Exchange Rate Today, 4th November, Dollar at N870, Pound at N1000

The dollar to naira exchange rate further fell on the black market today Friday, 4th November 2022, trading at an average of N870/$1, representing a decline of 6.13% when compared to N820/$1 recorded in the previous trading session.

The Pound Sterling to Naira exchange also surged to N1000 at the parallel market representing a N5 slump for the local currency considering the preceding session traded at N955.

This is according to currency traders in Lagos and Ibadan.

The exchange rate on the peer-to-peer FX market also slumped against the US dollar on Friday morning, trading at a minimum of N873.44/$1. Compared to N846.8/$1 which it traded at the same moment on Thursday, November 3, 2022, this shows a devaluation of 3.15 percent.

READ ALSO: Dollar To Naira Rate Today, 28th October 2022

The same story applied in the Central Bank of Nigeria (CBN) currency exchange segment, as the American dollar stood at N439.88 yesterday, in contrast to N439.67 it stood on Wednesday, revealing the local currency fell by 0.05 per cent.

However, in the Investor and Exporters (I & E) market, the Naira appreciated by 24 Kobo or 0.06 per cent to settle at N445.76/$1 compared with the previous day’s N446/$1, as the turnover for the session stood at $166.88 million. The opening indicative rate closed at N443.58/$1 on Thursday, 3rd November 2022.