Naira gains further at the black market, trades at N736/$1 on 30th December 2022 

See 2023 exchange rates

Naira gains further at the black market, trades at N736/$1 on 30th December 2022

The exchange rate between the naira and the US dollar appreciated on Friday morning, 30th December 2022 at the black market, trading at an average of N736/$1, a 0.27% improvement from N738/$1 recorded in the previous trading session. 

This is according to information from black market traders who spoke to Nairametrics. 

RelatedStories

Naira gasps for breath on the black market, trading at N1,750/$

November 20, 2024

Nigeria targets record fiscal deficit of N13 trillion in 2025, blames new minimum wage, pensions others 

November 17, 2024

On the other hand, the exchange rate at the P2P cryptocurrency Exchange depreciated on Friday morning, trading at a minimum of N735.42/$1, compared to N733.4/$1 recorded yesterday. 

Meanwhile, the rate of exchange at the official investors and exporters (I&E) window depreciated slightly on Thursday, 29th December 2022, representing the lowest rate recorded at the official market on record. 

A total of $142.19 million was traded at the exchange on Thursday, a decline of 27.48% compared to the $196.06 million that exchanged hands on Wednesday. Nigeria’s external reserve stood at $37.075 billion as of 28th December 2022, an increase of 0.29% from the $36.966 billion recorded as of the previous day. 

Trading at the official NAFEX window 

The exchange rate at the official market closed at N461.67/$1 on Thursday, 29th December 2022, representing a 0.07% depreciation from N461.33/$1 recorded on Wednesday. 

• The opening indicative rate closed at N454.5/$1 on Thursday, 29th December 2022. 
• Furthermore, an exchange rate of N462/$1 was the highest rate recorded during intra-day trading before it settled at N461.67/$1, while it traded for as low as N440/$1 during intra-day trading. 
• A sum of $142.19 million in FX value exchanged hands at the I&E window on Thursday, which is 27.48% lower when compared to the $196.06 million that was traded in the previous session. 

Naira grows stronger at the black market, trades at N738/$1 on 29th December 2022

The exchange rate between the naira and the US dollar strengthened on Thursday morning, 29th December 2022 at the black market, trading at an average of N738/$1 from N740/$1 recorded in the previous trading session.

This is according to information from black market traders who spoke to Nairametrics.

In the same vein, the exchange rate at the P2P cryptocurrency Exchange gained on Thursday morning, trading at a minimum of N733.4/$1 compared to N739/$1 recorded yesterday.

Meanwhile, the rate of exchange at the official importer and exporter (I&E) window depreciated on Wednesday, 28th December 2022 to close at N461.33/$1, which is the lowest ever rate at the official market on record.

A total of $196.06 million was traded at the exchange on Wednesday, a 25.79% increase compared to the $155.86 million that exchanged hands last week Friday.

Nigeria’s external reserve stood at $36.97 billion as of 23rd December 2022, an increase of 0.04% from the $36.95 billion recorded as of the previous day.

Trading at the official NAFEX window

The exchange rate at the official market closed at N461.33/$1 on Wednesday, 28th December 2022, representing a 1.06% depreciation from N456.5/$1 recorded last week Friday.

• The opening indicative rate closed at N452.88/$1 on Wednesday, 28th December 2022.
• Furthermore, an exchange rate of N462/$1 was the highest rate recorded during intra-day trading before it settled at N461.33/$1, while it traded for as low as N440/$1 during intra-day trading.
• A sum of $196.86 million in FX value exchange hands at the I&E window on Wednesday, which represents a 25.8% increase compared to $155.86 million that was traded in the previous session.

Black market exchange rate remains stable at N740/$1 on 27th December 2022

The exchange rate between the naira and the dollar at the black market remained stable through the Christmas celebration, trading at an average of N740/$1 on Tuesday, 27th December 2022. 

This is according to information from black market traders who spoke to Nairametrics. 

Also, the naira maintained the same rate at the P2P cryptocurrency Exchange on Tuesday morning, trading at a minimum of N739/$1, the same as recorded last week Friday. 

On the other hand, the rate of exchange at the official importer and exporter window depreciated on Friday, 23rd December 2022 to close at N456.5/$1, 0.05% downturn compared to N456.25/$1 that was recorded in the previous trading session. 

Meanwhile, a total of $155.86 million was traded at the exchange on Friday, recording a 39.95% increase compared to the $111.37 million that exchanged hands on Thursday, 22nd December 2022. 

Nigeria’s external reserve stood at $36.95 billion as of 22nd December 2022, an increase of 0.02% from the $36.947 billion recorded as of the previous day. 

Trading at the official NAFEX window 

The exchange rate at the official market closed at N456.5/$1 on Friday, 23rd December 2022, representing a 0.05% depreciation from N456.25/$1 recorded on Thursday. 

• The opening indicative rate closed at N451.38/$1 on Friday, 23rd December 2022. 

• Furthermore, an exchange rate of N452/$1 was the highest rate recorded during intra-day trading before it settled at N456.5/$1, while it traded for as low as N440/$1 during intra-day trading. 
• A sum of $155.86 million in FX value exchange hands at the I&E window on Friday, which represents a 39.95% increase compared to $111.37 million that was traded in the previous session. 

Naira strengthens at black market, trades at N740/$1 on 23rd December 2022

The exchange rate between the naira and the dollar at the black market appreciated by 0.4% to trade at N740/$1 on Friday, 23rd December 2022 from N743/$1 recorded in the previous trading session. 

This is according to information from black market traders who spoke to Nairametrics. A cursory look at the Nairametrics FX tracker showed that the exchange rate hit its strongest level since 8th December 2022 when it converted for N750/$1. 

Also, the naira strengthened against the US dollar at the P2P cryptocurrency Exchange with a 0.42% appreciation from N742.1/$1 recorded on Thursday morning to trade at a minimum of N739/$1 on Friday morning.  

In the same vein, the exchange at the official importer and exporter window appreciated on Thursday, 22nd December 2022 to close at N456.25/$1 from N456.33/$1 that was recorded in the previous trading session.  

Meanwhile, there was a 70.5% decrease in the amount of FX that was traded at the official market. A total of $111.37 million was traded at the exchange on Thursday, compared to the $377.48 million that exchanged hands on Wednesday, 21st December 2022. 

Nigeria’s external reserve stood at $36.947 billion as of 21st December 2022, a slight increase from the $36.945 billion recorded as of the previous day. 

Trading at the official NAFEX window 

The exchange rate at the official market closed at N456.33/$1 on Thursday, 22nd December 2022, representing a 0.02% appreciation from N456.33/$1 recorded on Wednesday. 

• The opening indicative rate closed at N452.5/$1 on Thursday, 22nd December 2022. 
• Furthermore, an exchange rate of N452/$1 was the highest rate recorded during intra-day trading before it settled at N456.25/$1, while it traded for as low as N440/$1 during intra-day trading. 

• A sum of $111.37 million in FX value exchange hands at the I&E window on Thursday, which represents a 70.5% decrease compared to $377.48 million that was traded in the previous session. 

Black market exchange rate appreciates to N743/$1 on 22nd December 2022

The exchange rate between the naira and the dollar at the black market appreciated by 0.27% to trade at N743/$1 on Thursday, 22nd December 2022 from N745/$1 recorded in the previous trading session. 

This is according to information from black market traders who spoke to Nairametrics.  

Also, the naira strengthened against the US dollar at the P2P cryptocurrency Exchange with a 0.32% appreciation from N744.45/$1 recorded on Wednesday morning to trade at a minimum of N742.1/$1 on Thursday morning.  

On the flip side, the exchange at the official importer and exporter window depreciated further on Wednesday to close at N456.33/$1 on Wednesday 21st December 2022 from N452.67/$1 that was recorded in the previous trading session. This represents the lowest level on record. 

However, there was a 181.62% increase in the amount of FX that was traded at the official market. A total of $377.48 million was traded at the exchange on Wednesday, compared to the $134.04 million that exchanged hands on Tuesday, 20th December 2022. 

Nigeria’s external reserve stood at $36.95 billion as of 20th December 2022, a slight increase from the $36.94 billion recorded as of the previous day. 

Trading at the official NAFEX window 

The exchange rate at the official market closed at N356.33/$1 on Wednesday, 21st December 2022, representing a 0.81% depreciation from N452.67/$1 recorded on Tuesday. 

• The opening indicative rate closed at N449.75/$1 on Wednesday, 21st December 2022. 
• Furthermore, an exchange rate of N452/$1 was the highest rate recorded during intra-day trading before it settled at N456.33/$1, while it traded for as low as N435/$1 during intra-day trading. 

• A sum of $377.48 million in FX value exchange hands at the I&E window on Wednesday, which represents a 181.62% increase compared to $134.04 million that was traded in the previous session. 

Black market exchange rate falls to N750/$1 on 8th December 2022

Trading at the official NAFEX window

• The opening indicative rate closed at N444.25/$1 on Wednesday, 7th December 2022.
• Furthermore, an exchange rate of N452/$1 was the highest rate recorded during intra-day trading before it settled at N445.83/$1, while it traded for as low as N426/$1 during intra-day trading.
• A sum of $127.78 million in FX value was traded at the Investors and Exporters, a 19.13% decrease compared to $180.29 million that exchanged hands in the previous session.

The exchange rate between the naira and the US dollar closed at an average of N738/$1 on Wednesday, 7th December 2022 at the black market, depreciating marginally by 0.41% from N735/$1 recorded in the past three trading sessions.

This is according to information from black market traders who spoke to Nairametrics.

Also, naira recorded a 0.36% depreciation against the US dollar at the P2P cryptocurrency exchange, trading at a minimum of N747/$1 on Wednesday, compared to N737/$1 recorded on Tuesday, 6th December 2022.

Similarly, the exchange rate at the official Investors and Exporters window recorded a slight depreciation of 0.11% to close at N445.8/$1 from N445.33/$1 recorded on Monday. On the other hand, forex turnover surged by 200.18% to $180.29 million on Tuesday from the $60.06 million exchanged hands on Monday.

Nigeria’s external reserve dipped further on Tuesday, 6th December 2022 to stand at $36.97 billion, representing a 0.08% decline compared to $36.99 billion recorded as of the previous day.

Trading at the official NAFEX window

The exchange rate at the official market closed at N445.8/$1 on Tuesday, 6th December 2022, representing a 0.11% depreciation compared to N445.33/$1 recorded in the previous trading session.

• The opening indicative rate closed at N444.2/$1 on Tuesday, 6th December 2022.
• Furthermore, an exchange rate of N447/$1 was the highest rate recorded during intra-day trading before it settled at N445.8/$1, while it traded for as low as N440/$1 during intra-day trading.
• A sum of $180.29 million in FX value was traded at the Investors and Exporters, a 200.18% increase compared to $60.06 million that exchanged hands in the previous session.

Black market exchange rate closes flat at N735/$1 on 6th December 2022

The exchange rate between the naira and the US dollar closed at an average of N735/$1 on Tuesday, 6th December 2022 at the black market, the same as recorded in the last two trading sessions.

This is according to information from black market traders who spoke to Nairametrics.

In the same vein, the exchange rate at the official Investors and Exporters window remained stable, closing at N445.33/$1 on Monday. However, forex turnover decreased by 62.23% to $60.06 million on Monday from the $159.02 million traded on 2nd December 2022.

Meanwhile, naira recorded a 0.27% depreciation against the US dollar at the P2P cryptocurrency exchange, trading at a minimum of N737/$1 on Tuesday, compared to N735/$1 recorded on Monday, 5th December 2022.

Nigeria’s external reserve dipped further on Monday, 2nd December 2022 to stand at $37.08 billion, representing a 0.08% decline compared to $37.10 billion recorded as of the previous day.

Trading at the official NAFEX window

The exchange rate at the official market closed at N445.33/$1 on Monday, 2nd December 2022, same as recorded on Friday last week.

• The opening indicative rate closed at N444.5/$1 on Monday, 2nd December 2022.
• Furthermore, an exchange rate of N447/$1 was the highest rate recorded during intra-day trading before it settled at N445.33/$1, while it traded for as low as N440/$1 during intra-day trading.
• A sum of $60.06 million in FX value was traded at the Investors and Exporters, a 62.23% increase compared to $159.02 million that exchanged hands in the previous session.

Black market exchange rate closes at N735/$1 on 5th December 2022

The exchange rate between the naira and the US dollar closed at an average of N735/$1 on Monday, 5th December 2022 at the black market, the same as recorded last week Friday

This is according to information from black market traders who spoke to Nairametrics.

Naira recorded a marginal gain at the P2P cryptocurrency exchange, trading at a minimum of N735/$1 on Monday afternoon, representing a 0.44% appreciation compared to N738.25/$1 recorded on Friday, 2nd December 2022.

Also, the exchange rate at the official Investors and Exporters window appreciated on Friday, closing at N445.33/$1 compared to N445.83/$1 recorded in the previous session. On the other hand, forex turnover surged by 59.8% to $159.02 million on the day under review.

Nigeria’s external reserve dipped further on Friday, 1st December 2022 to stand at $37.1 billion, representing a 0.02% decline compared to $37.11 billion recorded in the previous day.

Trading at the official NAFEX window

The exchange rate at the official market closed at N445.33$1 on Friday, 1st December 2022, a 0.11% improvement from N445.83/$1 recorded on Thursday

• The opening indicative rate closed at N444.75/$1 on Friday, 1st December 2022.
• Furthermore, an exchange rate of N447/$1 was the highest rate recorded during intra-day trading before it settled at N445.33/$1, while it traded for as low as N440/$1 during intra-day trading.
• A sum of $159.02 million in FX value was traded at the Investors and Exporters, a 59.8% increase compared to $99.5 million that exchanged hands in the previous session.

Naira gains to N735/$1 at the black market on 2nd December 2022

The exchange rate between the naira and the US dollar closed at an average of N735/$1 on Friday, 2nd December 2022 at the black market, representing a 0.68% gain compared to the previous day rate, and its strongest level in three weeks.

This is according to information from black market traders who spoke to Nairametrics.

Also, the value of the naira appreciated against the US dollar at the cryptocurrency peer-to-peer market, closing at a minimum of N738.25/$1 on Friday, representing a 0.64% gain from N743/$1 recorded on Thursday, 1st December 2022.

Meanwhile, the exchange rate at the official Investors and Exporters window appreciated marginally on Friday, closing at N445.33/$1 compared to N445.83/$1 recorded in the previous session. On the other hand, forex turnover surged by 59.8% to $159.02 million on the day under review.

Nigeria’s external reserve dipped further for the seventh consecutive day on Wednesday, 30th November 2022, declining by 0.013% to stand at $37.11 billion from $37.12 billion recorded as of the previous day.

Trading at the official NAFEX window

The exchange rate at the official market closed at N445.33$1 on Friday, 1st December 2022, a 0.11% improvement from N445.83/$1 recorded on Thursday

• The opening indicative rate closed at N444.75/$1 on Friday, 1st December 2022.
• Furthermore, an exchange rate of N447/$1 was the highest rate recorded during intra-day trading before it settled at N445.33/$1, while it traded for as low as N440/$1 during intra-day trading.
• A sum of $159.02 million in FX value was traded at the Investors and Exporters, a 59.8% increase compared to $99.5 million that exchanged hands in the previous session.

Naira strengthens to N740/$1 at the black market on 1st December 2022

The exchange rate between the naira and the US dollar closed at an average of N740/$1 on Thursday, 1st December 2022 at the black market, representing a 3.52% gain compared to the previous day rate, and its strongest level in three weeks.

This is according to information from black market traders who spoke to Nairametrics.

Also, the value of the naira appreciated against the US dollar at the cryptocurrency peer-to-peer market, closing at a minimum of N743/$1 on Thursday afternoon, representing a 1.8% gain from N757/$1 recorded on Wednesday, 30th November 2022.

Meanwhile, naira closed flat against the US dollar on Wednesday, 30th November 2022 at N445.3/$1 at the official Investors and Exporters window, the same as recorded in the previous session. A sum of $177.44 million was traded at the official market on Wednesday, which is 63.81% higher than the $108.32 million traded on Tuesday.

Nigeria’s external reserve dipped further for the fifth consecutive day on Monday, 28th November 2022, declining by 0.13% to stand at $37.12 billion from $37.17 billion recorded as of the previous day.

Trading at the official NAFEX window

The exchange rate at the official market closed at N445.3$1 on Wednesday, 30th November 2022, maintaining the same rate as the previous day.

• The opening indicative rate closed at N444.25/$1 on Wednesday, 30th November 2022.
• Furthermore, an exchange rate of N447/$1 was the highest rate recorded during intra-day trading before it settled at N445.3/$1, while it traded for as low as N440/$1 during intra-day trading.
• A sum of $177.44 million in FX value was traded at the Investors and Exporters, a 63.81% increase compared to $108.32 million that exchanged hands in the previous session.

Black market exchange rate rises to N767/$1 on 30th November 2022

The exchange rate between the naira and the US dollar closed at an average of N767/$1 on Wednesday, 30th November 2022 at the black market, representing a 0.39% appreciation as against N770/$1 recorded on Tuesday.

This is according to information from black market traders who spoke to Nairametrics.

Also, the value of the naira appreciated against the US dollar on Wednesday at the cryptocurrency peer-to-peer market, closing at a minimum of N757/$1. This represents a 1.3% gain from N767/$1 that was recorded in the previous trading session.

On the other hand, naira depreciated against the US dollar on Tuesday, 29th November 2022 to close at N445.3/$1 at the I&E window, representing a 0.13% downturn from N444.7/$1 recorded in the previous trading session. A total of $108.32 million was traded at the official market on Tuesday, which is 44.47% higher than the $74.98 million traded on Monday.

Nigeria’s external reserve dipped further for the fifth consecutive day on Monday, 28th November 2022, declining by 0.13% to stand at $37.12 billion from $37.17 billion recorded as of the previous day.

Trading at the official NAFEX window

The exchange rate at the official market closed at N445.3$1 on Tuesday, 29th November 2022, representing a 0.13% depreciation compared to the closing rate of N444.7/$1 recorded in the previous trading session.

• The opening indicative rate closed at N444.17/$1 on Tuesday, 29th November 2022.
• Furthermore, an exchange rate of N447.39/$1 was the highest rate recorded during intra-day trading before it settled at N445.3/$1, while it traded for as low as N432/$1 during intra-day trading.
• A total of $108.32 million in FX value was traded at the Investors and Exporters, a 44.47% increase compared to $74.98 million that exchanged hands in the previous session.

Black market exchange rate appreciates to N770/$1 on 29th November 2022 

The exchange rate between the naira and the US dollar closed at an average of N770/$1 on Tuesday, 29th November 2022 at the black market, representing a 0.39% appreciation as against N773/$1 recorded on Monday.

This is according to information from black market traders who spoke to Nairametrics. 

In the same vein, the value of the naira improved against the US dollar at the cryptocurrency peer-to-peer market, closing at a minimum of N767/$1, appreciating by 1.26% from N776.9/$1 that was recorded in the previous trading session. 

Also, naira appreciated against the US dollar on Monday, 28th November 2022 to close at N444.7/$1 at the I&E window, representing a 0.37% appreciation from N446.33/$1 recorded in the previous trading session. A total of $74.98 million was traded at the official market on Monday, which is 36.06% lower than the $117.26 million traded last week Friday. 

