December 4, 2023

  • Bitcoin(BTC)$24,383.00-1.66%
  • Ethereum(ETH)$1,657.83-2.53%
  • Tether(USDT)$1.000.18%
  • BNB(BNB)$310.23-1.26%
  • USD Coin(USDC)$1.000.10%
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  • Cardano(ADA)$0.39-2.73%
  • Dogecoin(DOGE)$0.09-2.67%
  • Polygon(MATIC)$1.38-6.66%

Exchange Rate Today; Dollar Trades at ₦1,150


CEM REPORT, MARKET | The mounting demand for foreign exchange (FX) – particularly, the dollar – is creating intensified pressure that’s driving buyers to the unregulated parallel market. This trend is significantly weakening the Naira.

As of today, Tuesday, the parallel market sells a dollar between ₦1,130 and ₦1,150. According to CEM sources in Lagos and Abuja respectively, a dollar trades at ₦1,145-₦1,150 and ₦1,130 on the parallel market.

It’s noteworthy that these prices have only experienced marginal changes from yesterday’s trading sessions.


At the CBN window, however – as opposed to its unregulated counterpart – there has been a slight increase in dollars’ value relative to last session. Specifically speaking: from ₦817/$ yesterday; it now trades at ₦818/$ today. The Custom trading window still maintains its rate of ₦783/$.

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Following Monday’s trade activities on the Autonomous Foreign Exchange Market (NAFEM), Naira gained 5.26 per cent as against Friday’s quote of N791.75; with $176.75 million recorded as daily FX turnover – up by 12.02% compared with Friday’s volume ($157.78 millionthe .

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