One dollar is now trading at an average rate of N766 at the parallel market popularly known as black market.
The current rate shows a depreciation of naira against the dollar by 0.52 percent (N4) when compared with N762 traded during the intraday foreign exchange (FX) trading on Thursday.
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The depreciation of the naira followed a strong demand for dollars by the end user for various FX needs, such as school fees, medical, importation and travel allowances.
At the Investors and Exporters (I&E) forex window, Naira also depreciated by 0.07 percent as the dollar was quoted at N463.67 on Thursday as against the last close of N463.33 on Wednesday, data from the FMDQ indicated.
Hope Moses-Ashike
Hope Moses-Ashike is an Associate Editor, Banking and Finance, with more than a decade of experience reporting on Nigeria’s financial system and broader economy. She closely tracks market movements, monetary policy decisions, company disclosures, regulatory actions, economic indicators, and global developments, and interprets what they mean for businesses, investors, policymakers, and households. Her reporting helps readers understand complex issues such as inflation trends, foreign exchange market dynamics, interest rate decisions, bank performance, and investment risks.
She also covers major international events and periodically travels to Washington, D.C., to report on the World Bank/IMF Spring and Annual Meetings.
Her dedication to financial journalism has earned her multiple recognitions and invitations to high-level professional development programmes. She is an alumna of the International Visitors Leadership Programme (IVLP) in the United States and holds an Advanced Financial Journalism Certificate from the Press Association Training in London, UK. Her other notable achievements include completing the Lagos Business School CMC Programme, the Bloomberg Media Africa Initiative Programme, and a Master Class in Journalism at Rhodes University in South Africa.