Nigeria’s external reserve dipped further for the fourth consecutive day on Friday last week, it declined by 0.02% to stand at $37.17 billion from $37.18 billion recorded as of the previous day. 

Trading at the official NAFEX window 

The exchange rate at the official market closed at N444.7/$1 on Monday, 28th November 2022, representing a 0.37% appreciation compared to the closing rate of N446.33/$1 recorded in the previous trading session. 

• The opening indicative rate closed at N444.1/$1 on Monday, 28th November 2022. 
• Furthermore, an exchange rate of N447.5/$1 was the highest rate recorded during intra-day trading before it settled at N444.7/$1, while it traded for as low as N440/$1 during intra-day trading. 
• A total of $74.98 million in FX value was traded at the Investors and Exporters, a 36.06% reduction compared to $117.26 million that exchanged hands in the previous session. 

Black market exchange rate appreciates to N773/$1 on 28th November 2022

The exchange rate between the naira and the US dollar closed at an average of N773/$1 on Monday, 28th November 2022 at the black market, representing a 0.64% appreciation as against N778/$1 recorded last week Friday. 

This is according to information from black market traders who spoke to Nairametrics. 

Also, the naira improved against the US dollar on Monday at the cryptocurrency peer-to-peer market, closing at a minimum of N776.8/$1. This is a 0.15% appreciation from N777.99/$1 that was recorded in the previous trading session. 

On the other hand, naira depreciated against the US dollar on Friday, 25th November 2022 to close at N446.33/$1 at the I&E window, which represents a 0.3% depreciation from N445/$1 recorded in the previous trading session. A total of $117.26 million was traded at the official market on Friday, which is 19.62% lower than the $145.89 million traded on Thursday. 

Nigeria’s external reserve dropped slightly by 0.01%, to stand at $37.181 billion as of 24th November 2022 in contrast to $37.186 billion recorded as of the previous day.  

Trading at the official NAFEX window 

The exchange rate at the official market closed at N446.33/$1 on Friday, 25th November 2022, representing a 0.3% depreciation compared to the closing rate of N445/$1 recorded in the previous trading session. 

• The opening indicative rate closed at N444.2/$1 on Friday, 25th November 2022. 
• Furthermore, an exchange rate of N447/$1 was the highest rate recorded during intra-day trading before it settled at N446.33/$1, while it traded as low as N439.99/$1 during intra-day trading. 

• A total of $117.26 million in FX value was traded at the Investors and Exporters, a 19.62% drop compared to $145.89 million that exchanged hands in the previous session 

Black market exchange rate appreciates to N772/$1 on 24th November 2022

The exchange rate between the naira and the US dollar closed at an average of N772/$1 on Thursday, 24th November 2022 at the black market, representing a 0.39% gain from N775/$1 recorded in the last two trading sessions.

This is according to information from black market traders who spoke to Nairametrics.

In the same vein, naira strengthened against the US dollar on Thursday at the cryptocurrency peer-to-peer market, closing at a minimum of N777/$1, representing a 0.24% appreciation from N778.9/$1 that was recorded in the previous trading session.

On the other hand, naira closed weaker against the US dollar at N446/$1 at the I&E window on Wednesday, which represents a 0.11% depreciation from N445.5/$1 recorded on Tuesday. Meanwhile, FX turnover at the official market surged by 95.25% to $145.89 million on Wednesday from $74.72 million that exchanged hands in the previous day.

Nigeria’s external reserve dropped slightly by 0.003%, to stand at $37.192 billion as of 22nd November 2022 when compared to $37.193 billion recorded as of the previous day. Nigeria’s foreign reserve level had gained for four consecutive days, before resuming its downtrend on Tuesday.

Trading at the official NAFEX window

The exchange rate at the official market closed at N446/$1 on Wednesday, 23rd November 2022, representing a decline of 0.11% from N445.5/$1 recorded in the previous trading day.

• The opening indicative rate closed at N444.14/$1 on Wednesday, 23rd November 2022.
• Furthermore, an exchange rate of N447/$1 was the highest rate recorded during intra-day trading before it settled at N446/$1, while it traded as low as N435/$1 during intra-day trading.
• A total of $145.89 million in FX value was traded at the Investors and Exporters window on Wednesday, which is 95.25% higher than the $74.72 million traded on Tuesday.

Black market exchange rate closes at N775/$1 on 23rd November 2022

The exchange rate between the naira and the US dollar closed flat at the black market on Wednesday, 23rd November 2022, trading at an average of N775/$1, the same as recorded in the previous trading session.

This is according to information from black market traders who spoke to Nairametrics.

Also, naira strengthened against the US dollar on Wednesday at the cryptocurrency peer-to-peer market, closing at N778.9/$1, representing a 0.68% appreciation from N784.2/$1 that was recorded in the previous trading session.

On the other hand, naira closed against the US dollar at N445.5/$1 at the I&E window on Tuesday, representing a 0.03% depreciation from N445.38/$1 recorded on Monday. Meanwhile, FX turnover at the official market reduced further by 10.59% to $74.72 million on Tuesday from $83.57 million that exchanged hands in the previous day.

Nigeria’s external reserve dropped slightly by 0.003%, to stand at $37.192 billion as of 22nd November 2022 when compared to $37.193 billion recorded as of the previous day.

Trading at the official NAFEX window

The exchange rate at the official market closed at N445.5/$1 on Tuesday, 22nd November 2022, representing a decline of 0.03% from N445.38/$1 recorded in the previous trading day.

• The opening indicative rate closed at N443.92/$1 on Tuesday, 22nd November 2022.
• Furthermore, an exchange rate of N447/$1 was the highest rate recorded during intra-day trading before it settled at N445.5/$1, while it traded as low as N431/$1 during intra-day trading.
• A total of $74.72 million in FX value was traded at the Investors and Exporters window on Tuesday, which is 10.59% lower than the $83.57 million traded on Monday.

Black market exchange rate gains further to N775/$1 on 22nd November 2022

The exchange rate between the naira and the US dollar appreciated at the black market on Tuesday, 22nd November 2022 to close at N775/$1. The exchange appreciated by 0.64% when compared to N780/$1 in the previous day’s trading activities.

This is according to information from black market traders who spoke to Nairametrics.

In the same vein, the local currency strengthened against the US dollar on Tuesday at the cryptocurrency peer-to-peer market, closing at N784.2/$1, representing a 0.355% improvement against N786.99/$1 that was recorded in the previous trading session.

Also, the naira closed against the US dollar at N445.38/$1 at the I&E window on Monday, representing a 0.07% appreciation from N445.67/$1 recorded in the previous trading activities. Meanwhile, FX turnover at the official market reduced by 15.33% to $83.57 million on Monday, from $98.7 million that was traded on Friday.

Nigeria’s external reserve improved slightly by 0.003%, to stand at $37.193 billion as of 21st November 2022 in comparison to $37.192 billion recorded as of the previous day.

Trading at the official NAFEX window

The exchange rate at the official market closed at N445.38/$1 on Monday, 21st November 2022, representing a slight Improvement from N445.67/$1 recorded in the previous trading day.

• The opening indicative rate closed at N444.08/$1 on Monday, 21st November 2022.
• Furthermore, an exchange rate of N447/$1 was the highest rate recorded during intra-day trading before it settled at N445.38/$1, while it traded as low as N440/$1 during intra-day trading.
• A total of $83.57 million in FX value was traded at the Investors and Exporters window on Monday, which is 15.33% lower than the $98.7 million traded on Friday.

Black market exchange rate closes flat at N780/$1 on 21st November 2022

The exchange rate between the naira and the US dollar remained stable at the black market on Monday, 21st November 2022 to close at N780/$1, the same rate recorded last week Friday.

This is according to information from black market traders who spoke to Nairametrics.

On the other hand, the naira depreciated against the US dollar on Monday at the cryptocurrency peer-to-peer market, closing at N786.99/$1, representing a depreciation of 0.896% when compared to N780/$1 that was recorded in the previous trading session.

Similarly, the naira closed against the US dollar at N445.67/$1 at the I&E window on Thursday, representing a 0.02% appreciation from N445.75/$1 recorded in the previous trading activities. Meanwhile, FX turnover at the official market declined by 18.4% to $98.7 million on Friday, from $121 million that was traded on Thursday.

Nigeria’s external reserve improved slightly by 0.003%, to stand at $37.192 billion as of 18th November 2022 when compared to $37.191 billion recorded as of the previous day.

Trading at the official NAFEX window

The exchange rate at the official market closed at N445.67/$1 on Friday, 18th November 2022, representing a slight increment of 0.02% from N445.75/$1 recorded in the previous trading day.

• The opening indicative rate closed at N444.42/$1 on Friday, 18th November 2022.
• Furthermore, an exchange rate of N447.5/$1 was the highest rate recorded during intra-day trading before it settled at N445.67/$1, while it traded as low as N439.99/$1 during intra-day trading.

A total of $98.7 million in FX value was traded at the Investors and Exporters window on Friday, which is 18.43% lower than the $121 million traded on Thursday

Exchange rate between naira and dollar appreciated at N780/$1 on 18th November 2022

The exchange rate between the naira and the US dollar appreciated by 1.27% to close at N780/$1 on Friday, 18th November 2022 from N790/$1 recorded on Thursday.

This is according to information from black market traders who spoke to Nairametrics.

Likewise, the naira grew stronger against the US dollar on Friday at the cryptocurrency peer-to-peer market, closing at N780/$1, representing an appreciation of 1.05% when compared to N788.28/$1 that was recorded in the previous trading session.

Similarly, the naira closed against the US dollar at N445.75/$1 at the I&E window on Thursday, which represents a 0.21% uptick from N446.67/$1 recorded in the previous trading activities. Meanwhile, FX turnover at the official market inclined by 40.03% to $121 million on Thursday, in contrast to $86.41 million that was traded on Wednesday.

Nigeria’s external reserve recorded a rare increase, gaining 0.03% to stand at $37.188 billion as of 16th November 2022 from $37.177 billion recorded as of the previous day.

Trading at the official NAFEX window

The exchange rate at the official market closed at N445.75/$1 on Thursday, 17th November 2022. This represents an improvement of 0.21% when compared to N446.67/$1 recorded in the previous trading day.

• The opening indicative rate closed at N444.4/$1 on Thursday, 17th November 2022.
• Furthermore, an exchange rate of N447/$1 was the highest rate recorded during intra-day trading before it settled at N445.75/$1, while it traded as low as N439.96/$1 during intra-day trading.
• A total of $121 million in FX value was traded at the Investors and Exporters window on Thursday, which is 40.03% higher than the $86.41 million traded on Wednesday.

P2P market exchange rate appreciates to N790.9/$1 on 17th November 2022

The exchange rate between the naira and the US dollar improved on Thursday, 17th November 2022, at the cryptocurrency peer-to-peer market to close at N790.9/$1. This exchange recorded an appreciation of 0.64% from N796/$1 that it closed on Wednesday. 

The rate of exchange between the local currency and the US dollar remained unchanged at the black market, closing at N790/$1, which is the same rate recorded in the previous trading session. This is according to information from black market traders who spoke to Nairametrics.  

Similarly, the naira closed against the US dollar at N446.67/$1 at the I&E window on Wednesday, the same as the previous day. Meanwhile, FX turnover at the official market appreciated by 1.79% to $86.41 million on Wednesday, when compared to $84.89 million that was traded on Tuesday.  

Nigeria’s external reserve dropped by 0.01% to stand at $37.17 billion as of 15th November 2022 from $37.18 billion recorded as of the previous day. 

Trading at the official NAFEX window 

The exchange rate at the official market closed at N446.67/$1 on Wednesday, 16th November 2022, which is the same as the rate recorded on the previous trading day. 

• The opening indicative rate closed at N443.88/$1 on Wednesday, 16th November 2022. 
• Furthermore, an exchange rate of N447/$1 was the highest rate recorded during intra-day trading before it settled at N446.67/$1, while it traded as low as N432/$1 during intra-day trading. 
• A total of $86.41 million in FX value was traded at the Investors and Exporters window on Wednesday, which is 1.79% higher than the $84.89 million traded on Tuesday. 

Black market exchange rate depreciates to N790/$1 on 16th November 2022

The exchange rate between the naira and the US dollar strengthened on Wednesday, 16th November 2022, closing at N790/$1 compared to N800/$1 recorded as of the close of trading activities on Tuesday. 

This is according to information from black market traders who spoke to Nairametrics. Although the exchange rate remains highly volatile with varying rates across markets. 

On the other hand, naira recorded a slight depreciation of 0.13% against the US dollar at the cryptocurrency peer-to-peer FX to close at N796/$1 on Wednesday, from N795/$1 recorded in the previous trading session.  

In the same vein, the naira closed against the US dollar at N446.67/$1 at the I&E window on Tuesday, representing a depreciation of 0.15% compared to N446/$1 recorded in the previous trading session. 

Meanwhile, FX turnover at the official market increased by 32.99% to $84.89 million on Tuesday, from $63.83 million that was traded on Monday. Nigeria’s external reserve fell by 0.06% to stand at $37.18 billion as of 14th November 2022 from $37.2 billion recorded as of the previous day. 

Trading at the official NAFEX window 

The exchange rate at the official market closed at N446.67/$1 on Tuesday, 15th November 2022. This represents a slight depreciation of 0.15% in contrast to N446/$1 recorded in the previous trading day. 

• The opening indicative rate closed at N443.9/$1 on Tuesday, 15th November 2022. 
• Furthermore, an exchange rate of N447/$1 was the highest rate recorded during intra-day trading before it settled at N446.67/$1, while it traded as low as N432/$1 during intra-day trading. 
• A total of $84.89 million in FX value was traded at the Investors and Exporters window on Tuesday, which is 32.99% higher than the $63.83 million traded on Monday. 

Black market exchange rate depreciates to N800/$1 on 15th November 2022

The exchange rate between the naira and the US dollar fell further for the second day in a row on Tuesday, 15th November 2022, closing at N800/$1. The exchange rate depreciated by 2.56% in contrast to N780/$1 recorded at the close of trading on Monday.

This is according to information from black market traders who spoke to Nairametrics. It is worth noting that the exchange rate varies across various locations and depends on the volume of transactions.

Similarly, naira recorded a slight depreciation of 0.89% against the US dollar at the cryptocurrency peer-to-peer FX to close at N795/$1 on Tuesday, from N788/$1 recorded in the previous trading session.

In the same vein, the naira closed against the US dollar at N446/$1 at the I&E window on Monday, representing a depreciation of 0.06% compared to N445.75/$1 recorded in the previous trading session.

Also, FX turnover at the official market dipped by 74.98% to $63.83 million on Monday, from $255.15 million that was traded on Friday. Nigeria’s external reserve fell by 0.05% to stand at $37.20 billion as of 11th November 2022 from $37.21 billion recorded as of the previous day.

Trading at the official NAFEX window

• The exchange rate at the official market closed at N446/$1 on Monday, 14th November 2022. This represents a slight depreciation of 0.06% in comparison to N445.75/$1 recorded in the previous trading day.
• The opening indicative rate closed at N444.4211 on Monday, 14th November 2022.
• Furthermore, an exchange rate of N447/$1 was the highest rate recorded during intra-day trading before it settled at N446/$1, while it traded as low as N439.33/$1 during intra-day trading.
• A total of $63.83 million in FX value was traded at the Investors and Exporters window on Monday, which is 74.98% lower than the $255.15 million traded on Friday.

Black market exchange rate falls to N780/$1 on 14th November 2022

The exchange rate between the naira and the US dollar depreciated on Monday, 14th November 2022, closing at N780/$1 after recording significant gains in the previous week. Naira depreciated by 17.6% compared to N680/$1 recorded last week Friday.

This is according to information from black market traders who spoke to Nairametrics. Meanwhile, the exchange rate still varies across various locations and also depends on the volume of transaction. Some FX traders still sell at the rate of N750/$1.

Similarly, naira weakened against the US dollar at the cryptocurrency peer-to-peer FX to N788/$1 on Monday, representing a steep 11.46% decline from N707/$1 recorded in the previous trading session.

However, the naira closed against the US dollar at N445.75/$1 at the I&E window on Friday. This represents a 0.08% appreciation from N446.1/$1 that was recorded in the previous trading session.

FX turnover at the official market surged by 183.66% to $255.15 million on Friday, compared to $89.95 million that was traded on Thursday. Nigeria’s external reserve declined further by 0.067% to stand at $37.221 billion as of 10th November 2022 from $37.247 billion recorded as of the previous day.

Trading at the official NAFEX window

The exchange rate at the official market closed at N445.75/$1 on Friday, 11th November 2022, representing a 0.08% appreciation from N446.1/$1 recorded in the previous trading day.

• The opening indicative rate closed at N444.1/$1 on Friday, 11th November 2022.
• Furthermore, an exchange rate of N448/$1 was the highest rate recorded during intra-day trading before it settled at N445.75/$1, while it traded as low as N425/$1 during intra-day trading.
• A total of $255.15 million in FX value was traded at the Investors and Exporters window on Friday, which is 183.66% higher than the $89.95 million traded on Thursday.

Black market exchange rate closes at N680/$1 on 11th November 2022

The exchange rate between the naira and the US dollar appreciated by 8.72% on Friday, 11th November 2022 to close at N680/$1 from N745/$1 recorded on Thursday. This is according to information from black market traders who spoke to Nairametrics.

In the last four days, the local recorded significant gains against the US dollar from a record low of N900/$1 recorded last week. The exchange rate has now touched its highest level since 19th August 2022. It is worth noting that the rate varies across various locations and depends on the transaction volume.

Similarly, the exchange rate at the cryptocurrency peer-to-peer FX appreciated to N714/$1 on Friday, a 0.56% improvement from N718/$1 recorded in the previous trading session.

However, the naira closed against the US dollar at N446.1/$1 at the I&E window on Thursday. This represents a slight depreciation of 0.1% in contrast to N445.67/$1 that was recorded in the previous trading session.
FX turnover at the official market fell slightly by 3.29% to $89.95 million on Thursday, compared to $93.01 million that was traded on Wednesday. Nigeria’s external reserve declined by 0.07% to stand at $37.247 billion as of 9th November 2022 in contrast to $37.272 billion recorded as of the previous day.

Trading at the official NAFEX window

The exchange rate at the official market closed at N446.1/$1 on Thursday, 10th November 2022, representing a downturn of 0.1% from N445.67/$1 recorded in the previous trading day.

• The opening indicative rate closed at N444.42/$1 on Thursday, 10th November 2022.
• Furthermore, an exchange rate of N447/$1 was the highest rate recorded during intra-day trading before it settled at N446.1/$1, while it traded as low as N415/$1 during intra-day trading.
• A total of $89.95 million in FX value was traded at the Investors and Exporters window on Thursday, which is 3.29% lower than the $93.01 million traded on Wednesday.

P2P exchange rate appreciates to N718/$1 on 10th November 2022

Naira recorded a massive boost against the US dollar on Thursday at the cryptocurrency peer-to-peer FX market, closing at N718 to a dollar from N814.9/$1 recorded in the previous trading session. The exchange rate appreciated by 11.89% in 24 hours.

Similarly, the exchange rate between the naira and the US dollar appreciated at the black market to close at N745/$1 on Thursday, 10th November 2022, representing a 6.88% gain when compared to the N800/$1 recorded in the previous trading session.

