• 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 Breaking News

Exchange rate hits all time low of N1,152 at P2P, N999/$1 at NAFEM

Chike Olisah by Chike Olisah
October 19, 2023
in Breaking News, Currencies, Spotlight
Naira, Dollar
Share on FacebookShare on TwitterShare on Linkedin

The exchange rate between the naira and dollar hit an all-time low of N999/$1 during trading on October 19th, 2023.

This is according to intr-trading data from the FMDQ where forex is sold officially via the NAFEM.

Sources indicate this is the current intra-day high and could close lower when the market closes later in the afternoon.

RelatedStories

Why did Legend Internet shares gain 32% in just one week? 

Why did Legend Internet shares gain 32% in just one week? 

June 16, 2025
Zest: Revolutionizing Business Payments with Customized Solutions 

Zest: Revolutionizing Business Payments with Customized Solutions 

June 16, 2025

Meanwhile, early afternoon trading on the black market P2P where forex is traded unofficially via cryptocurrency indicates the exchange rate is being quoted for N1,152/$1, suggesting the exchange rate is continuing with its steady decline.

Final closing exchange rate data from the FMDQ NAFEM indicate the closing rate was N782.68 on Thursday continuing with the appreciation recorded a day earlier. The exchange rate plummeted to N848/$1 on Tuesday marking the single largest fall ever for the official market.

The intra-day low was also N701/$1 and daily turnover was $97.47 million on the day.

A check on p2P websites on Thursday evening reveals the exchange rate quoted for as low as N1,170 from the N1,152 reported earlier.

Recall earlier in the week, the Central Bank of Nigeria (CBN) announced a significant change in the terminology used within the Nigerian Foreign Exchange (FX) market aka NAFEM as apart of its plans to have a single exchange rate market.

 

Chike Olisah

Chike Olisah

Chike was a banker with over 11 years experience in retail and commercial banking, risk management, treasury portfolio management and relationship management. He also acquired some experience in financial management and do have some special interest in investment analysis and personal finance. He had stints with financial institutions like the former Intercontinental Bank and Fidelity Bank.

Related Posts

Why did Legend Internet shares gain 32% in just one week? 
Company Results

Why did Legend Internet shares gain 32% in just one week? 

June 16, 2025
Zest: Revolutionizing Business Payments with Customized Solutions 
Companies

Zest: Revolutionizing Business Payments with Customized Solutions 

June 16, 2025
Bank customers with CBN rise to 57 million in April 2023
Business News

Emefiele earned N350 million annually as CBN governor, court document reveals 

June 16, 2025
Latest crude oil price drop threatens Nigeria’s revenue and naira stability 
Energy

Nigeria Oil at highest levels in 2025, boosted by Israel-Iran Battle      

June 16, 2025
Trump hosts exclusive dinner for top meme coin investors amid controversy 
"Japa"

Nigeria, 35 other countries at risk as U.S. plans major expansion of travel ban list 

June 16, 2025
President Tinubu reacts to Port Harcourt Refinery revival, orders reactivation of Warri, Kaduna Plants 
Features

CBN Forbearance: Six Nigerian Banks face risk of lower profits, dividends

June 16, 2025
Next Post
Forex trade

Obituary: Olabode Agusto, founder of Nigeria’s first credit rating agency dies at 68 

Comments 2

  1. Chinedu Okoye says:
    October 19, 2023 at 2:13 pm

    https://zeroequilibrium.blogspot.com/2023/10/potential-economic-effects-on-remoal-on.html?m=1

    Asper my thoughts 👆🏾, this policy reversal on the ban of Forex Sales to importers of the 41 goods. Naira essentially goes into a free fall.

    Reply
    • res non verba says:
      October 19, 2023 at 6:26 pm

      “Prioritizing essential goods importers in the distribution of Foreign Exchange at the official FX Windows, such as Petroleum Motor Spirit, is crucial. Oil Marketers Association, for example, has called for a subsidized exchange rate at N600/$1 to maintain prices at N613 per liter.”

      So, essentially, you are proposing the reintroduction of the fuel subsidy, but rather than incorporating it as a component of fiscal policy through the NNPC, you’re suggesting facilitating it through a deliberate manipulation of the exchange rate and monetary policy via the CBN?

      Reply

Leave a Reply Cancel reply

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

Emple
nlng
first bank
Zenth Bank








DUNS

Recent News

  • Why did Legend Internet shares gain 32% in just one week? 
  • Zest: Revolutionizing Business Payments with Customized Solutions 
  • Emefiele earned N350 million annually as CBN governor, court document reveals 

Follow us on social media:

Recent News

Why did Legend Internet shares gain 32% in just one week? 

Why did Legend Internet shares gain 32% in just one week? 

June 16, 2025
Zest: Revolutionizing Business Payments with Customized Solutions 

Zest: Revolutionizing Business Payments with Customized Solutions 

June 16, 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