• Login
  • Register
Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
Nairametrics
No Result
View All Result
Home Markets Currencies

Naira falls to N609/$1 at black market as forex liquidity remains low

Samuel Oyekanmi by Samuel Oyekanmi
May 26, 2022
in Currencies
Naira falls to N705/$ at black market
Share on FacebookShare on TwitterShare on Linkedin

Wednesday, 25th May 2022: The exchange rate between the naira and the US dollar closed at N418/$1 at the Investors and Exporters (I&E) window.

Naira recorded a 0.24% gain against the US dollar on Wednesday to close at N418/$1 compared to N419/$1 recorded as of the close of trading activities on Tuesday, 24th May 2022. Also, a total of $108.33 million in FX exchanged hands in the market on Wednesday, representing a 24.43% increase compared to $87.06 million traded in the previous session.

Exchange rate at the peer-to-peer market declined further by 0.07% to trade at $608.55 on Thursday morning, compared to N608.12/$1 recorded as of the same time the previous day. The market has already seen the naira depreciate by 0.39% since the CBN announced the increase in interest rates.

RelatedStories

Naira , dollar, exchange rate

Forex market volatility: Naira becoming the most unpredictable currency in the world – BDC operators

March 23, 2025
Naira , dollar, exchange rate

Exchange rate volatility: Government payments fueling rising dollar demand – BDC operators

March 10, 2025

Meanwhile, the exchange rate at the parallel market closed at N609/$1 on Wednesday, a 0.66% downturn compared to N605/$1 recorded in the previous trading session. Recall that the exchange rate fell sharply last week as FX liquidity tightened in the market. This is according to information obtained from BDCs operating in Nigeria.

Nigeria’s external reserves depreciated further by 0.07% on Tuesday to stand at $38.63 billion from $38.65 billion recorded as of the previous day. The decline in the external reserve level can be attributed to the continuous intervention by the Central Bank in the FX market in order to ensure the stability of the local currency.

Trading at the official NAFEX window

Naira recorded a second successive gain against the US dollar on Wednesday, with a 0.24% appreciation to close at N489/$1, its highest level in almost three weeks.

  • The opening indicative rate closed at N417.79/$1 on Wednesday, 25th May 2022, a 21 kobo appreciation compared to N418/$1 recorded in the previous trading session.
  • Furthermore, an exchange rate of N444/$1 was the highest rate recorded during intra-day trading before it settled at N418/$1, while it sold for as low as N413/$1 during intra-day trading.
  • A total of $108.33 million in FX value was traded on Wednesday, representing a 15.69% increase compared to $87.06 million traded on Tuesday

Crypto market update

The crypto market recorded a marginal decline on Wednesday, closing with a 0.07% drop in market capitalization to stand at $1.252 trillion as of 23:09 (WAT). Although bitcoin recorded a 0.5% increase in price to trade at $29,788.51, Ethereum lost ground by 0.72% to trade at $1,963.

While Uniswap and Terra bother gained 0.36% and 5.62% to trade at $5.62 and $0.000186 respectively on Wednesday, Solana recorded a 2.06% price decline to trade at $48.605.


Follow us for Breaking News and Market Intelligence.
Tags: forexI&E windowNAFEX
Samuel Oyekanmi

Samuel Oyekanmi

For further inquiries about this article, contact: Email: samuel.oyekanmi@nairametrics.com Twitter: @OYEKANMISAMUEL Linkedln: Samuel Oyekanmi

Related Posts

Naira , dollar, exchange rate
Currencies

Forex market volatility: Naira becoming the most unpredictable currency in the world – BDC operators

March 23, 2025
Naira , dollar, exchange rate
Currencies

Exchange rate volatility: Government payments fueling rising dollar demand – BDC operators

March 10, 2025
How Much Is Your N1 Million Investment Worth in Forex vs Equities vs Bonds?
Digital Media

How Much Is Your N1 Million Investment Worth in Forex vs Equities vs Bonds?

March 6, 2025
5 Consumer stocks you should consider for your portfolio 
Financial Literacy

How much is your N1 Million investment worth in forex vs. equities vs. bonds? 

January 14, 2025
How Currency Flunctuations Shape Your Life
Digital Media

How Currency Flunctuations Shape Your Life

December 12, 2024
Why The Naira Is Gaining Against The Dollar.
Digital Media

Why The Naira Is Crashing Again

December 12, 2024
Next Post
CBN reduces over-the-counter withdrawals to N100k, N500k per week for individuals, companies

What it takes to remove a governor of the Central Bank of Nigeria

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Emple
nlng
first bank








DUNS

Recent News

  • BREAKING: GTCO targets East Asia expansion, no plans for US 
  • GTCO lists 2.28 billion Public Offer shares on NGX after London debut, discloses price 
  • Lagos Govt reopens Purple Mall after fatal car fall incident 

Follow us on social media:

Recent News

Top 5 highest paid bank CEOs of 2022 

BREAKING: GTCO targets East Asia expansion, no plans for US 

July 10, 2025
GTCO to write off Aiteo loan and switch to aggressive recovery plan

GTCO lists 2.28 billion Public Offer shares on NGX after London debut, discloses price 

July 10, 2025
  • iOS App
  • Android App
  • Contact Us
  • Home
  • Markets
  • Sectors
  • Economy
  • Business News
  • Financial Literacy
  • Disclaimer
  • Ads Disclaimer
  • Copyright Infringement

© 2025 Nairametrics

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Social Media Auto Publish Powered By : XYZScripts.com
No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Login
  • Sign Up

© 2025 Nairametrics