This is according to information from black market traders who spoke to Nairametrics.

Meanwhile, the exchange rate still varies largely across the markets based on the location and volume of transactions. According to information from FX traders, the exchange rate traded between N780/$1 and N800/$1 during the day, before closing at an average of N740 to a dollar.

Also, the naira closed against the US dollar at N445.67/$1 at the I&E window on Wednesday, representing a 0.1% appreciation compared to N446.1/$1 that was recorded in the previous trading session. FX turnover at the official market improved by 27.95% to $93.01 million on Wednesday, from $72.69 million that was traded on Tuesday.

Nigeria’s external reserve declined by 0.06% to stand at $37.27 billion as of 8th November 2022 in contrast to $37.29 billion recorded as of the previous day.

Trading at the official NAFEX window

The exchange rate at the official market closed at N445.67/$1 on Wednesday, 9th November 2022, representing a 0.1% improvement from N446.1/$1 recorded in the previous trading day.

• The opening indicative rate closed at N444/$1 on Wednesday, 9th November 2022.
• Furthermore, an exchange rate of N447.09/$1 was the highest rate recorded during intra-day trading before it settled at N445.67/$1, while it traded as low as N432/$1 during intra-day trading.
• A total of $93.01 million in FX value was traded at the Investors and Exporters window on Wednesday, which is 27.95% higher than the $72.69 million traded on Tuesday.

Black market exchange rate moderates to N800/$1 on 9th November 2022

The exchange rate between the naira and the US dollar moderated at the black market to N800/$1 on Wednesday, 9th November 2022, representing a 6.43% appreciation when compared to the N855/$1 recorded in the previous trading session. 

This is according to information from black market traders who spoke to Nairametrics. 

Meanwhile, the exchange rate still varies largely across the markets based on the location and volume of transactions. In a conversation with some traders at the Internation Airport Lagos, they are selling dollars at the rate of N840/$1 for cash transactions, while another trader stated its rate at N820/$1. 

For inflows, the exchange rate stood at N820 to a dollar on Wednesday morning. 

Also, the exchange rate at the cryptocurrency peer-to-peer FX market improved by 5.23% to trade at a minimum of N814.9/$1 on Wednesday morning, from N859.9/$1 that it traded at the same time on Tuesday, 8th November 2022. 

On the other hand, the naira closed against the US dollar at N446.1/$1 at the I&E window on Tuesday, representing a depreciation of 0.13% compared to N445.5/$1 that was recorded in the previous trading session. FX turnover at the official market fell by 64.76% to $72.69 million on Tuesday, from $206.25 million that was traded on Monday. 

Nigeria’s external reserve declined by 0.18% to stand at $37.295 billion as of 7th November 2022 in contrast to $37.36 recorded as of the previous day. 

Trading at the official NAFEX window 

The exchange rate at the official market closed at N446.1/$1 on Tuesday, 8th November 2022, representing a slight decline of 0.13% from N445.5/$1 recorded in the previous trading day. 

• The opening indicative rate closed at N443.55/$1 on Tuesday, 8th November 2022. 
• Furthermore, an exchange rate of N460/$1 was the highest rate recorded during intra-day trading before it settled at N446.1/$1, while it traded as low as N440/$1 during intra-day trading. 
• A total of $72.69 million in FX value was traded at the Investors and Exporters window on Tuesday, which is 64.76% lower than the $206.25 million traded on Monday. 

Black market exchange rate appreciates to N855/$1 on 8th November 2022

The exchange rate between the naira and the US dollar improved by 2.29% at the black market on Tuesday, 8th November 2022, trading at an average of N855/$1 for cash transactions, compared to an average of N875/$1 recorded in the previous trading session.

This is according to information from black market traders who spoke to Nairametrics.

Also, the exchange rate at the cryptocurrency peer-to-peer FX market appreciated by 0.13% to trade at a minimum of N859.9/$1 on Tuesday morning, compared to the N861/$1 that it traded at the same time on Monday, 7th November 2022.

Meanwhile, the naira closed against the US dollar on Monday at N445.5/$1 at the I&E window, the same rate as the previous trading session. FX turnover at the official market surged by 119.25% to $206.25 million on Monday, in contrast to $94.07 million that was traded on Friday. This is the highest volume traded at the I&E window since 29th September 2022.

Nigeria’s external reserve recorded a slight drop of 0.01% to stand at $37.36 billion as of th November 2022 from $37.37 recorded as of the previous day.

Trading at the official NAFEX window

The exchange rate at the official market closed at N445.5/$1 on Monday, 7th November 2022, the same rate recorded in the previous trading day.

• The opening indicative rate closed at N444.08/$1 on Monday, 7th November 2022.
• Furthermore, an exchange rate of N461/$1 was the highest rate recorded during intra-day trading before it settled at N445.5/$1, while it traded as low as N439.98/$1 during intra-day trading.
• A total of $206.25 million in FX value was traded at the Investors and Exporters window on Monday, which is 119.25% higher than the $94.07 million traded on Friday.

Black market exchange rate falls to N875/$1 on 7th November 2022

The exchange rate between the naira and the US dollar declined further at the black market on Monday, 7th November 2022, albeit at a slower pace trading at an average of N875/$1, in contrast to an average of N870/$1 recorded in the previous trading session.

This is according to information from black market traders who spoke to Nairametrics.

On the flip side, the exchange rate at the cryptocurrency peer-to-peer FX market between the local currency and the US dollar moderated by 1.42% to trade at a minimum of N861/$1 on Monday morning from N873.44/$1 that it traded at the same time on Friday, 4th November, 2022.

Meanwhile, the naira closed against the US dollar on Friday at N445.5/$1, recording a slight upward movement from N445.75/$1 that it closed in the previous trading session. Meanwhile, FX turnover at the I&E window declined by 43.63% to $94.07 million on Friday, as against $166.88 million that was traded on Thursday.

Nigeria’s external reserve recorded a rare upward movement after gaining 0.001% to stand at $37.3658 billion as of 4th November 2022 from $37.3656 recorded as of the previous day.

Trading at the official NAFEX window

The exchange rate at the official market closed at N445.5/$1 on Friday, 4th November 2022, a 0.06% appreciation from N445.75/$1 recorded in the previous trading day.

• The opening indicative rate closed at N442.88/$1 on Friday, 4th November 2022.
• Furthermore, an exchange rate of N447/$1 was the highest rate recorded during intra-day trading before it settled at N445.5/$1, while it traded as low as N431/$1 during intra-day trading.
• A total of $94.07 million in FX value was traded at the Investors and Exporters window on Friday, which is 43.63% lower than the $166.88 million traded on Thursday.

Black market exchange rate falls to N870/$1 on 4th November 2022

The exchange rate between the naira and the US dollar fell drastically on the black market on Friday, 4th of November 2022, trading at an average of N870/$1 according to information from black market traders who spoke to Nairametrics.

This represents a steep decline of 6.13% compared to N820/$1 recorded in the previous trading session.

The exchange rate at the cryptocurrency peer-to-peer FX market also declined against the US dollar to trade at a minimum of N873.44/$1 on Friday morning. This represents a devaluation of 3.15% in contrast to N846.8/$1 which it traded at the same time on Thursday, 3rd November 2022.

On the other hand, the naira closed against the US dollar on Wednesday at N445.75/$1, a slight appreciation of 0.06% from N446/$1 recorded in the previous trading session. Meanwhile, the FX turnover at the I&E window improved by 143.41% to close at $166.88 million on Thursday, from $68.56 million that was traded on Wednesday.

However, Nigeria’s external reserve dropped further to $37.37 billion as of 1st November 2022, representing a decline of 0.06% in contrast to $37.39 billion recorded on Monday 31st October 2022.

Trading at the official NAFEX window

The exchange rate at the official market closed at N445.75/$1 on Thursday, 3rd November 2022, an appreciation of 0.06% from N446/$1 recorded in the previous trading day.

• The opening indicative rate closed at N443.58/$1 on Thursday, 3rd November 2022.
• Furthermore, an exchange rate of N447/$1 was the highest rate recorded during intra-day trading before it settled at N445.75/$1, while it traded as low as N431/$1 during intra-day trading.
• A total of $166.88 million in FX value was traded at the Investors and Exporters window on Thursday, which is 143.41% higher than the $68.56 million traded on Wednesday.

Black market exchange rate falls to N820/$1 on 3rd November 2022

The exchange rate between the naira and the US dollar fell on the black market on the morning of Thursday, 3rd November 2022, trading at an average of N820/$1, representing a 1.23% depreciation in contrast to N810/$1 recorded in the previous trading session. 

This is according to information from black market traders who spoke to Nairametrics. 

The exchange rate at the cryptocurrency peer-to-peer FX market also nosedived against the US dollar to trade at a minimum of N846.8/$1 on Thursday morning. This represents a dip of 2.27% when compared to N828/$1 which it traded at the same time on Wednesday, 2nd November 2022. 

Also, the naira closed against the US dollar on Wednesday at N446/$1, the same rate as the previous day. Meanwhile, the FX turnover at the I&E window appreciated by 32.92% to close at $68.56 million on Wednesday, from $51.58 million that was traded on Tuesday.  

However, Nigeria’s external reserve dropped further to $37.37 billion as of 1st November 2022, representing a decline of 0.06% in contrast to $37.39 billion recorded on Monday 31st October 2022.  

Trading at the official NAFEX window 

The exchange rate at the official market closed at N446/$1 on Wednesday, 2nd November 2022. This is the same rate recorded on the previous trading day. 

• The opening indicative rate closed at N443.75/$1 on Wednesday, 2nd November 2022. 
• Furthermore, an exchange rate of N447/$1 was the highest rate recorded during intra-day trading before it settled at N446/$1, while it traded as low as N425/$1 during intra-day trading. 
• A total of $68.56 million in FX value was traded at the Investors and Exporters window on Wednesday, which is 32.92% higher than the $51.58 million traded on Tuesday. 

Exchange rates between Naira and Dollar on 2nd November 2022  

The exchange rate between the naira and the US dollar fell at the black market on Wednesday, 2nd November 2022, trading at an average of N810/$1, representing a depreciation of 1.25% as against N800/$1 recorded in the previous trading session. 

This is according to information from black market traders who spoke to Nairametrics. 

In the same vein, the exchange rate at the cryptocurrency peer-to-peer FX market dipped by 1.85% to trade at a minimum of N828/$1 on Wednesday morning, from N813/$1 that it traded at the same time on Tuesday, 1st November 2022. 

Also, the exchange rate at the Investors and Exporters window depreciated by 0.68% to close at N446/$1, in contrast to N443/$1 recorded in the previous trading session. This represents the lowest level of the local currency at the official market. 

Meanwhile, the FX turnover at the I&E window stood at $51.58 million on Tuesday, an increase of 28.79% from the $40.05 million that was traded on Monday. However, Nigeria’s external reserve dropped further to $37.39 billion as of 31st October 2022, representing a decline of 0.16% when compared to $37.45 billion recorded on Friday 28th October 2022.  

Trading at the official NAFEX window 

The exchange rate at the official market closed at N446/$1 on Tuesday, 1st November 2022, representing a depreciation of 0.68% from N443/$1 recorded in the previous trading day. 

• The opening indicative rate closed at N443.58/$1 on Tuesday, 1st November 2022. 
• Furthermore, an exchange rate of N447/$1 was the highest rate recorded during intra-day trading before it settled at N446/$1, while it traded as low as N424/$1 during intra-day trading.
• A total of $51.58 million in FX value was traded at the Investors and Exporters window on Tuesday, which is 28.79% higher than the $40.05 million traded on Monday. 

Exchange rates between Naira and Dollar on 1st November 2022

The exchange rate between the naira and the US dollar continues to trend downwards on the black market on Tuesday, 1st November 2022, trading at an average of N800/$1. This represents a 0.63% depreciation from N795/$1 recorded in the previous trading session.

This is according to information from black market traders who spoke to Nairametrics.

In the same vein, the exchange rate at the cryptocurrency peer-to-peer FX market dropped further by 2.45% to trade at a minimum of N813/$1 on Tuesday morning, as against N793.6/$1 that it traded at the same time on Monday, 31st October, 2022.

On the other hand, the exchange ate between the naira and the US dollar at the Investors and Exporters window appreciated by 0.39% to close at N443/$1, from N444.75/$1 recorded in the previous trading session.

However, the FX turnover at the I&E window stood at $40.05 million on Monday, representing a decline of 35.29% when compared to $61.89 million that was traded on Friday. Also, Nigeria’s external reserve dropped further to $37.45 billion as of 28th October 2022.

Trading at the official NAFEX window

The exchange rate at the official market closed at N443/$1 on Monday, 31st October 2022, representing an appreciation of 0.39% from N444.75/$1 recorded in the previous trading day.

• The opening indicative rate closed at N443.2/$1 on Monday, 31st October 2022.
• Furthermore, an exchange rate of N447/$1 was the highest rate recorded during intra-day trading before it settled at N443/$1, while it traded as low as N425/$1 during intra-day trading.
• A total of $40.05 million in FX value was traded at the Investors and Exporters window on Monday, which is 35.29% lower than the $61.89 million traded on last week Friday.

Exchange rates between Naira and Dollar on 24th October 2022 

Exchange rates between Naira and Dollar on 21st October 2022

The exchange rate between the naira and the US dollar at the black market fell significantly by 1.75% to trade at N755/$1 on Friday, 21st October 2022, when compared to N742/$1 recorded in the previous trading session. This is according to information from black market traders who spoke to Nairametrics. 

Likewise, the naira at the cryptocurrency peer-to-peer FX market traded at a minimum of N751.99/$1 on Friday morning, a depreciation of 0.44% as against N748.7/$1 traded at the same time on Thursday, 20th October 2022. 

Meanwhile, the exchange rate between the naira and the US dollar at the I&E official window appreciated slightly by 0.08% to close at N441.13/$1 on Thursday, 20th October 2022, from N441.5/$1 recorded in the previous trading session. 

However, the FX turnover at the I&E window dipped by 14.95% to $108.56 million on Thursday from the $65 million that was traded on Wednesday. 

Nigeria’s external reserve stood at $37.71 billion as of 19th October 2022, a 0.12% decline compared to $37.76 billion recorded the previous day. The nation’s foreign reserve has been on a downward trend due to the continuous intervention by the CBN in the official market to maintain the local currency’s stability. 

Trading at the official NAFEX window 

The exchange rate at the official market closed at N441.13/$1 on Thursday, 20th October 2022, a 0.08% appreciation from N441.5/$1 recorded in the previous trading day. 

• The opening indicative rate closed at N440/$1 on Thursday, 20th October 2022. 
• Furthermore, an exchange rate of N442/$1 was the highest rate recorded during intra-day trading before it settled at N441.13/$1, while it traded as low as N423/$1 during intra-day trading.
• A total of $108.56 million in FX value was traded in the Investors and Exporters window on Thursday, which is 14.95% lower than the $127.65 million traded on Wednesday. 

Exchange rates between Naira and Dollar on 20th October 2022  

The exchange rate between the naira and the US dollar at the black market gained 0.13% to trade at N742/$1 on Thursday, 20th October 2022, from N743/$1 recorded in the previous trading session. This is according to information from black market traders who spoke to Nairametrics. 

On the other hand, the naira at the cryptocurrency peer-to-peer FX market fell by 0.29% to trade at a minimum of N748.7/$1 on Thursday morning, when compared to N746.57/$1 traded at the same time on Wednesday, 19th October 2022. 

Meanwhile, the exchange rate between the naira and the US dollar at the I&E official window closed at N441.5/$1 on Wednesday, 19th October 2022, a slight fall of 0.06% from N441.25/$1 recorded in the previous trading session. 

However, the FX turnover at the I&E window increased by 71.73% to $127.65 million on Wednesday from the $74.33 million that was traded on Tuesday. 

Nigeria’s external reserve stood at $37.76 billion as of 18th October 2022, a decline of 0.1% when compared to $37.96 billion recorded the previous day. The nation’s foreign reserve has been on a downward trend due to the continuous intervention by the CBN in the official market to maintain the stability of the local currency. 

Trading at the official NAFEX window 

The exchange rate at the official market closed at N441.5/$1 on Wednesday, 19th October 2022, a depreciation of 0.06% from N441.25/$1 recorded in the previous trading day. 

• The opening indicative rate closed at N440/$1 on Wednesday, 19th October 2022. 
• Furthermore, an exchange rate of N443/$1 was the highest rate recorded during intra-day trading before it settled at N441.5/$1, while it traded as low as N425/$1 during intra-day trading. 
• A total of $127.65 million in FX value was traded in the Investors and Exporters window on Wednesday, which is 71.73% higher than the $74.33 million traded on Tuesday. 

Exchange rates between Naira and Dollar on 19th October 2022  

The exchange rate between the naira and the US dollar at the black market fell to N743/$1 on Wednesday, 19th October 2022, a slight depreciation of 0.13% from N742/$1 recorded in the previous trading session. This is according to information from black market traders who spoke to Nairametrics. 

On the other hand, the naira at the cryptocurrency peer-to-peer FX market appreciated by 0.02% to trade at a minimum of N746.57/$1 on Wednesday morning, against N746.7/$1 traded at the same time on Tuesday, 18th October 2022. 

Meanwhile, the exchange rate between the naira and the US dollar at the I&E official window closed at N441.25/$1 on Tuesday, 18th October 2022, same as recorded in the previous trading session. 

However, the total of FX traded at the I&E window increased by 60.85% to $74.33 million on Tuesday from $46.21 million that exchanged hands on Monday. 

Nigeria’s external reserve stood at $37.796 billion as of 17th October 2022, a decline of 0.23% when compared to $37.88 billion recorded the previous day. The nation’s foreign reserve has been on a downward trend due to the continuous intervention by the CBN in the official market to maintain the stability of the local currency. 

Trading at the official NAFEX window 

The exchange rate at the official market closed at N441.25/$1 on Tuesday, 18th October 2022,  same as N441.25/$1 recorded on the previous trading day. 

• The opening indicative rate closed at N440/$1 on Tuesday, 18th October 2022. 
• Furthermore, an exchange rate of N443/$1 was the highest rate recorded during intra-day trading before it settled at N441.25/$1, while it traded as low as N420/$1 during intra-day trading. 

• A total of $74.33 million in FX value was traded in the Investors and Exporters window on Tuesday, which is 60.85% higher than the $46.21 million traded on Monday. 

Exchange rates between Naira and Dollar on 18th October 2022

The exchange rate between the naira and the US dollar at the black market remained flat at N742/$1 on Tuesday, 18th October 2022, having depreciated by 1.5% in the previous trading session. This is according to information from black market traders who spoke to Nairametrics.

On the other hand, the naira at the cryptocurrency peer-to-peer FXmarket depreciated by 0.81% to trade at a minimum of N746.7/$1 on Tuesday morning, against N740.67/$1 traded at the same time on Monday, 17th October 2022.

Meanwhile, the exchange rate between the naira and the US dollar at the I&E official window closed at N441.25/$1 on Monday, 17th October 2022, representing a slight gain of 0.03% compared to N441.38/$1 recorded in the previous trading session.

However, the amount of traded FX at the I&E window fell to its lowest level in the month of October, dropping by 33.2% to $46.21 million on Monday from $69.18 million that exchanged hands last week Friday.

