against the British Pound, with an average exchange rate of N953/£1 on June 20th, 2023. This signifies a notable decline of 2.77% compared to the previous day’s trading session, where the Dollar was valued at N759/$1.Īccording to reports from BDC traders, as conveyed by Nairametrics, this decrease has been confirmed. In the latest currency update, the Nigerian Naira experienced a depreciation against the US Dollar, reaching an average exchange rate of N780/$1 in the black market on Tuesday, June 20th, 2023. Nigerian Naira Weakens Against US Dollar, Trades at N780/$1 on June 20th, 2023 These figures are according to data obtained from a P2P exchange platform.īreakdown of the peer-to-peer rates is given below: Naira/Dollar (NGN/USD) This represents a 4.16% increase from the last trading session when it recorded N800/$1.
However, at the cryptocurrency P2P Exchange market, the FX rate experienced a significant appreciation, trading at a minimum of N766.75/$1 on Wednesday, 21, June 2023. Breakdown of the currency rates is given as below: Naira/Dollar (NGN/USD)
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