The Nigerian Naira exchange rate remained weak against its global counterparts despite efforts to arrest the situation. Naira opened at N413.69 to a United States Dollar on Tuesday at the Investors and Exporters Forex Window.
While rates remained well above N550 per dollar at the unregulated parallel market, CBN exchange rates are better, only if accessible.
The apex bank is selling at N410.71 to banks, according to the data published on Monday. British Pounds and Euro goes for N562.4673 and N480.5718, respectively.
Deposit Money Banks are expected to sell U.S Dollar at around N413.500 as shown in the table below. British Pounds and Euro at N573.111 and N491.238 but forex scarcity amid huge demand has made it impossible for businesses and individuals looking to purchase forex across the nation.
The central bank had halt sale of forex to bureau de change operators earlier in August after accusing them of encouraging illicit financial flow and sustaining the black market were speculators and hoarders profitting from forex speculation operates.
Guaranty Trust Holding Company PLC (GTCO) Published Foreign Exchange Rates
| Currency |
Bid |
Offer |
|
USD
|
413.500
|
413.500
|
|
GBP
|
1.356
|
1.386
|
|
JPY
|
113.030
|
108.030
|
|
EUR
|
1.158
|
1.188
|
The above forex rates were quoted on GTCO website.
Central Bank of Nigeria (CBN) FX Rates