Nigeria’s external reserve stood at $37.88 billion as of 14th October 2022, a decline of 0.06% when compared to $37.91 billion recorded the previous day. The nation’s foreign reserve has been on a downward trend due to the continuous intervention by the CBN in the official market to maintain the stability of the local currency.

Trading at the official NAFEX window

The exchange rate at the official market closed at N441.25/$1 on Monday, 17th October 2022, starting the week with a 0.03% appreciation compared to N441.38/$1 recorded last week Friday.

• The opening indicative rate closed at N439.63/$1 on Monday, 17th October 2022.
• Furthermore, an exchange rate of N442.5/$1was the highest rate recorded during intra-day trading before it settled at N441.25/$1, while it traded as low as N425/$1 during intra-day trading.
• A total of $46.21 million in FX value was traded in the Investors and Exporters window on Monday, which is 33.2% higher than the $69.18 million traded on Friday last week.

Exchange rates between Naira and Dollar on 17th October 2022

The exchange rate between the naira and the US dollar depreciated by 1.50% at the black market on Monday, 17th October 2022, trading at an average of N742/$1 compared to N731/$1 recorded in the previous trading session. 

This is according to information from black market traders who spoke to Nairametrics. 

Also, the naira at the cryptocurrency peer-to-peer FX market decreased by 0.34% to trade at a minimum of N740.67/$1 on Monday morning, against N738.2/$1 traded at the same time on Friday, 14th October 2022. 

Meanwhile, the exchange rate between the naira and the US dollar at the I&E official window closed at N441.38/$1 on Friday, 17th October 2022, representing a slight gain of 0.1% compared to N441.83/$1 recorded in the previous trading session. 

Similarly, a sum of $69.18 million was traded at the Investors and Exporters window on Friday, an increase of 6.76% compared to $64.8 million that exchanged hands in the previous session. 

Nigeria’s external reserve stood at $37.91 billion as of 13th October 2022, a decline of 0.11% when compared to $37.95 billion recorded in the previous day. The nation’s foreign reserve has been on a downward trend due to the continuous intervention by the CBN in the official market to maintain the stability of the local currency. 

Trading at the official NAFEX window 

The exchange rate at the official market closed at N441.38/$1 on Friday, 14th October 2022, representing a slight gain of 0.1% compared to N441.83/$1 recorded in the previous trading session. 

• The opening indicative rate closed at N440/$1 on Friday, 14th October 2022. 

• Furthermore, an exchange rate of N442.5/$1 was the highest rate recorded during intra-day trading before it settled at N441.38/$1, while it traded as low as N415.5/$1 during intra-day trading. 
• A total of $69.18 million in FX value was traded in the Investors and Exporters window on Friday, which is 6.76% higher than the $64.8 million traded on Thursday. 

Exchange rates between Naira and Dollar on 14th October 2022  

The exchange rate between the naira and the US dollar appreciated slightly at the black market on Friday, 14th October 2022, trading at an average of N731/$1 compared to N732/$1 recorded in the previous trading session. 

This is according to information from black market traders who spoke to Nairametrics. 

Similarly, the naira at the cryptocurrency peer-to-peer FX market appreciated by 0.28% to trade at a minimum of N737.6/$1 on Friday, against N739.7/$1 traded at the same time on Thursday, 13th October, 2022. 

On the other hand, the exchange rate between the naira and the US dollar at the I&E official window closed at N441.83/$1 on Thursday, 13th October 2022, representing a 0.26% depreciated compared to N440.6/$1 recorded on Wednesday. 

Meanwhile, a total of $64.8 million in forex was traded on Thursday, a decrease of 32.1% compared to $95.39 million that was traded on Wednesday. 

Nigeria’s external reserve stood at $37.95 billion as of 12th October 2022, representing a decline of 0.33% when compared to $38.07 billion recorded as of 7th October 2022. The nation’s foreign reserve has been on a downward trend due to the continuous intervention by the CBN in the official market to maintain the stability of the local currency. 

Trading at the official NAFEX window 

The exchange rate at the official market closed at N441.83/$1 on Thursday, 14th October 2022, representing a 0.26% depreciation compared to N440.67/$1 recorded in the previous trading session. 

• The opening indicative rate closed at N442/$1 on Thursday, 13th October 2022. 

• Furthermore, an exchange rate of N442/$1 was the highest rate recorded during intra-day trading before it settled at N441.83/$1, while it traded as low as N435/$1 during intra-day trading. 
• A total of $64.8 million in FX value was traded in the Investors and Exporters window on Thursday, 32.07% lower thn the $95.39 million traded on Wednesday. 

Exchange rates between Naira and Dollar on 13th October 2022  

The exchange rate between the naira and the US dollar depreciated at the black market on Thursday, 13th October 2022, trading at an average of N732/$1 compared to N730/$1 recorded in the previous trading session. 

This is according to information from black market traders who spoke to Nairametrics. 

Similarly, the naira at the cryptocurrency peer-to-peer FX market depreciated by 0.18% to trade at a minimum of N739.7/$1 on Thursday, against N738.39/$1 traded at the same time on Wednesday, 12th October 2022. 

On the other hand, the exchange rate between the naira and the US dollar at the I&E official window closed at N440.67/$1 on Wednesday, 12th October 2022, representing a 0.11% appreciation compared to N441.17/$1 recorded on Tuesday. 

Meanwhile, a total of $95.39 million in forex was traded on Wednesday, an increase of 29.5% compared to $73.66 million that exchanged hands on Tuesday. 

Nigeria’s external reserve stood at $38.07 billion as of 7th October 2022, representing a depreciation of 0.07% when compared to $38.099 billion recorded as of the previous day. The nation’s foreign reserve has been on a downward trend due to the continuous intervention by the CBN in the official market to maintain the stability of the local currency. 

Trading at the official NAFEX window 

The exchange rate at the official market closed at N440.67/$1 on Wednesday, 12th October 2022, representing a 0.11% appreciation compared to N441.17/$1 recorded in the previous trading session. 

• The opening indicative rate closed at N440/$1 on Wednesday, 12th October 2022. 

• Furthermore, an exchange rate of N461/$1 was the highest rate recorded during intra-day trading before it settled at N440.67/$1, while it traded as low as N415.5/$1 during intra-day trading. 
• A total of $95.39 million in FX value was traded in the Investors and Exporters window on , following the public holiday declared on Monday, thereby preventing trading activities. 

Exchange rates between Naira and Dollar on 12th October 2022  

The exchange rate between the naira and the US dollar traded at an average of N730/$1 at the black market, on Wednesday, 12th October 2022, the same as recorded in the previous trading session. 

This is according to information from black market traders who spoke to Nairametrics. 

The naira at the cryptocurrency peer-to-peer FX market depreciated by 0.76% to trade at a minimum of N738.39/$1 on Wednesday morning, against N732.8/$1 traded at the same time on Tuesday, 11th October 2022. 

The exchange rate between the naira and the US dollar at the I&E official window closed at N441.17/$1 on Tuesday, 11th October 2022, following the public holiday held on Monday, in which there was no trading activity 

Meanwhile, a total of $73.66 million in forex was traded on Tuesday, 11th October 2022, with no trading activity at the official market on Monday, due to the public holiday declared by the federal government in commemoration of Id el Maulud celebration. 

Nigeria’s external reserve stood at $38.07 billion as of 7th October 2022, representing a depreciation of 0.07% when compared to $38.099 billion recorded as of the previous day. The nation’s foreign reserve has been on a downward trend due to the continuous intervention by the CBN in the official market to maintain the stability of the local currency. 

Trading at the official NAFEX window 

The exchange rate at the official market closed at N441.17/$1 on Tuesday, 11th October 2022, representing a 0.46% depreciation compared to N439.17/$1 recorded in the previous trading session. 

• The opening indicative rate closed at N439.4/$1 on Tuesday, 11th October 2022. 

• Furthermore, an exchange rate of N443.5/$1 was the highest rate recorded during intra-day trading before it settled at N441.17/$1, while it traded as low as N414/$1 during intra-day trading. 
• A total of $73.66 million in FX value was traded in the Investors and Exporters window on Tuesday, following the public holiday declared on Monday, thereby preventing trading activities. 

Exchange rates between Naira and Dollar on 11th October 2022  

The exchange rate between the naira and the US dollar traded at an average of N730/$1 at the black market, on Tuesday, 11th October 2022, representing a 0.14% appreciation from N731/$1 recorded on Monday. 

This is according to information from black market traders who spoke to Nairametrics. 

The naira at the cryptocurrency peer-to-peer FX market depreciated marginally by 0.12% to trade at a minimum of N732.8/$1 on Tuesday morning, against N731.94/$1 traded at the same time on Monday, 10th October 2022. 

In the same vein, the exchange rate between the naira and the US dollar at the I&E official window depreciated to its lowest level, falling by 0.58% to close at N439.17/$1 on Friday, 7th October 2022, compared to N436.63/$1 recorded on Thursday. 

Recommended reading: Naira is under attack from oil theft

Meanwhile, a total of $99.7 million in forex was traded on Friday, 7th October 2022, recording a slight drop of 1.03% as against $100.74 million that exchanged hands in the previous session. There was no trading activity at the official market on Monday, due to the public holiday declared by the federal government in commemoration of Id el Maulud celebration. 

Nigeria’s external reserve stood at $38.1 billion as of 6th October 2022, a slight decline of 0.03% when compared to $38.11 billion recorded as of the previous day. The nation’s foreign reserve has been on a downward trend due to the continuous intervention by the CBN in the official market to maintain the stability of the local currency. 

Trading at the official NAFEX window 

The exchange rate at the official market closed at N439.17/$1 on Friday, 7th October 2022, from N436.63/$1 recorded in the previous session. 

• The opening indicative rate closed at N437/$1 on Friday, 7th October 2022, same as recorded on Thursday. 

• Furthermore, an exchange rate of N450.07/$1 was the highest rate recorded during intra-day trading before it settled at N439.17/$1, while it traded as low as N422/$1 during intra-day trading. 
• A total of $99.7 million in FX value was traded in the Investors and Exporters window on Friday, which is 1.03% lower than the $100.74 million that exchanged hands in the last trading session. 

Exchange rates between Naira and Dollar on 10th October 2022

The exchange rate between the naira and the US dollar depreciated slightly to N731/$1 at the black market, on Monday, 10th October 2022, representing a 0.14% drop from N730/$1 recorded last week Friday. 

This is according to information from black market traders who spoke to Nairametrics. 

The naira at the cryptocurrency peer-to-peer FX market depreciated marginally by 0.29% to trade at a minimum of N731.94/$1 on Monday morning, against N729.8/$1 traded at the same time on Friday, 7th October 2022. 

In the same vein, the exchange rate between the naira and the US dollar at the I&E official window depreciated to its lowest level, falling by 0.58% to close at N439.17/$1 on Friday, 7th October 2022, compared to N436.63/$1 recorded on Thursday. 

Meanwhile, a total of $99.7 million in forex was traded on Friday, 7th October 2022, recording a slight drop of 1.03% as against $100.74 million that exchanged hands in the previous session. 

Nigeria’s external reserve stood at $38.1 billion as of 6th October 2022, a slight decline of 0.03% when compared to $38.11 billion recorded as of the previous day. The nation’s foreign reserve has been on a downward trend due to the continuous intervention by the CBN in the official market to maintain the stability of the local currency. 

Trading at the official NAFEX window 

The exchange rate at the official market closed at N439.17/$1 on Friday, 7th October 2022, from N436.63/$1 recorded in the previous session. 

• The opening indicative rate closed at N437/$1 on Friday, 7th October 2022, the same as recorded on Thursday.
• Furthermore, an exchange rate of N450.07/$1 was the highest rate recorded during intra-day trading before it settled at N439.17/$1, while it traded as low as N422/$1 during intra-day trading. 
• A total of $99.7 million in FX value was traded in the Investors and Exporters window on Friday, which is 1.03% lower than the $100.74 million that exchanged hands in the last trading session. 

Exchange rates between Naira and Dollar on 7th October 2022  

The exchange rate between the naira and the US dollar depreciated marginally to N730/$1 at the black market, on Friday, 7th October 2022, representing a decline of 0.27% from N728/$1 recorded in the previous trading session.

This is according to information from black market traders who spoke to Nairametrics. 

On the other hand, the naira at the cryptocurrency peer-to-peer FX market appreciated slightly by 0.02% to trade at a minimum of N729.8/$1 on Friday morning, against N729.96/$1 traded at the same time on Thursday, 6th October 2022.

Also, the exchange rate between the naira and the US dollar at the I&E official window appreciated slightly by 0.2% to close at N436.63/$1 on Thursday, 6th October 2022, from N437.5/$1 recorded on Wednesday.

A sum of $100.74 million exchanged hands on Thursday, representing an increase of 43.06% from $70.42 million that was traded in the previous session.

Nigeria’s external reserve stood at $38.11 billion as of 5th October 2022, representing a slight decline of 0.08% when compared to $38.14 billion recorded as of the previous day. The nation’s foreign reserve has been on a downward trend due to the continuous intervention by the CBN in the official market to maintain the stability of the local currency.

Trading at the official NAFEX window

The exchange rate at the official market closed at N436.63/$1 on Thursday, 6th October 2022, from N437.5/$1 recorded in the previous session.

• The opening indicative rate closed at N437/$1 on Thursday, 6th October 2022, the same as recorded on Wednesday.

• Furthermore, an exchange rate of N442/$1 was the highest rate recorded during intra-day trading before it settled at N436.63/$1, while it traded as low as N434.61/$1 during intra-day trading.
• A total of $100.74 million in FX value was traded in the Investors and Exporters window on Thursday, which is 43.06% higher than the $70.42 million that exchanged hands in the last trading session.

Exchange rates between Naira and Dollar on 6th October 2022  

The exchange rate between the naira and the US dollar moderated to N728/$1 at the black market, on Thursday, 6th October 2022, representing a slight appreciation of 0.27% from the N730/$1 recorded in the previous trading session. 

This is according to information obtained from black market traders who spoke to Nairametrics. 

Meanwhile, the naira at the cryptocurrency peer-to-peer FX market traded at a minimum of N729.96/$1 on Thursday morning, representing a slight gain of 0.05% from N730.3/$1 traded at the same time on Wednesday, 5th October 2022. 

On the other hand, the exchange rate at the official market depreciated slightly to close at N437.5/$1 on Wednesday, 5th October 2022, a slight depreciation of 0.06% as against N437.25/$1 recorded on Tuesday, and the highest rate on record. 

A sum of $70.42 million was traded on Wednesday, 5th October 2022, recording a drop of 34.94% from $108.24 million that exchanged hands in the previous trading session. 

Nigeria’s external reserve stood at $38.14 billion as of 4th October 2022, representing a depreciation of 0.3% when compared to $38.25 billion recorded as of the previous day. The nation’s foreign reserve has been on a downward trend due to the continuous intervention by the CBN in the official market to maintain the stability of the local currency. 

Trading at the official NAFEX window 

The exchange rate at the official market closed at N437.5/$1 on Wednesday, 5th October 2022, from N437.25/$1 recorded in the previous session. 

• The opening indicative rate closed at N437/$1 on Wednesday, 5th October 2022, a downturn from N437.5/$1 recorded on Tuesday. 

• Furthermore, an exchange rate of N460/$1 was the highest rate recorded during intra-day trading before it settled at N437.5/$1, while it traded as low as N425/$1 during intra-day trading. 
• A total of $70.42 million in FX value was traded in the Investors and Exporters window on Tuesday, which is 34.94% lower than the $108.24 million that exchanged hands in the last trading session. 

Exchange rates between Naira and Dollar on 5th October 2022 

The exchange rate between the naira and the US dollar moderated to N730/$1 on the black market, on Wednesday, 5th October 2022, representing a 1.35% appreciation from the N740/$1 recorded in the previous trading session. 

This is according to information obtained from black market traders who spoke to Nairametrics. 

On the other hand, naira in the cryptocurrency peer-to-peer FX market, traded at a minimum of N730.3/$1 on Wednesday morning, falling by 1.94% from N716.4/$1 traded at the same time on Tuesday, 4th October 2022. 

Also, the exchange rate between the naira and US Dollar at the official market depreciated slightly to close at N437.25/$1 on Tuesday, 4th October 2022, representing a 0.05% fall compared to N437.03/$1 recorded on Friday last week. 

A sum of $108.24 million was traded on Tuesday, 4th September 2022, an improvement from the $45.89 million that exchanged hands in the previous trading session. 

Nigeria’s external reserve stood at $38.25 billion as of 30th September 2022, representing an 0.08% decrease from $38.28 billion recorded as of the previous day. The nation’s foreign reserve has been on a downward trend due to the continuous intervention by the CBN in the official market to maintain the stability of the local currency. 

Trading at the official NAFEX window 

The exchange rate at the official market closed at N437.25/$1 on Tuesday, 4th October 2022, from N437.03/$1 recorded in the previous session. 

• The opening indicative rate closed at N437.5/$1 on Tuesday, 4th October 2022, a downturn from N437/$1 record last week Friday. 
• Furthermore, an exchange rate of N441.98/$1 was the highest rate recorded during intra-day trading before it settled at N437.25/$1, while it traded as low as N435/$1 during intra-day trading. 
• A total of $108.24 million in FX value was traded in the Investors and Exporters window on Tuesday, which is 135.87% higher than the $45.89 million that exchanged hands in the last trading session. 

Exchange rates between Naira and Dollar on 4th October 2022 

The exchange rate between the naira and the US dollar fell further to N740/$1 on the black market, representing a depreciation of 0.68% on Tuesday morning, 4th October 2022, compared to N735/$1 recorded on Friday, last week.  

This is according to information obtained from black market traders who spoke to Nairametrics. 

Meanwhile, the exchange rate between the naira and US Dollar at the official market maintained its position as it closed at N437.03/$1 on Friday, 30th September 2022, the same as recorded in the previous session.  

A sum of $45.89 million was traded on Friday, 30th September 2022, a massive decline when compared to $223.3 million that was traded in the previous session.  

On the other hand, naira in the cryptocurrency peer-to-peer FX market, traded at a minimum of N716.4/$1 on Tuesday morning, recording a significant 2.77% improvement in contrast to N736.8/$1 traded at the same time on Friday, 30th September 2022. 

Nigeria’s external reserve stood at $38.28 billion as of 29th September 2022, representing an 0.09% decrease from $38.3 billion recorded as of the previous day. The nation’s foreign reserve has been on a downward trend due to the continuous intervention by the CBN in the official market to maintain the stability of the local currency. 

Trading at the official NAFEX window 

The exchange rate at the official market closed at N437.03/$1 on Friday, 30th September 2022, the same as  N437.03/$1 recorded in the previous trading session. 

• The opening indicative rate closed at N437/$1 on Friday, 30th September 2022, the same as recorded on Thursday.
• Furthermore, an exchange rate of N441/$1 was the highest rate recorded during intra-day trading before it settled at N437.03/$1, while it traded as low as N435/$1 during intra-day trading. 
• A total of $45.89 million in FX value was traded in the Investors and Exporters window on Thursday, which is 79.45% lower than the $223.3 million that exchanged hands on Wednesday. 

