On October 17, 2023, Nigeria’s currency exchange rates exhibited fluctuations across various international currencies. This article provides a detailed analysis of the rates for the US Dollar, British Pound, Euro, Swiss Franc, Japanese Yen, West African CFA Franc, West African Unit of Account, Saudi Riyal, and Danish Krone.
US DOLLAR (USD)
The US Dollar’s exchange rates on this date were as follows:
- Buying Rate: 774.436 NGN
- Central Rate: 774.936 NGN
- Selling Rate: 775.436 NGN
This indicates a slight variance between buying and selling rates, reflecting market dynamics and demand for the US Dollar in Nigeria.
POUNDS STERLING (GBP)
For the British Pound, the exchange rates were:
- Buying Rate: 943.263 NGN
- Central Rate: 943.872 NGN
- Selling Rate: 944.481 NGN
The Pound Sterling showed a similar pattern of marginal differences between buying and selling rates.
EURO (EUR)
The Euro’s rates on October 17, 2023:
- Buying Rate: 819.121 NGN
- Central Rate: 819.6498 NGN
- Selling Rate: 820.1787 NGN
A consistent trend is observed across these rates, indicating stability in Euro transactions.
SWISS FRANC (CHF)
The Swiss Franc’s performance:
- Buying Rate: 860.1022 NGN
- Central Rate: 860.6575 NGN
- Selling Rate: 861.2128 NGN
Slight variations between buying and selling rates demonstrate the nuanced dynamics of the Swiss Franc in Nigeria’s currency market.
YEN (JPY)
Japanese Yen rates on October 17, 2023:
- Buying Rate: 5.1722 NGN
- Central Rate: 5.1756 NGN
- Selling Rate: 5.1789 NGN
The Yen’s exchange rates highlight the precision in the valuation of this currency against the Naira.
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CFA FRANC (XOF)
Rates for the West African CFA Franc:
- Buying Rate: 1.2086 NGN
- Central Rate: 1.2186 NGN
- Selling Rate: 1.2286 NGN
The CFA Franc maintains a relatively stable position against the Naira.
WAUA
West African Unit of Account rates:
- Buying Rate: 1000.7707 NGN
- Central Rate: 1001.4169 NGN
- Selling Rate: 1002.063 NGN
The WAUA exhibits robust valuation against the Naira.
RIYAL (SAR)
Saudi Riyal’s rates:
- Buying Rate: 206.4557 NGN
- Central Rate: 206.589 NGN
- Selling Rate: 206.7223 NGN
The Riyal maintains a stable position, reflecting its consistency in the Nigerian market.
DANISH KRONA (DKK)
For the Danish Krone:
- Buying Rate: 109.7806 NGN
- Central Rate: 109.8514 NGN
- Selling Rate: 109.9223 NGN
The Danish Krone’s exchange rates portray a balanced valuation against the Naira.
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In conclusion, the currency exchange rates in Nigeria on October 17, 2023, depict a nuanced landscape with subtle variations between buying and selling rates. This analysis provides insights into the performance of key international currencies in Nigeria’s dynamic financial market.
