The exchange rate between the naira and UK Pounds sold at over N1000 to £1 for the last 5 days on the black market.
This is according to tracking Nairametrics tracker of black-market exchange rates over the last four weeks since the central bank introduced a revised investor and exporter window.
The local currency depreciated slightly against the British Pound on July 10th, 2023, as the average exchange rate was N1025/£1, a 0.49% decrease from N1020/£1 on the previous trading day.
The Naira maintained its value against the Euro, closing at N850/€1on Monday, unchanged from the previous session.
On July 10th, 2023, the Naira depreciated 0.32% against the US dollar on the cryptocurrency peer-to-peer exchange market, closing at N790.67/$1.
trading data from the central bank’s weighted average rates of forex also shows the pounds trading at N1008/£1 as of July 7th, 2023. It was N978.7 at the end of June 2023.
THE ROTTEN FISH: CAN OF WORMS OPENED OF APC & TINUBU'S GOVERNMENT OVER NIGERIA'S ECONOMIC DOWNTURN
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