Exchange rate between naira and dollar falls to N735/$1 at the black market on 30th September 2022 

The exchange rate between the naira and the US dollar fell further to a record low of N735/$1, recording a dip of 0.68% on Friday morning, 30th September 2022 on the black market, compared to N730/$1 recorded on Thursday.  

This is according to information obtained from black market traders who spoke to Nairametrics. 

Meanwhile, the exchange rate at the Investors and Exporters window fell by 0.15% to close at N437.03/$1 on Thursday, 29th September 2022, when compared to N436.37/$1 recorded in the previous session. This is despite a surge in the amount of traded FX in the window. 

Total forex turnover stood at $223.3 million, representing an 86.9% increase from $119.49 million that exchanged hands in the previous trading session. 

The local currency, on the other hand, at the cryptocurrency peer-to-peer FX market, traded at a minimum of N736.8/$1 on Friday morning, recording a slight depreciation of 0.25% as against N735/$1 traded at the same time on Thursday, 29th September 2022. 

Nigeria’s external reserve stood at $38.32 billion as of 28th September 2022, a decline of 0.1% from $38.36 billion recorded the previous day. The nation’s foreign reserve has been on a downward trend due to the continuous intervention by the CBN in the official market to maintain the stability of the local currency. 

Trading at the official NAFEX window 

The exchange rate at the official market closed at N437.03/$1 on Thursday, 29th September 2022, a drop of 0.15% from N436.37/$1 recorded on Wednesday, 28th September 2022. 

• The opening indicative rate closed at N437/$1 on Thursday, 29th September 2022, as against N436.79/$1 recorded in the previous session. 
• Furthermore, an exchange rate of N455/$1 was the highest rate recorded during intra-day trading before it settled at N437.03/$1, while it traded as low as N425/$1 during intra-day trading. 
• A total of $223.3 million in FX value was traded in the Investors and Exporters window on Thursday, which is 86.88% higher than the $119.49 million that exchanged hands on Wednesday. 

Exchange rate between naira and dollar falls to N730/$1 at the black market on 29th September 2022 

The exchange rate between the naira and the US dollar continued its depreciation as it fell by 0.69% on Thursday morning, 29th September 2022, to trade at N730/$1 at the parallel market, compared to N725/$1 recorded on Wednesday.  

This is according to information obtained from black market traders. 

Likewise, the exchange rate at the official Investors and Exporters window recorded a slight depreciation of 0.01% to close at N436.37/$1  on Wednesday, 28th September 2022, from N436.33/$1 recorded in the previous session. 

Meanwhile, a total of $119.49 million exchanged hands at the official market on Wednesday, 28th September 2022, a 20.17% increase from $99.43 million that was traded on Tuesday. 

he local currency at the cryptocurrency peer-to-peer FX market, traded at a minimum of N735/$1 on Thursday morning, a slight depreciation of 0.22% when compared to N733.4/$1 that it traded at the same time on Wednesday, 28th September, 2022. 

Nigeria’s external reserve stood at $38.36 billion as of 27th September 2022, a decline of 0.07% from $38.39 billion recorded as of the previous day. The nation’s foreign reserve has been on a downward trend due to the continuous intervention by the CBN in the official market to maintain the stability of the local currency. 

Trading at the official NAFEX window 

The exchange rate at the official market closed at N436.37/$1 on Wednesday, 28th September 2022, a slight depreciation of 0.01% as against N436.33/$1 recorded on Tuesday, 27th September 2022. 

• The opening indicative rate closed at N436.79/$1 on Wednesday, 28th September 2022, as against N434.93/$ recorded in the previous session. 
• Furthermore, an exchange rate of N442/$1 was the highest rate recorded during intra-day trading before it settled at N436.37/$1, while it traded as low as N417/$1 during intra-day trading. 
• A total of $119.49 million in FX value was traded in the Investors and Exporters window on Wednesday, which is 20.17% higher than the $99.43 million that exchanged hands on Tuesday. 

Exchange rate between naira and dollar falls to N725/$1 at the black market on 28th September 2022 

The exchange rate between the naira and the US dollar continued its depreciation as it recorded a fall of 0.42% on Wednesday morning, 28th September 2022, to trade at N725/$1 at the parallel market, compared to N722/$1 traded on Tuesday, the previous trading session.  

This is according to information obtained from black market traders. 

The naira fell slightly by 0.08% against the US dollar to close at N436.33/$1 at the official Investors and Exporters window on Tuesday, 27th September 2022, compared to N436/$1 recorded in the previous session. Meanwhile, a total of $99.43 million was traded on Tuesday, which is 27.31% higher than the $78.1 million that exchanged hands on Monday. 

On the other hand, the local currency fell marginally by 1.44% in the cryptocurrency peer-to-peer FX market, to trade at a minimum of N733.4/$1 on Wednesday morning, as against N723/$1 that it traded at the same time on Tuesday, 27th September 2022. 

Nigeria’s external reserve stood at $38.39 billion as of 26th September 2022, a dip of 0.2% from $38.46 billion recorded the previous day. The nation’s foreign reserve has been on a downward trend due to the continuous intervention by the CBN in the official market to maintain the stability of the local currency. 

Trading at the official NAFEX window 

The exchange rate at the official market closed at N436.33/$1 on Tuesday, 27th September 2022, a slight depreciation of 0.08% as against N436/$1 recorded on Monday, 26th September 2022. 

• The opening indicative rate closed at N434.93/$1 on Tuesday, 27th September 2022, as against N435.67/$ recorded in the previous session. 
• Furthermore, an exchange rate of N441/$1 was the highest rate recorded during intra-day trading before it settled at N436.33/$1, while it traded as low as N435/$1 during intra-day trading. 
• A total of $99.43 million in FX value was traded in the Investors and Exporters window on Tuesday, which is 27.31% higher than the $78.1 million that exchanged hands on Monday. 

Exchange rate between naira and dollar falls to N722/$1 at the black market on 27th September 2022 

The exchange rate between the naira and the US dollar recorded a massive depreciation on Tuesday morning, 27th September 2022, to trade at N722/$1 at the parallel market, representing a depreciation of 1.26% from N713/$1 traded on Monday, the previous trading session. This is according to information obtained from black market traders. 

On the other hand, the exchange rate between the naira and the US dollar closed at N436/$1 at the official Investors and Exporters window on Monday, 26th September 2022, a slight appreciation of 0.08% from N436.33/$1 recorded in the previous session. Despite the uptrend in the exchange rate, forex turnover dipped to $78.1 million on Monday, a 26.4% decline from $106.11 million that exchanged hands last week’s Friday. 

Meanwhile, the local currency recorded an appreciation of 0.84% at the cryptocurrency peer-to-peer FX market, to trade at a minimum of N723/$1 on Tuesday morning, from N729.1/$1 that it traded at the same time on Monday, 26th September 2022. 

Nigeria’s external reserve stood at $38.46 billion as of 23rd September 2022, a slight decline of 0.06% from $38.49 billion recorded the previous day. The nation’s foreign reserve has been on a downward trend due to the continuous intervention by the CBN in the official market to maintain the stability of the local currency. 

Trading at the official NAFEX window 

The exchange rate at the official market closed at N436/$1 on Monday, 26th September 2022, a slight appreciation of 0.08% appreciation as against N436.33/$1 recorded on Friday, 23rd September 2022. 

• The opening indicative rate closed at N435.67/$1 on Monday, 26th September 2022, as against N434.83/$ recorded in the previous session. 
• Furthermore, an exchange rate of N441/$1 was the highest rate recorded during intra-day trading before it settled at N436/$1, while it traded as low as N423/$1 during intra-day trading. 
• A total of $78.1 million in FX value was traded in the Investors and Exporters window on Monday, which is 26.4% lower than the $106.11 million that exchanged hands on Friday. 

Exchange rate between naira and dollar remains stable at N713/$1 at the black market on 26th September 2022 

The exchange rate between the naira and the US dollar at the parallel market traded at N713/$1 on Monday morning, 26th September 2022, a 0.14% depreciation from N712/$1 recorded on Friday, last week. This is according to information obtained from black market traders. 

Meanwhile, the exchange rate at the official Investors and Exporters window appreciated slightly by 0.04% to close at N436.33/$1 on Friday, 23rd September 2022, as against N436.5/$1 recorded in the previous session. A total of $106.11 million was traded at the window on Friday, representing a 4.3% marginal increase when compared to $101.74 million that exchanged hands in the previous session. 

On the other hand, the local currency depreciated further to a new record high at the cryptocurrency peer-to-peer FX market, to trade at a minimum of N729.1/$1 on Monday morning, a downturn of 1.14% from N720.9/$1 that it traded at the same time on Friday, last week. 

Meanwhile, Nigeria’s external reserve stood at $38.49 billion as of 22nd September 2022, a slight decline of 0.07% from $38.51 billion recorded as of the previous day. The nation’s foreign reserve has been on a downward trend due to the continuous intervention by the CBN in the official market to maintain the stability of the local currency. 

Trading at the official NAFEX window 

The exchange rate at the official market closed at N436.33/$1 on Friday, 23rd September 2022, which is a 0.04% appreciation from N436.5/$1 recorded on Thursday, 22nd September 2022. 

• The opening indicative rate closed at N434.83/$1 on Friday, 23rd September 2022, as against N435.08/$ recorded in the previous session. 
• Furthermore, an exchange rate of N438/$1 was the highest rate recorded during intra-day trading before it settled at N436.33/$1, while it traded as low as N425/$1 during intra-day trading. 
• A total of $106.11 million in FX value was traded in the Investors and Exporters window on Friday, which is 4.3% higher than the $101.74 million that exchanged hands on Thursday. 

Exchange rate between naira and dollar remains stable at N712/$1 at the black market on 23rd September 2022 

The exchange rate between the naira and the US dollar at the parallel market traded at N712/$1 on Friday morning, 23rd September 2022 same as recorded in the previous trading session. This is according to information obtained from black market traders. 

Similarly, the exchange rate remained stable at the official Investors and Exporters window, closing at N436.5/$1 on Thursday, 22nd September 2022, same as recorded in the previous session. Meanwhile, a total of $101.74 million was traded at the window, a decline of 24.06% when compared to $133.97 million that exchanged hands in the previous session. 

On the other hand, the local currency depreciated further to a new record high at the cryptocurrency peer-to-peer FX market, to trade at a minimum of N720.9/$1 on Friday morning, a decline of 0.31% from N718.69/$1 that it traded at the same time on Thursday. 

Nigeria’s external reserve stood at $38.51 billion as of 21st September 2022, a slight decline of 0.07% from $38.54 billion recorded as of the previous day. The nation’s foreign reserve has been on a downward trend due to the constant intervention by the CBN in the official market to maintain the stability of the local currency. 

Trading at the official NAFEX window 

The exchange rate at the official market closed at N436.5/$1 on Thursday, 22nd September 2022, which is the same as recorded on Wednesday, 21st September 2022. 

• The opening indicative rate closed at N435.08/$1 on Thursday, 22nd September 2022, as against N434.75/$ recorded in the previous session. 
• Furthermore, an exchange rate of N437/$1 was the highest rate recorded during intra-day trading before it settled at N436.5/$1, while it traded as low as N425/$1 during intra-day trading. 
• A total of $101.74 million in FX value was traded in the Investors and Exporters window on Thursday, which is 24.1% lower than the $133.97 million that exchanged hands on Wednesday. 

Exchange rate between naira and dollar trades to N712/$1 at the black market on 22nd September 2022 

The exchange rate between the naira and the US dollar at the parallel market on at N712/$1 on Thursday morning, 22nd September 2022 compared to N712.5/$1 recorded as of the close of trade on Wednesday. This is according to information obtained from black market traders. 

On the other hand, the local currency depreciated further at the cryptocurrency peer-to-peer FX market, trading at a minimum of N718.6961 on Thursday morning, a 0.29% decline from N716.59/$1 that it traded at the same time on Wednesday. 

Also, the naira dropped marginally against the US dollar on Wednesday to close at N436.5/$1, from N436.25/$1 that it closed in the previous trading session. Meanwhile, a total of $133.97 million was traded at the window, a decrease of 5.33% when compared to $141.5 million that exchanged hands in the previous session. 

Nigeria’s external reserve stood at $38.54 billion as of 20th September 2022, a slight decline of 0.1% from $38.57 billion recorded as of the previous day. The nation’s foreign reserve has been on a downward trend due to the constant intervention by the CBN in the official market to maintain the stability of the local currency. 

Trading at the official NAFEX window 

The exchange rate at the official market closed at N436.5/$1 on Wednesday, 21st September 2022, from N436.25/$1 recorded on Tuesday, the previous trading session. 

• The opening indicative rate closed at N434.75/$1 on Wednesday, 21st September 2022, as against N435.07 recorded in the previous session. 
• Furthermore, an exchange rate of N438/$1 was the highest rate recorded during intra-day trading before it settled at N436.5/$1, while it traded as low as N425/$1 during intra-day trading. 
• A total of $133.97 million in FX value was traded in the Investors and Exporters window on Wednesday, which is 5.33% lower than $141.51 million that exchanged hands on Tuesday. 

Exchange rate between naira and dollar falls to N713/$1 at the black market on 21st September 2022

The exchange rate between the naira and the US dollar at the parallel market on Wednesday, 21st September 2022 fell to N712.5/$1, representing a 1.1% depreciation compared to N705/$1 recorded as of the close of trade Tuesday. This is according to information for black market traders.

Similarly, the local currency depreciated at the cryptocurrency peer-to-peer FX market, trading at a minimum of N716.59/$1 on Wednesday morning, a 0.3% decline from N714.4/$1 that it traded at the same time on Tuesday.

Meanwhile, the naira gained marginally against the US dollar on Tuesday to close at N436.25/$1, from N436.5/$1 that it closed in the previous trading session. Meanwhile, a total of $141.51 million was traded at the window, an increase of 244.98% when compared to $41.02 million recorded on Monday.

Nigeria’s external reserve stood at $38.57 billion as of 19th September 2022, a slight decline of 0.20% from $38.65 billion recorded as of the previous day. The nation’s foreign reserve has been on a downward trend due to the constant intervention by the CBN in the official market to maintain the stability of the local currency.

Trading at the official NAFEX window

The exchange rate at the official market closed at N436.25/$1 on Tuesday, 20th September 2022, from N436.5/$1 recorded on Monday, the previous trading session.

• The opening indicative rate closed at N435.07/$1 on Tuesday, 20th September 2022, as against N434.38 recorded in the previous session.
• Furthermore, an exchange rate of N437/$1 was the highest rate recorded during intra-day trading before it settled at N436.25/$1, while it traded as low as N425/$1 during intra-day trading.
• A total of $141.51 million in FX value was traded in the Investors and Exporters window on Tuesday, representing a 244.98% uptick from $41.02 million that exchanged hands on Monday.

Exchange rate between naira and dollar appreciates to N705/$1 at the black market on 20th September 2022

The exchange rate between the naira and the US dollar at the parallel market on Tuesday, 20th September 2022 appreciated to N705/$1, representing a 0.42 uptick compared to N708/$1 recorded as of the close of trade Monday. This is according to information for black market traders.

On the other hand, the local currency depreciated at the cryptocurrency peer-to-peer FX market, trading at a minimum of N714.4/$1 on Tuesday morning, a 0.102% decline from N713.67/$1 that it traded at the same time on Monday.

Likewise, the naira depreciated slightly against the US dollar to close at N436.5/$1 on Monday, 19th September 2022 from N436.25/$1 that it closed in the previous trading session. Meanwhile, a total of $41.02 million was traded at the window, a depreciation of 11.15% when compared to $46.17 million recorded on Friday.

Nigeria’s external reserve stood at $38.65 billion as of 16th September 2022, a slight decline of 0.11% from $38.69 billion recorded as of the previous day. The nation’s foreign reserve has been on a downward trend due to the constant intervention by the CBN in the official market to maintain the stability of the local currency.

Trading at the official NAFEX window

The exchange rate at the official market closed at N436.5/$1 on Monday, 19th September 2022, from N436.25/$1 recorded on Friday, the previous trading session.

• The opening indicative rate closed at N434.38/$1 on Monday, 19th September 2022, as against N434.67 recorded in the previous session.
• Furthermore, an exchange rate of N437.1/$1 was the highest rate recorded during intra-day trading before it settled at N436.5/$1, while it traded as low as N434/$1 during intra-day trading.
• A total of $41.02 million in FX value was traded in the Investors and Exporters window on Monday, representing a 11.15% fall from $46.17 million that exchanged hands on Friday.

Exchange rate between naira and dollar depreciates to N708/$1 at the black market on 19th September 2022

The exchange rate between the naira and the US dollar at the parallel market on Monday, 19th September 2022 depreciated to N708/$1, representing a 0.43% fall compared to N705/$1 recorded as of the close of trade last week Friday. This is according to information for black market traders.

Also, the local currency depreciated at the cryptocurrency peer-to-peer FX market, trading at a minimum of N713.67/$1 on Monday morning, a 0.025% decline from N713.49/$1 that it traded at the same time on Friday.

On the other hand, naira appreciated slightly against the US dollar to close at N436.25/$1 on Friday, 16th September 2022 from N436.33/$1 that it closed in the previous trading session. Meanwhile, a total of $46.17 million was traded at the window, a significant decline compared to $118.2 million recorded on Thursday.

Nigeria’s external reserve stood at $38.69 billion as of 15th September 2022, a slight decline of 0.12% from $38.76 billion recorded as of the previous day. The nation’s foreign reserve has been on a downward trend due to the constant intervention by the CBN in the official market to maintain the stability of the local currency.

Trading at the official NAFEX window

The exchange rate at the official market closed at N436.25/$1 on Friday, 16th September 2022, from N436.33/$1 recorded on Thursday, the previous trading session.

• The opening indicative rate closed at N434.67/$1 on Friday, 16th September 2022, as against N434.75 recorded in the previous session.
• Furthermore, an exchange rate of N437/$1 was the highest rate recorded during intra-day trading before it settled at N436.25/$1, while it traded as low as N434.5/$1 during intra-day trading.
• A total of $46.17 million in FX value was traded in the Investors and Exporters window on Friday which is 60.94% lower than $118.2 million that exchanged hands on Thursday.

Exchange rate between naira and dollar appreciates to N705/$1 at the black market on 16th September 2022

The exchange rate between the naira and the US dollar at the parallel market on Friday, 16th September 2022 appreciated marginally to N705/$1, representing a 0.14% improvement compared to N706/$1 recorded in the previous trading session. This is according to information for black market traders.

According to the black market traders, they sell dollars at the rate of N703/$1 for those who prefer transfer, while for cash transactions it is sold at N705/$1. They attributed the disparity to the lack of cash in the market.

In this vein, the exchange rate at the official I&E window appreciated slightly by 0.04% to close at N436.33/$1 on Thursday, 15th September 2022 from N436.5/$1 recorded on Wednesday. Forex turnover also surged by 79.23% to $118.2 million as against the $65.95 million that exchanged hands on Wednesday.

The exchange rate at the cryptocurrency peer-to-peer FX market witnessed a marginal depreciation on Friday morning to trade at a minimum of N713.49/$1 on Friday morning, as against N713/$1 that it traded at the same time on Thursday.

Nigeria’s foreign reserve stood at $38.74 billion as of 14th September 2022, a slight dip of 0.12% from $38.78 billion recorded as of the previous day. The nation’s foreign reserve has been on a downward trend due to the constant intervention by the CBN in the official market to maintain the stability of the local currency.

Trading at the official NAFEX window

The exchange rate at the official market closed at N436.33/$1 on Thursday, 15th September 2022, from N436.5/$1 recorded on Wednesday, the previous trading session.

• The opening indicative rate closed at N434.75/$1 on Thursday, 15th September 2022, same as recorded in the previous session.
• Furthermore, the exchange rate of N438.45/$1 was the highest rate recorded during intra-day trading before it settled at N436.33/$1, while it traded as low as N420.5/$1 during intra-day trading.
• A total of $118.2 million in FX value was traded in the Investors and Exporters window on Thursday which is 79.23% higher than $65.95 million that exchanged hands on Wednesday.

Exchange rate between naira and dollar appreciates marginally to N706/$1 at the black market on 15th September 2022

The exchange rate between the naira and dollar at the parallel market on Thursday 15th September 2022 appreciated marginally to N706/$1, representing a 0.14% improvement compared to N707/$1 recorded in the previous trading session. This is according to information for black market traders.

On the other hand, the exchange rate at the official I&E window depreciated slightly to close at N436.5/$1 on Wednesday, 14th September 2022 from N436.04/$1 recorded on Tuesday. The depreciation in the closing exchange rate is following the 21.22% decline in the amount of FX traded in the I&E window.

Notably, a total of $65.95 million was recorded as forex turnover on Wednesday, which is 21.22% lower than the $83.71 million that exchanged hands on Tuesday.

The exchange rate at the cryptocurrency peer-to-peer FX market fell by 0.85% to trade at a minimum of N713/$1 on Thursday morning, as against N706.98/$1 that it traded at the same time on Wednesday.

Nigeria’s foreign reserve stood at $38.78 billion as of 13th September 2022, a slight dip of 0.09% from $38.82 billion recorded as of the previous day. The nation’s foreign reserve has been on a downward trend due to the constant intervention by the CBN in the official market to maintain the stability of the local currency.

Trading at the official NAFEX window

The exchange rate at the official market closed at N436.5/$1 on Wednesday, 14th September 2022, from N436.04/$1 recorded on Tuesday, the previous trading day.

• The opening indicative rate closed at N434.75/$1 on Wednesday, 14th September 2022, same as recorded in the previous session.
• Furthermore, the exchange rate of N437/$1 was the highest rate recorded during intra-day trading before it settled at N436.5/$1, while it traded as low as N423/$1 during intra-day trading.
• A total of $65.95 million in FX value was traded in the Investors and Exporters window on Wednesday which represents a 21.22% decline compared to the $83.71 million that exchanged hands on Tuesday.

Exchange rate between naira and dollar falls to N707/$1 at the black market on 14th September 2022

The exchange rate between the naira and dollar at the parallel market on Wednesday 14th September 2022 fell to N707/$1, representing a 0.28% depreciation compared to N705/$1 recorded in the previous trading session. This is according to information for black market traders. 

On the other hand, the exchange rate at the official I&E window has remained stable in the past week, albeit at a high rate as it closed at N436.04/$1 on Tuesday, 13th September 2022. This varies slightly when compared to N436.5/$1 recorded in the previous trading session. 

Meanwhile, a total of $83.71 million was recorded as forex turnover on Tuesday, which is 16.1% lower than the $99.78 million that exchanged hands on Monday. 

The exchange rate at the cryptocurrency peer-to-peer FX market fell by 0.35% to trade at N706.98/$1 on Wednesday morning, as against N704.5/$1 that it traded at the same time me on Tuesday. 

Nigeria’s foreign reserve stood at $38.82 billion as of 12th September 2022, a dip of 0.26% from $38.92 billion recorded as of the previous day. The nation’s foreign reserve has been on a downward trend due to the constant intervention by the CBN in the official market to maintain the stability of the local currency. 

Trading at the official NAFEX window 

The exchange rate at the official market closed at N436.04/$1 on Tuesday, 13th September 2022, from N436.5/$1 recorded on Monday, the previous trading day. 

• The opening indicative rate closed at N434.75/$1 on Tuesday, 13th September 2022, compared to N434.4/$1 recorded in the previous trading session. 
• Furthermore, the exchange rate of N437/$1 was the highest rate recorded during intra-day trading before it settled at N436.04/$1, while it traded as low as N435/$1 during intra-day trading. 
• A total of $83.71 million in FX value was traded in the Investors and Exporters window on Monday which is 16.11% lower than the $99.78 million that exchanged hands on Monday. 

Exchange rate between naira and dollar trades at N705/$1 at the black market on 13th September 2022 

Monday, 12th September 2022: The exchange rate between the naira and the US dollar at the I&E window closed at N436.5/$1, a slight depreciation of 0.04% compared to N436.33/$1 recorded on Friday, 9th September 2022.

The exchange rate at the parallel market traded at N705 to a dollar on Tuesday 13th September 2022, which represents a 0.14% appreciation from N706/$1 recorded in the previous trading day. 

In the same vein, the exchange rate at the cryptocurrency peer-to-peer FX market appreciated by 0.14% to trade at N704.5/$1 on Tuesday morning, as against N705/$1 that it traded as of the same time on Monday. 

Nigeria’s foreign reserve stood at $38.917 billion as of 9th September 2022, from $38.9157 billion recorded as of the previous day. The nation’s foreign reserve has been on a downward trend due to the constant intervention by the CBN in the official market to maintain the stability of the local currency. 

Trading at the official NAFEX window 

The exchange rate at the official market closed at N436.5/$1 on Monday, 12th September 2022, from N436.33/$1, recorded on Friday, last week. 

• The opening indicative rate closed at N434.4/$1 on Monday, 12th September 2022, compared to N433.83/$1 recorded in the previous trading session. 
• Furthermore, an exchange rate of N437/$1 was the highest rate recorded during intra-day trading before it settled at N436.5/$1, while it traded as low as N425/$1 during intra-day trading. 
• A total of $99.78 million in FX value was traded in the Investors and Exporters window on Monday which is 51.14% higher than the $66.02 million that exchanged hands on Friday. 

Exchange rate between naira and dollar trades at N706/$ at the black market on 12th September 2022

The exchange rate between the naira and the US dollar stood at N706/$1 on Monday, 12th September 2022 morning, a 0.28% appreciation compared to N708/$1 recorded on Friday, last week. This is according to information obtained from black market operators.

The local currency declined marginally against the US dollar to close at N436.33/$1 at the official exchange rate market (I&E window), representing a 0.002% depreciation compared to N436.32/$1 recorded in the previous trading session.

Meanwhile, a total of $66.02 million was traded at the official market on Friday, which is 76.05% higher than the $37.5 million that exchanged hands on Thursday, 8th September 2022.

On the other hand, the exchange rate at the cryptocurrency peer-to-peer FX market appreciated by 0.14% to trade at N705/$1 on Monday morning, as against N706/$1 that it traded as of the same time last week Friday.

Nigeria’s foreign reserve stood at $38.92 billion as of 8th September 2022, from $38.9156 billion recorded as of the previous day. The nation’s foreign reserve has been on a downward trend due to the constant intervention by the CBN in the official market to maintain the stability of the local currency.

Trading at the official NAFEX window

The exchange rate at the official market closed at N436.33/$1 on Friday, 9th September 2022, from N436.32/$1 recorded in the previous trading session.

• The opening indicative rate closed at N433.83/$1 on Friday, 9th September 2022, compared to N433.75/$1 recorded in the previous day.
• Furthermore, an exchange rate of N437/$1 was the highest rate recorded during intra-day trading before it settled at N436.33/$1, while it traded as low as N425/$1 during intra-day trading.
• A total of $66.02 million in FX value was traded in the Investors and Exporters window on Friday which is 76.1% higher than the $37.5 million that exchanged hands on Thursday.

Exchange rate between naira and dollar trades at N708/$ at the black market on 9th September 2022

The exchange rate between the naira and the US dollar stood at N708/$1 on Friday, 9th September 2022 morning, the same as recorded in the previous trading session. This is according to information obtained from black market operators.

Meanwhile, the exchange rate at the official Investors and Exporters window dipped further to close at N436.32/$ on Thursday, 8th September 2022, representing a slight appreciation of 0.04% when compared to N436.5/$1 recorded in the previous trading session.

The supply of forex fell marginally by 54.4% to stand at $37.5 million when compared to $82.23 million which was traded at the official market in the previous trading session.

On the other hand, the exchange rate at the cryptocurrency peer-to-peer FX market appreciated slightly by 0.03% to stand at N706/$1 on Friday morning, as against N706.54/$1 that it traded as of the same time the previous day.

Nigeria’s foreign reserve stood at $38.92 billion, recording a slight decline of 0.05% as of Tuesday 6th September 2022, from $38.94 billion recorded as of the previous day.. The nation’s foreign reserve has been on a downward trend due to the constant intervention by the CBN in the official market to maintain the stability of the local currency.

Trading at the official NAFEX window

The exchange rate at the official market closed at N436.5/$1 on Thursday, 8th September 2022, from N436/$1 recorded in the previous trading session.

• The opening indicative rate closed at N433.75/$1 on Thursday, 8th September 2022, compared to N431.88/$1 recorded in the previous day.
• Furthermore, an exchange rate of N437.5/$1 was the highest rate recorded during intra-day trading before it settled at N436.32/$1, while it traded as low as N425/$1 during intra-day trading.
• A total of $37.5 million in FX value was traded in the Investors and Exporters window on Thursday which is 54.40% lower than $82.23 million that exchanged hands the previous day.

Exchange rate between naira and dollar falls to N708/$ at the black market on 8th September 2022

The exchange rate between the naira and the US dollar depreciated further on Thursday, 8th September 2022 morning, trading at an average of N708/$1 compared to N704/$1 recorded in the previous trading session.

This is according to information obtained from black market operators. According to the traders, they buy dollar from individuals at a rate of N700, while they sell at an average of N708/$1 depending on the quantity.

Also, the exchange rate at the official Investors and Exporters window dipped further to close at N436.5/$ on Wednesday, 7th September 2022, representing a 0.11% depreciation when compared to N436/$1 recorded in the previous trading session.

A total of $82.23 million was traded at the official market, which is 30.4% higher than the $63.05 million that exchanged hands in the previous trading session.

On the other hand, the exchange rate at the cryptocurrency peer-to-peer FX market appreciated slightly by 0.05% to stand at N706.2/$1 on Thursday morning, as against N706.54/$1 that it traded as of the same time the previous day.

Nigeria’s foreign reserve stood at $38.92 billion, recording a slight decline of 0.05% as of Tuesday 6th September 2022, from $38.94 billion recorded as of the previous day.. The nation’s foreign reserve has been on a downward trend due to the constant intervention by the CBN in the official market to maintain the stability of the local currency.

Trading at the official NAFEX window

The exchange rate at the official market closed at N436.5/$1 on Wednesday, 7th September 2022, from N436/$1 recorded in the previous trading session.

• The opening indicative rate closed at N431.88/$1 on Wednesday, 7th September 2022, compared to N433/$1 recorded in the previous day.
• Furthermore, an exchange rate of N437.5/$1 was the highest rate recorded during intra-day trading before it settled at N436.5/$1, while it traded as low as N418/$1 during intra-day trading.
• A total of $82.23 million in FX value was traded in the Investors and Exporters window on Wednesday which is 30.42% higher than $63.05 million that exchanged hands the previous day.

Exchange rate between naira and dollar falls to N706/$ at the P2P market on 7th September 2022

6th September 2022: The naira fell to a record low of N436/$1 at the official Investors and Exporters window, representing a 0.29% depreciation compared to N434.75/$1 recorded in the previous trading session.

A total of $63.05 million in FX value was traded at the official market, a 36.8% decline compared to $99.68 million that exchanged hands in the previous trading session.

Also, the exchange rate at the cryptocurrency peer-to-peer FX market dipped by 0.22% to stand at N706.54/$1 on Wednesday morning, as against N704.99/$1 that it traded as of the same time the previous day.

Naira on the other hand appreciated slightly by 0.14% on Wednesday to trade at N704/$1 at the black market compared to N705/$1 recorded on Tuesday, 6th September 2022. This is according to information obtained from black market operators.

Nigeria’s foreign reserve stood at $38.94 billion, recording a slight decline of 0.16% as of Monday, 5th September 2022, from $38.99 billion recorded as of the previous day.. The nation’s foreign reserve has been on a downward trend due to the constant intervention by the CBN in the official market to maintain the stability of the local currency.

Trading at the official NAFEX window

The exchange rate at the official market closed at N436/$1 on Tuesday, 6th September 2022, from N434.75/$1 recorded in the previous trading session.

• The opening indicative rate closed at N433/$1 on Tuesday, 6th September 2022, compared to N431.3/$1 recorded in the previous day.
• Furthermore, an exchange rate of N437/$1 was the highest rate recorded during intra-day trading before it settled at N436/$1, while it traded as low as N425/$1 during intra-day trading.
• A total of $63.05 million in FX value was traded in the Investors and Exporters window on Tuesday which is 36.75% lower than $99.68 million that exchanged hands the previous day.

Exchange rate between naira and dollar falls to N705/$ at black market on 5th September 2022

5th September 2022: The exchange rate between the naira and US dollar fell to record low of N434.75/$1 at the official Investors and Exporters window, representing a 0.75% depreciation compared to N431.5/$1 recorded in the previous trading session.

The depreciation of the local currency against the USD is despite the 6.56% in the amount of forex traded in the market. Notably, forex turnover increased from $93.54 million traded on Friday, 2nd September 2022 to $99.68 million on Monday.

Also, the exchange rate at the cryptocurrency peer-to-peer FX market fell by 0.569% to stand at N704.99/$1 on Tuesday morning, compared to N701/$1 that it traded as of the same time the previous day.

In the same vein, Naira closed at N705/$1 on Monday, 5th September 2022 at the black market from N702/$1 recorded in the previous trading session. This is according to information obtained from black market operators.

Similarly, Nigeria’s foreign reserve recorded a slight decline of 0.07% to stand at $38.99 billion as of Friday, 2nd September 2022, from $39.02 billion recorded as of the previous day.. The nation’s foreign reserve has been on a downward trend due to the constant intervention by the CBN in the official market to maintain the stability of the local currency.

Trading at the official NAFEX window

The exchange rate at the official market closed at N434.75/$1 to a dollar on Monday, 5th September 2022, from N431.5/$1 recorded in the previous trading session.

• The opening indicative rate closed at N431.3/$1 on Monday, 5th September 2022, compared to N429.1/$1 recorded in the previous day.
• Furthermore, an exchange rate of N437.5/$1 was the highest rate recorded during intra-day trading before it settled at N434.75/$1, while it traded as low as N425/$1 during intra-day trading.
• A total of $99.68 million in FX value was traded in the Investors and Exporters window on Friday which is 6.56% higher than $93.54 million that exchanged hands the previous day.

Naira falls to N705/$1 at black market as FX liquidity remains low

The exchange between the naira and the US dollar fell to N705/$1 for those buying FX at the black market. This represents a 0.43% depreciation when compared to N702/$1 recorded on Friday, 2nd September 2022.

This is according to information from black market forex traders around Lagos State. Meanwhile, the exchange rate at the official market also fell to a record low of N431.5/$1 in the last trading session, hitting an intra-day high of N444/$1.

A total of $93.54 million exchanged hands on Friday, representing a 25.25% increase compared to $74.68 million traded on Thursday, 1st September 2022. The volume of forex traded during the week averaged $82.9 million per day, in contrast to $126.8 million recorded in the previous week.

Similarly, the exchange rate at the cryptocurrency peer-to-peer FX exchange likewise depreciated slightly to N701.8/$1 during mid-day trading on Monday from N697.5/$1 recorded as of the same time on Friday. This represents a 0.62% fall against the US dollar in the P2P market.

Also, Nigeria’s foreign reserve recorded a slight decline of 0.002% to stand at $39.02 billion. The nation’s foreign reserve has been on a downward trend due to the constant intervention by the CBN in the official market to maintain the stability of the local currency.

Trading at the official NAFEX window

The exchange rate at the official market closed at N431.5/$1 to a dollar on Friday, 2nd September 2022, from N430/$1 recorded in the previous trading session.

• The opening indicative rate closed at N429.1/$1 on Friday, 2nd September 2022, compared to N429/$1 recorded in the previous day.
• Furthermore, an exchange rate of N444/$1 was the highest rate recorded during intra-day trading before it settled at N431.5/$1, while it traded as low as N418/$1 during intra-day trading.
• A total of $93.54 million in FX value was traded in the Investors and Exporters window on Friday which is 25.25% higher than $74.68 million that exchanged hands the previous day.

Naira depreciates marginally at official market as external reserve stands at $39 billion 

Thursday, 1st September 2022: The exchange rate between the naira and the US dollar closed at N430/$1 at the Investors and Exporters window, where forex is traded officially. 

Naira closed at N430/$1 on Thursday, 1st September 2022, representing a marginal depreciation of 0.13% compared to N429.44/$1 recorded in the previous trading session. The value of FX supply that exchanged hands on Thursday totalled $74.68 million which is 31.78% lower than $109.47 million traded on Wednesday, 31st August, 2022. 

The exchange rate at the cryptocurrency peer-to-peer FX exchange likewise depreciated to N697.5/$1 on Friday morning from N693.2/$1 recorded as of the same time on Thursday. This represents a 0.62% fall against the US dollar in the P2P market. 

Also, the exchange rate at the parallel market depreciated by 0.43% to close at N700/$1 on Thursday from N697/$1 traded on Wednesday. This is according to information gathered by Nairametrics from black market FX traders. 

In the same vein, Nigeria’s foreign reserve continued its gains on Wednesday, as the reserve gained 0.02% to stand at $39.02 billion. The nation’s foreign reserve had been on a downward trend due to the constant intervention by the CBN in the official market to maintain the stability of the local currency. 

Trading at the official NAFEX window 

The exchange rate at the official market closed at N430/$1 to a dollar on Thursday, 1st September 2022, from N429.44/$1 recorded in the previous trading session. 

• The opening indicative rate closed at N429/$1 on Thursday, 1st September 2022, compared to N429.17/$1 recorded in the previous day. 
• Furthermore, an exchange rate of N437/$1 was the highest rate recorded during intra-day trading before it settled at N430/$1, while it traded as low as N417/$1 during intra-day trading. 
• A total of $74.68 million in FX value was traded in the Investors and Exporters window on Thursday, a 31.78% dip from $109.47 million that exchanged hands in the previous day. 

Naira falls to N453/$1 during intra-day trading at official market

Wednesday, 31st August 2022: The exchange rate between the naira and the US dollar closed at N429.44/$1 at the Investors and Exporters window, where forex is traded officially. Naira had traded at a record high of N453.2/$1 during intra-day trading before moderating to N429.44/$1 on Wednesday.

Naira closed on a positive note on Wednesday, 31st August 2022, gaining 0.36% to close at N429.44/$1 compared to N431/$1 recorded in the previous trading session. A total of $109.47 million in FX value exchanged hands on Wednesday.

Similarly, the exchange rate at the cryptocurrency peer-to-peer FX exchange appreciated to N693.2/$1 on Thursday morning from N699.04/$1 recorded as of the same time on Wednesday. This represents a 0.84% gain against the US dollar at the P2P market.

In the same vein, Nigeria’s foreign reserve continued its gains on Tuesday, as the reserve gained 0.03% to stand at $39.02 billion, surpassing the $39 billion threshold once again. The nation’s foreign reserve had been on a downward trend due to the constant intervention by the CBN in the official market to maintain the stability of the local currency.

Trading at the official NAFEX window

The exchange rate at the official market closed at N429.44/$1 to a dollar on Wednesday, 31st August 2022, from N431/$1 recorded in the previous trading session.

• The opening indicative rate closed at N429.17/$1 on Wednesday, 31st August 2022.
• Furthermore, an exchange rate of N453/$1 was the highest rate recorded during intra-day trading before it settled at N429.44/$1, while it traded as low as N418/$1 during intra-day trading.
• A total of $109.47 million in FX value was traded in the Investors and Exporters window on Wednesday..

Forex supply falls further to $54 million as exchange rate remains stable

Monday, 29th August 2022: The exchange rate between the naira and the US dollar closed at N430.67/$1 at the Investors and Exporters window, where forex is traded officially.

Naira remained stable at the I&E window on Monday, closing at the same rate recorded in the previous trading session, despite the further decline in the amount of forex traded at the official market. Specifically, forex turnover decreased by 34.3% to $54.13 million from $82.38 million recorded on Friday, 26th August 2022.

Meanwhile, the exchange rate at the cryptocurrency peer-to-peer FX exchange traded at N699.29/$1 on Friday morning, a 0.09% appreciation when compared to N699.92/$1 recorded as of the same time on Monday.

Trading at the official NAFEX window

The exchange rate at the official market closed at N430.33/$1 to a dollar on Monday, 29th August 2022, the same as recorded in the previous trading session.

• The opening indicative rate closed at N429.07/$1 on Monday, 29th August 2022, from N428.5/$1 recorded on Friday of the previous week.
• Furthermore, an exchange rate of N432/$1 was the highest rate recorded during intra-day trading before it settled at N430.33/$1, while it traded as low as N417/$1 during intra-day trading.
• A total of $54.13 million in FX value was traded on Monday, which is 34.29% lower than the $82.38 million that exchanged hands on Friday, 26th August 2022.

Forex supply falls to $82.9 million as exchange rate depreciates to N698/$1 at black market

Thursday, 25th August 2022: The exchange rate between the naira and the US dollar closed at N430.67/$1 at the Investors and Exporters window, where forex is traded officially.

Naira appreciated slightly against the US dollar on Thursday, by 0.08% to close at N430.67/$1 compared to N431/$1 recorded in the previous trading session. The supply of forex that exchange hands dipped significantly by 36.88% to stand at $82.88 million as against $131.30 million traded on Wednesday.

On the flip side, the exchange rate at the cryptocurrency peer-to-peer FX exchange traded at N697/$1 on Friday morning, a 0.14% depreciation when compared to N696/$1 recorded as of the same time on Thursday.

Similarly, naira closed trading at N698/$1 at the black market on Thursday, indicating a 0.29% depreciation against the US dollar, representing the lowest level since August 1, 2022. This is according to information from black market operators.

Meanwhile, Nigeria’s external reserves declined slightly by 0.003% on Wednesday, 24th August 2022, to stand at $38.94 billion from $38.941 billion recorded in the previous trading trade. The reserve level had dropped significantly year-to-date due to the constant intervention by the CBN in the official FX market in a bid to manage exchange rate volatility.

Trading at the official NAFEX window

The exchange rate at the official market closed at N430.67/$1 to a dollar on Thursday, 25th August 2022 recording an improvement of 0.08% compared to N431/$1 recorded on Wednesday, 24th August 2022.

• The opening indicative rate closed at N429.75/$1 on Thursday, 25th August 2022, from N428.67/$1 recorded on Wednesday.
• Furthermore, an exchange rate of N444/$1 was the highest rate recorded during intra-day trading before it settled at N430.67/$1, while it traded as low as N417/$1 during intra-day trading.
• A total of $82.88 million in FX value was traded on Thursday, which is 36.9% lower than the $131.3 million that exchanged hands on Wednesday, 24th August 2022.

Naira depreciates to N696/$1 at P2P forex market

Wednesday, 24th August 2022: The exchange rate between the naira and the US dollar closed at N431/$1 at the Investors and Exporters window, where forex is traded officially.

Naira depreciated further against the US dollar on Wednesday, representing the third consecutive day of decline as the exchange rate dipped by 0.08% to close at N431/$1 compared to N430.67/$1 recorded in the previous trading session.

Similarly, the exchange rate at the cryptocurrency peer-to-peer FX exchange traded at N696/$1 on Thursday morning, a 0.45% depreciation when compared to N696/$1 recorded as of the same time on Wednesday.

Meanwhile, Nigeria’s external reserves improved slightly by 0.003% on Tuesday, 23rd August 2022, to stand at $38.941 billion from $38.94 billion recorded in the previous trading trade. The reserve level had dropped significantly year-to-date due to the constant intervention by the CBN in the official FX market in a bid to manage exchange rate volatility. However, improved non-oil export earnings is beginning to elevate the reserves, albeit very low.

Trading at the official NAFEX window

The exchange rate at the official market closed at N431/$1 to a dollar on Wednesday, 24th August 2022 recording a dip of 0.08% compared to N430.67/$1 recorded on Tuesday, 23rd August 2022.

• The opening indicative rate closed at N428.67/$1 on Wednesday, 24th August 2022, from N429.07/$1 recorded on Tuesday.
• Furthermore, an exchange rate of N444/$1 was the highest rate recorded during intra-day trading before it settled at N431/$1, while it traded as low as N417/$1 during intra-day trading.
• A total of $131.3 million in FX value was traded on Wednesday, which is 25.3% lower than the $175.67 million that exchanged hands on Tuesday, 23rd August 2022.

Naira falls across forex markets as foreign reserve gains

Tuesday, 23rd August 2022: The exchange rate between the naira and the US dollar closed at N430.67/$1 at the official foreign exchange market.

Naira depreciated against the US dollar on Tuesday, representing the second consecutive bearish movement after the exchange rate dipped by 0.29% to close at N430.67/$1 compared to N429.43/$1 recorded in the previous trading session at the Investors and Exporters window.

In the same vein, the exchange rate at the cryptocurrency peer-to-peer FX exchange traded at N692.9/$1 on Wednesday morning, a 0.28% depreciation when compared to N691/$1 recorded as of the same time on Tuesday.

Also, naira dipped against the US dollar at the parallel market on Tuesday, depreciating by 0.15% to close at N688/$1 from N687/$1 recorded on Monday, 22nd August 2022. This is according to information from black market FX traders.

Nigeria’s external reserves improved slightly by 0.07% on Monday, 22nd August 2022, to stand at $38.94 billion from $38.91 billion recorded in the previous trading trade. The reserve level had dropped significantly year-to-date due to the constant intervention by the CBN in the official FX market in a bid to manage exchange rate volatility. However, improved non-oil export earnings is beginning to elevate the reserves, albeit very low.

Trading at the official NAFEX window

The exchange rate at the official market closed at N430.64/$1 to a dollar on Tuesday, 23rd August 2022 recording a dip of 0.29% compared to N429.43/$1 recorded on Monday, 22nd August 2022.

• The opening indicative rate closed at N429.07/$1 on Tuesday, 23rd August 2022, the same as 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 N430.67/$1, while it traded as low as N417/$1 during intra-day trading.
• A total of $175.67 million in FX value was traded on Tuesday, which is 8.48% higher than the $161.94 million that exchanged hands on Monday, 22nd August 2022.

Naira depreciates at P2P market to N691/$1 despite 222% surge in forex supply

Monday, 22nd August 2022: The exchange rate between the naira and the US dollar closed at N429.43/$1 at the official foreign exchange market.

The exchange rate dipped slightly to close at N429.43/$1 compared to N429.05/$1 recorded on Friday 19th August, 2022, representing a 0.09% depreciation. Meanwhile, forex supply surged by 222.3% to $161.94 million from 50.22 million that exchanged hands in the previous trading session.

Similarly, Naira traded at N691/$1 on Tuesday morning, 23rd August 2022 at the peer-to-peer FX market, indicating a depreciation of 0.16% compared to N689.9/$1 recorded in the previous trading session.

Nigeria’s external reserves improved slightly by 0.012% on Monday, 22nd August 2022, to stand at $38.912 billion from $38.907 billion recorded in the previous trading trade. The reserve level had dropped significantly year-to-date due to the constant intervention by the CBN in the official FX market in a bid to manage exchange rate volatility. However, improved non-oil export earnings is beginning to elevate the reserves, albeit very low.

Trading at the official NAFEX window

The exchange rate at the official market closed at N429.43 to a dollar on Monday, 22nd August 2022 recording a dip of 0.09% compared to N429.05/$1 recorded on Friday, 19th August 2022.

• The opening indicative rate closed at N429.07/$1 on Monday, 22nd August 2022, compared to N428/$1 recorded in the last trading session.
• Furthermore, an exchange rate of N432/$1 was the highest rate recorded during intra-day trading before it settled at N429.43/$1, while it traded as low as N415/$1 during intra-day trading.
• A total of $161.94 million in FX value was traded on Monday, which is 222.46% higher than the $50.22 million that exchanged hands on Friday, 19th August 2022.

Naira appreciates slightly at black market, trades at N677/$1

Wednesday, 17th August 2022: The exchange rate between the naira and the US dollar closed at N429.38/$1 at the Investors and Exporters (I&E) window, where forex is traded officially.

Naira appreciated slightly, with a gain of 0.3% on Wednesday to close at N429.38 at the official market compared to N430.67/$1 recorded in the previous trading session. Notably, forex turnover also increased by 134.4% to stand at $118.14 million traded on Wednesday from $50.4 million traded on Tuesday, 16th August 2022.

Similarly, Naira traded at N679.5/$1 in the early hours of Thursday, 18th August 2022 at the peer-to-peer FX market, indicating a 0.13% appreciation against the US dollar compared to N680.4/$1 recorded in the previous trading session.

Also, the exchange rate at the parallel market appreciated marginally on Thursday, 18th August 2022, with a gain of 0.44% to trade at N677/$1 from N680/$1 recorded on Wednesday. This is according ot information from black market FX traders across the country.

Nigeria’s external reserves on Tuesday, 16th August 2022, dipped slightly by 0.01% to stand at $38.894 billion from $38.896 billion recorded as of the previous week. The reserve level had been on a downturn in recent times, due to the constant intervention by the CBN in the official FX market in a bid to manage exchange rate volatility.

Trading at the official NAFEX window

The exchange rate at the official market appreciated on Wednesday, 17th August 2022 by 0.3% to close at N429.38 to a dollar compared to N430.67/$1 recorded on Tuesday, 16th August 2022.

• The opening indicative rate closed at N427.58/$1 on Wednesday, 17th August 2022, compared to N429.88/$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 N429.38/$1, while it traded as low as N417/$1 during intra-day trading.
• A total of $118.14 million in FX value exchanged hands on Wednesday, which is 134.4% higher than the $50.4 million that was traded in the previous trading session.

Nigeria’s foreign reserve continues improvement as Naira dips further at I&E window 

Tuesday, 16th August 2022: The exchange rate between the naira and the US dollar closed at N430.67/$1 at the Investors and Exporters (I&E) window, where forex is traded officially. 

Naira depreciated by 0.16% to close trading at N430.67 at the official market. This follows a 62.5% decline in the amount of traded FX in the market. Notably, forex turnover fell from $134.3 million traded on Monday to $50.4 million on Tuesday, 16th August 2022. 

Similarly, Naira depreciated on Wednesday morning, trading at a minimum of N680.4/$1 compared to N676.38/$1 recorded in the previous trading session. 

Nigeria’s external reserves on Monday, 15th August 2022, continued their uptrend after gaining 0.03% to stand at $38.89 billion from $38.88 billion recorded as of the previous week. The reserve level had been on a downturn in recent times, due to the constant intervention by the CBN in the official FX market in a bid to manage exchange rate volatility. 

Trading at the official NAFEX window 

The exchange rate at the official market depreciated on Tuesday, 16th August 2022 by 0.16% to close at N430.67 to a dollar compared to N430/$1 recorded on Monday, 15th August 2022. 

• The opening indicative rate closed at N429.88/$1 on Tuesday, 16th August 2022, compared to N429.7/$1 recorded in the previous trading session. 
• Furthermore, an exchange rate of N432/$1 was the highest rate recorded during intra-day trading before it settled at N430.67/$1, while it traded as low as N417/$1 during intra-day trading. 

• A total of $50.4 million in FX value exchanged hands on Tuesday, which is 62.47% lower than the $134.3 million that was traded in the previous trading session. 

Official exchange rate closes at N430/$1 as FX supply surges by 190% to $134.30 million

Monday, 15th August 2022: The exchange rate between the naira and the US dollar closed at N430/$1 at the Investors and Exporters (I&E) window, where forex is traded officially.

Naira depreciated by 0.09% on Monday, 15th August 2022 to close trading at N430/$1 from N429.62/$1 recorded in the previous trading session. However, forex supply inclined significantly by 190% to $134.3 million from $46.31 million that exchanged hands on Friday, 12th August 2022.

On the other hand, Naira recorded a marginal appreciation on Tuesday morning, trading at a minimum of N676.38/$1 compared to N678.98/$1 recorded in the previous trading session.

Meanwhile, at the parallel market, the Naira fell to N678/$1 on Monday, closing with a 0.44% depreciation compared to N675/$1 recorded in the previous trading session as FX traders continued to lament the scarcity of forex and sustained high demand. This is according to information obtained from black market FX traders.

Nigeria’s external reserves recorded a rare gain on Friday, 12th August 2022, after the reserve level improved slightly by 0.01% to stand at $38.884 billion, from $38.881 billion recorded as of the previous day. The reserve level had been on a downturn in recent times, due to the constant intervention by the CBN in the official FX market in a bid to manage exchange rate volatility.

Trading at the official NAFEX window

The exchange rate at the official market depreciated on Monday, 15th August 2022 by 0.09% to close at N430 to a dollar as against the N429.62/$1 recorded on Friday, 12th August 2022.

• The opening indicative rate closed at N429.70/$1 on Monday, 15th August 2022, compared to N429.67/$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 N430/$1, while it traded as low as N417/$1 during intra-day trading.
• A total of $134.30 million in FX value exchanged hands on Monday, which is 190% higher than the $46.31 million that was traded in the previous trading session.

Black market rate depreciates to N675/$1 as foreign reserve falls sharply below $39 billion

Tuesday, 9th August 2022: The exchange rate between the naira and the US dollar closed at N428.75/$1 at the Investors and Exporters (I&E) window, where forex is traded officially.

Naira appreciated by 0.52% on Tuesday, 9th August 2022 to close trading at N428.75/$1 from N431/$1 recorded in the previous trading session. On the flip side, forex supply declined marginally by 1.75% to $113.64 million from $115.67 million that was traded on Monday, 8th August 2022.

On the other hand, at the peer-to-peer market, Naira fell to N681.84/$1 on Wednesday morning from N670.4/$1 recorded as of the same time on Tuesday, representing a 1.71% decline compared to the previous day.

Similarly at the black market, Naira depreciated to N675/$1 on Tuesday, closing with a 1.5% decline compared to N665/$1 recorded in the previous trading session as FX traders lament the scarcity of forex and sustained high demand. This is according to information obtained from black market FX traders.

Nigeria’s external reserves fell sharply below the $39 billion mark on Monday, 8th August 2022, dropping by 0.24% to stand at $38.95 billion from $39.05 billion recorded as of the previous day. This is largely due to the constant intervention by the CBN in the Investors and Exporters window, to manage exchange rate volatility.

Trading at the official NAFEX window

The exchange rate at the official market appreciated on Tuesday, 9th August 2022 by 0.52% to close at N428.75 to a dollar as against the N431/$1 recorded on Monday, 8th August 2022.

• The opening indicative rate closed at N429.58/$1 on Tuesday, 9th August 2022, compared to N429/$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 N428.75/$1, while it traded as low as N417/$1 during intra-day trading.
• A total of $113.64 million in FX value exchanged hands on Tuesday, which is 1.75% lower than the $115.67 million that was traded in the previous trading session.

Naira falls to N431/$1 at I&E window despite $115.7 million forex turnover

Monday, 8th August 2022: The exchange rate between the naira and the US dollar closed at N431/$1 at the Investors and Exporters (I&E) window, where forex is traded officially.

Naira started the week on a bearish note, with a 0.67% depreciation to close at N431/$1 compared to N428.12/$1 recorded in the previous trading session. This is despite a 60.83% increase in the amount of forex traded in the market at $115.67 million.

In the same vein, at the peer-to-peer market, naira fell to N670.4/$1 on Tuesday morning from N662.4/$1 recorded as of the same time on Monday, representing a 1.21% decline compared to the previous day.

Nigeria’s external reserves rose for the second time in a row, after dropping consecutively for almost a month. The reserve level gained 0.03% to stand at $39.09 billion as of Thursday, 4th August 2022 from $39.07 billion recorded as of the previous day.

Trading at the official NAFEX window

The exchange rate at the official market depreciated on Monday, 8th August 2022 by 0.67% to close at N431 to a dollar as against the N428.12/$1 recorded on Friday, 5th August 2022.

• The opening indicative rate closed at N429/$1 on Monday, 8th August 2022, the same as 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 N431/$1, while it traded as low as N415/$1 during intra-day trading.
• A total of $115.67 million in FX value exchanged hands on Monday, which is 60.83% higher than the $71.92 million that was traded in the previous trading session.

Naira appreciates at I&E window as foreign reserves records first gain in two weeks

Thursday, 4th August 2022: The exchange rate between the naira and the US dollar closed at N428.12/$1 at the Investors and Exporters (I&E) window, where forex is traded officially.

Naira closed higher on Thursday, with a 0.25% appreciation against the US dollar to close at N428.12/$1 compared to N429.2/$1 recorded in the previous trading session. A total of $110.22 million was traded on Thursday, representing a 100.955% decrease when compared to the $123.78 million traded on Wednesday.

On the other hand, at the peer-to-peer market, naira fell to N651/$1 on Friday morning from N616.66/$1 recorded as of the same time on Thursday, representing a 5.6% decline compared to the previous day.

Nigeria’s external reserves rose for the first time in over two weeks, gaining marginally by 0.01% to stand at $39.07 billion from $39.07 billion recorded in the previous day. The reserve level had depreciated for eleven consecutive days, largely due to the constant intervention by the apex bank in the I&E window.

Trading at the official NAFEX window

The exchange rate at the official market appreciated on Thursday, 4th August 2022 by 0.25% to close at N428.12 to a dollar as against the N430.67/$1 recorded on Wednesday, 3rd August 2022.

• The opening indicative rate closed at N428.33/$1 on Thursday, 4th August 2022 from N427.9/$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 N428.12/$1, while it traded as low as N415/$1 during intra-day trading.
• A total of $110.22 million in FX value exchanged hands on Thursday, which is 10.95% lower than the $123.78 million that was traded in the previous trading session.

Exchange rate appreciates to N616/$1 at peer-to-peer FX market

Wednesday, 3rd August 2022: The exchange rate between the naira and the US dollar closed at N429.2/$1 at the Investors and Exporters (I&E) window, where forex is traded officially.

Naira closed on a positive note on Wednesday, with a 0.34% appreciation against the US dollar to close at N429.2/$1 compared to N430.67/$1 recorded in the previous trading session. A total of $123.78 million was traded in the market on Wednesday, representing a 21.9% increase when compared to the $158.68 million traded on Tuesday.

In the same vein, the exchange rate at the black market appreciated on Wednesday to close at N665/$1 compared to N670/$1 recorded on Tuesday, representing a 0.75% currency appreciation against the US dollar.

Similarly, at the peer-to-peer market, naira rose to N616.66/$1 on Thursday morning from N652.5/$1 recorded on Wednesday, representing a rally of 5.5% compared to the previous day. This is following a shocking depreciation recorded in the previous week, when the naira fell to a record N705/$1 as a result of FX scarcity and panic buying.

Meanwhile, Nigeria’s external reserves recorded its eleventh consecutive decline on Tuesday, dropping by 0.1% to stand at $39.07 billion from $39.1 billion recorded as of Monday, 1st August 2022. The decline in the country’s external reserve could be attributed to the increased flow of FX in the official market in the past two days.

Trading at the official NAFEX window

The exchange rate at the official market appreciated on Wednesday, 3rd August 2022 by 0.34% to close at N429.2 to a dollar as against the N430.67/$1 recorded on Tuesday, 2nd August 2022.

• The opening indicative rate closed at N427.9/$1 on Wednesday, 3rd August 2022 from N427.75/$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 N429.2/$1, while it traded as low as N414/$1 during intra-day trading.
• A total of $123.78 million in FX value exchanged hands on Wednesday, which is 21.9% lower than the $158.68 million that was traded in the previous trading session.

Naira falls at I&E window despite a 163% surge in forex supply

Tuesday, 2nd August 2022: The exchange rate between the naira and the US dollar closed at N430.67/$1 at the official Investors and Exporters (I&E) window.

Naira closed on a bearish note on Tuesday, falling by 0.42% to close at N430.67/$1 from N428.88/$1 recorded in the previous trading session. This is despite the 163.3% increase in forex turnover to $158.68 million.

On the other hand, the exchange rate at the black market recorded a significant appreciation on Tuesday, closing at N670/$1 compared to N718/$1 recorded on Monday, representing a 6.69% currency appreciation against the US dollar.

Similarly, at the peer-to-peer market, naira rose to N652.5/$1 on Wednesday morning from N669/$1 recorded on Tuesday. This is following a shocking depreciation recorded in the previous week, when the naira fell to a record N705/$1 as a result of FX scarcity and panic buying.

Meanwhile, Nigeria’s external reserves recorded its tenth consecutive decline on Monday, dropping by 0.23% to stand at $39.1 billion from $39.18 billion recorded as of Friday, 29th July 2022. The decline in the country’s external reserve could be attributed to the increased flow of FX in the official market in the past two days.

Trading at the official NAFEX window

The exchange rate at the official market depreciated on Tuesday, 2nd August 2022 by 0.42% to close at N430.67 to a dollar as against the N428.88/$1 recorded on Monday, 1st August 2022.

• The opening indicative rate closed at N427.75/$1 on Tuesday, 2nd August 2022 from N428.633/$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 N430.67/$1, while it traded as low as N415/$1 during intra-day trading.
• A total of $158.68 million in FX value exchanged hands on Tuesday, which is 163.28% higher than the $60.27 million that was traded in the previous trading session.

Official exchange rate falls to record low at N431/$1

Tuesday, 26th July 2022: The exchange rate between the naira and the US dollar closed at N431/$1 at the official Investors and Exporters (I&E) window.

Naira closed on a bearish note on Tuesday, falling by 0.9% to close at N431/$1 from N427.17/$1 recorded at the start of the week, the lowest rate recorded at the official market year-to-date. In the same vein, forex turnover declined by 35.37% to $58.03 million compared to $89.79 million that exchanged hands in the previous trading session.

Also, with further scarcity of forex in the market, the exchange rate at the peer-to-peer market depreciated significantly to a record low of N685.5/$1 in the early hours of Wednesday, representing a 2.77% decline compared to N667/$1 recorded on Tuesday morning. This is the highest rate recorded in the unofficial market, according to data tracked by Nairalytics.

Meanwhile, Nigeria’s external reserves recorded its fifth consecutive decline on Monday, dropping by 0.21% to stand at $39.31 billion from $39.39 billion recorded as of Friday, 22nd July 2022. The decline in the country’s external reserve could be attributed to the increased flow of FX in the official market in the past two days.

Trading at the official NAFEX window

• The exchange rate at the official market depreciated on Tuesday, 26th July 2022 by 0.9% to close at N431 to a dollar as against the N427.17/$1 recorded on Monday, 25th July 2022.
• The opening indicative rate closed at N427.3/$1 on Tuesday, 26th July 2022 from N427.63/$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 N431/$1, while it traded as low as N414/$1 during intra-day trading.
• A total of $58.03 million in FX value exchanged hands on Tuesday, which is 35.37% lower than the $89.79 million that was traded in the previous trading session.

Official exchange rate appreciates as forex supply surges by 146%

Monday, 25th July 2022: The exchange rate between the naira and the US dollar closed at N427.17/$1 at the Investors and Exporters (I&E) window, where forex is traded officially. 

Naira started the week with a 0.66% appreciation against the US dollar at the official market to close at N427.17/$1 compared to N430/$1 recorded in the previous trading session. The upward movement in the local currency is following the 146.2% increase in the amount of forex traded on the floor of the exchange. 

Also, with the further scarcity of forex in the market, the exchange rate at the peer-to-peer market depreciated significantly to a record low of N667/$1 in the early hours of Tuesday, representing a 1.72% decline compared to N655.73/$1 recorded on Monday morning. This is the highest rate recorded in the unofficial market, according to data tracked by Nairalytics. 

Meanwhile, Nigeria’s external reserves recorded its fourth consecutive decline on Friday, dropping by 0.05% to stand at $39.39 billion from $39.41 billion recorded as of Thursday, 21st July 2022. The decline in the country’s external reserve could be attributed to the increased flow of FX in the official market in the past two days. 

The CBN had explained during the last MPC session that Nigeria’s external reserve grew in the month of June 2022 as a result of increased non-oil export and improvement in diaspora remittances through its RT200 and Naira4dollar programmes respectively. 

Trading at the official NAFEX window 

The exchange rate at the official market appreciated on Monday, 25th July 2022 by 0.66% to close at N427.17 to a dollar as against the N430/$1 recorded on Friday, 22nd July 2022. 

• The opening indicative rate closed at N427.63/$1 on Monday, 25th from N427/$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 N427.17/$1, while it traded as low as N414/$1 during intra-day trading. 
• A total of $89.79 million in FX value exchanged hands on Monday, which is 146.2% higher than the $36.47 million that was traded in the previous trading session. 

Exchange rate skyrockets to N644/$1 at peer-to-peer market as forex scarcity lingers

Wednesday, 20th July 2022: The exchange rate between the naira and the US dollar closed at N426.58/$1 at the Investors and Exporters (I&E) window, where forex is traded officially. 

Naira retracted on Wednesday, depreciating by 0.57% to close at N426.58/$, from N424.17/$1 recorded in the previous trade session. In the same vein, forex supply fell by 62.45% to $144.03 million from the record of #383.59 million that was traded on Tuesday. 

Also, with the further scarcity of forex in the market, the exchange rate at the peer-to-peer market depreciated significantly to a record low of N644.25/$1 in the early hours of Thursday, representing a 1.44% decline compared to N635.1/$1 recorded on Wednesday morning. This is the highest rate recorded in the unofficial market, according to data tracked by Nairalytics. 

On the other hand, the exchange rate at the parallel market appreciated slightly by 0.16% to close trading activities on Wednesday at N629/$1 compared to N630/$1 recorded in the previous trading session. This is according to information from Bureau De Change operators. 

Nigeria’s external reserves recorded its first decline in over one month on Tuesday, 19th July 2022, falling by 0.02% to stand at $39.43 billion compared to $39.44 billion recorded as of the previous day. The decline in the country’s external reserve could be attributed to the increased flow of FX in the official market in the past two days. 

The CBN had explained during the last MPC session that Nigeria’s external reserve grew in the month of June 2022 as a result of increased non-oil export and improvement in diaspora remittances through its RT200 and Naira4dollar programmes respectively. 

Trading at the official NAFEX window 

The exchange rate at the official market depreciated on Wednesday, 20th July 2022, declining by 0.57% to close at N426.58 to a dollar as against the N424.17/$1 recorded on Tuesday, 19th July 2022. 

• The opening indicative rate closed at N426.5/$1 on Wednesday, 20th from N426.2/$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 N426.58/$1, while it traded as low as N414/$1 during intra-day trading. 
• A total of $144.03 million in FX value exchanged hands on Wednesday, which is 62.45% lower than the $383.59 million that was traded in the previous trading session. 

Official exchange rate appreciates as Forex supply surges by 301% to $389 million

Tuesday, 19th July 2022: The exchange rate between the naira and the US dollar closed at N424.17/$1 at the official Investors and Exporters (I&E) window. 

Naira appreciated significantly against the US dollar at the official market on Tuesday, with a 1.16% gain to close at N424.17/$1, compared to N429.13/$ recorded as of the close of trading activities in the previous trading session.  

The appreciation of the local currency is following the 301.3% increase in the amount of forex supplied in the official market. A total of $383.59 million in FX value was traded on Tuesday, 19th July 2022, an increase compared to $95.58 million that exchanged hands on Monday. 

On the other hand, the exchange rate at the parallel market fell by 1.69% to close trading activities on Monday at N630/$1 compared to N619.5/$1 recorded in the previous trading session. This is according to information from Bureau De Change operators. 

Also, the exchange rate at the peer-to-peer market depreciated further by 0.78% on Wednesday morning to trade at a minimum of N635.1/$1 compared to N630.2/$1 recorded on Tuesday morning. This is the highest rate recorded at the unofficial market, according to data tracked by Nairalytics. 

Nigeria’s external reserves increased by 0.01% on Monday, 18th July 2022 to stand at $39.45 billion from $39.43 billion recorded as of the previous day. This represents the 27th straight day of improvement for the nation’s foreign reserve. 

The external reserve had been on a downward trend due to the continuous intervention by the Central Bank in the FX market in order to ensure the stability of the local currency. However, elevated crude oil prices have seen the reserve level improve. 

Trading at the official NAFEX window 

The exchange rate at the official market appreciated on Tuesday, 19th July 2022, gaining 1.16% to close at N424.17 to a dollar as against the N429.13/$1 recorded on Monday, 18th July 2022. 

• The opening indicative rate closed at N426.2/$1 on Tuesday, 19th, from N428.26/$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 N424.17/$1, while it traded as low as N414/$1 during intra-day trading. 
• A total of $383.59 million in FX value exchanged hands on Tuesday, which is 301.33% higher than the $63.19 million that was traded in the previous trading session. 

Naira falls to N630/$1 at the black market

Monday, 18th July 2022: The exchange rate between the naira and the US dollar closed at N429.13/$1 at the official Investors and Exporters (I&E) window.

Naira appreciated slightly against the US dollar at the official market on Monday, with a 0.28% appreciation to close at N429.13/$1, compared to N430.33/$ recorded as of the close of trading activities in the previous trading session.

The appreciation of the local currency is following the 51.26% increase in the amount of forex supplied in the official market. A total of $95.58 million in FX was traded on Monday, 18th July 2022, an increase compared to $63.19 million that exchanged hands on Friday, last week.

On the other hand, the exchange rate at the parallel market fell by 1.69% to close trading activities on Monday at N630/$1 compared to N619.5/$1 recorded in the previous trading session. This is according to information from Bureau De Change operators.

Also, the exchange rate at the peer-to-peer market depreciated by 1.69% on Tuesday morning to trade at a minimum of N630.2/$1 compared to N623.1/$1 recorded on Monday morning. This is the highest rate recorded at the unofficial market, according to data tracked by Nairalytics.

Nigeria’s external reserves increased by 0.03% on Friday, 15th July 2022 to stand at $39.44 billion from $39.43 billion recorded as of the previous day. This represents the 26th straight day of improvement for the nation’s foreign reserve.

The external reserve had been on a downward trend due to the continuous intervention by the Central Bank in the FX market in order to ensure the stability of the local currency. However, elevated crude oil prices have seen the reserve level improve.

Trading at the official NAFEX window

• The exchange rate at the official market appreciated on Monday, 18th July 2022, gaining 0.28% to close at N429.13 to a dollar as against the N430.33/$1 recorded on Friday, 15th July 2022.
• The opening indicative rate closed at N428.26/$1 on Monday, 18th July 2022, from N426.63/$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 N429.13/$1, while it traded as low as N414/$1 during intra-day trading.
• A total of $95.58 million in FX value exchanged hands on Monday, which is 51.26% higher than the $63.19 million that was traded in the previous trading session.

Naira falls big to N430/$1 at official window as liquidity remains low

Friday, 15th July 2022: The exchange rate between the naira and the US dollar closed at N430.33/$1 at the official Investors and Exporters (I&E) window.

Naira depreciated massively against the US dollar at the official market on Friday, with a 1.34% decline to close at N430.33/$1, compared to N424.62/$ recorded as of the close of trading activities in the previous trading session. This is the lowest level on record, with the exception of 31st December 2021.

The depreciation of the local currency is following the sustained low forex turnover in the market. A total of $63.19 million in FX was traded on Friday, 15th July 2022, representing a decrease of 28.15% compared to $87.95 million that exchanged hands on Thursday.

Also, the exchange rate at the peer-to-peer market depreciated by 0.14% on Saturday morning to trade at a minimum of N623.1/$1 compared to N622.25/$1 recorded on Friday morning. This is the highest rate recorded at the unofficial market, according to data tracked by Nairalytics.

On the other hand, the exchange rate at the parallel market remained flat on Friday, closing at N618/$, the same as recorded in the previous trading session. This is according to information from Bureau De Change operators.

Nigeria’s external reserves increased by 0.02% on Thursday, 14th July 2022 to stand at $39.43 billion from $39.42 billion recorded as of the previous day. This represents the 25th straight day of improvement for the nation’s foreign reserve.

The external reserve had been on a downward trend due to the continuous intervention by the Central Bank in the FX market in order to ensure the stability of the local currency. However, elevated crude oil prices have seen the reserve level improve.

Trading at the official NAFEX window

• The exchange rate at the official market depreciated on Friday, 15th July 2022, dropping by 1.34% to close at N430.33 to a dollar as against the N424.62/$1 recorded on Thursday, 14th July 2022.
• The opening indicative rate closed at N426.63/$1 on Friday, 15th July 2022, from N424.3/$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 N430.33/$1, while it traded as low as N414/$1 during intra-day trading.
• A total of $63.19 million in FX value exchanged hands on Friday, which is 28.15% lower than the $87.95 million that was traded in the previous trading session.

Exchange rate depreciates at I&E window despite improvement in FX supply

Thursday, 14th July 2022: The exchange rate between the naira and the US dollar closed at N424.62/$1 at the official Investors and Exporters (I&E) window.

Naira depreciated marginally against the US dollar at the official market on Thursday, with a 0.01% decline to close at N424.62/$1, despite a 44.56% increase in forex turnover. Specifically, a total of $87.95 million in FX value exchanged hands in the market on Thursday compared to $60.84 million that was traded in the previous trading session.

Also, the exchange rate at the peer-to-peer market depreciated by 0.29% on Friday morning to trade at a minimum of N622.25/$1 compared to N620.41/$1 recorded on Thursday morning. This is the highest rate recorded at the unofficial market, according to data tracked by Nairalytics.

On the other hand, the exchange rate at the parallel market remained flat on Thursday, closing at N618/$, the same as recorded in the previous trading session. This is according to information from Bureau De Change operators.

Nigeria’s external reserves increased by 0.17% on Wednesday, 13th July 2022 to stand at $39.42 billion from $39.35 billion recorded the previous day. This represents the 24th straight day of improvement for the nation’s foreign reserve.

The external reserve had been on a downward trend due to the continuous intervention by the Central Bank in the FX market in order to ensure the stability of the local currency. However, elevated crude oil prices have seen the reserve level improve.

Trading at the official NAFEX window

• The exchange rate at the official market depreciated slightly on Thursday, 14th July 2022, dropping by 0.01% to close at N424.62 to a dollar as against the N426.58/$1 recorded on Wednesday, 13th July 2022.
• The opening indicative rate closed at N424.3/$1 on Thursday, 14th July 2022, from N424.4/$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 N424.62/$1, while it traded as low as N414/$1 during intra-day trading.
• A total of $87.95 million in FX value exchanged hands on Thursday, which is 44.56% higher than the $60.84 million that was traded in the previous trading session.

Naira falls to N620/$1 at peer-to-peer market as FX scarcity persists

Tuesday, 13th July 2022: The exchange rate between the naira and the US dollar closed at N424.58/$1 at the Investors and Exporters (I&E) window, where forex is traded officially.

Naira appreciated slightly against the US dollar at the official market on Wednesday, with a 0.36% gain to close at N424.58/$1, following a 25.01% increase in forex turnover. Specifically, a total of $60.84 million in FX value exchanged hands in the market on Wednesday compared to $48.67 million that was traded in the previous trading session.

On the other hand, the exchange rate at the parallel market depreciated to N618/$1 on Wednesday, falling by 0.49% compared to N615/$1 recorded on Friday, the previous week. This is according to information from Bureau De Change operators.

Also, the exchange rate at the peer-to-peer market depreciated by 0.72% on Thursday morning to trade at a minimum of N620.41/$1 compared to N616/$1 recorded on Wednesday morning. This is the highest rate recorded at the unofficial market, according to data tracked by Nairalytics.

Nigeria’s external reserves increased by 0.03% on Friday, 8th July 2022 to stand at $39.35 billion from $39.34 billion recorded the previous day. This represents the 23rd straight day of improvement for the nation’s foreign reserve.

The external reserve had been on a downward trend due to the continuous intervention by the Central Bank in the FX market in order to ensure the stability of the local currency. However, elevated crude oil prices have seen the reserve level improve.

Trading at the official NAFEX window

• The exchange rate at the official market appreciated on Wednesday, 13th July 2022, gaining 0.36% to close at N424.58 to a dollar as against the N426.13/$1 recorded on Friday, 8th July 2022.
• The opening indicative rate closed at N424.4/$1 on Wednesday, 13th July 2022, from N423.85/$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 N424.58/$1, while it traded as low as N411.42/$1 during intra-day trading.
• A total of $60.84 million in FX value exchanged hands on Wednesday, which is 25.01% higher than the $46.67 million that was traded in the previous trading session.

Naira falls at I&E window despite massive improvement in dollar supply

Thursday, 7th July 2022: The exchange rate between the naira and the US dollar closed at N428.16/$1 at the Investors and Exporters (I&E) window, where forex is traded officially.

Naira depreciated against the US dollar at the official market on Thursday, with a 0.1% decline to close at N428.16/$1 despite a 172.95% surge in the amount of forex that was traded in the market. Specifically, forex turnover improved to $222.84 million, the highest recorded since 2nd June 2022.

However, the exchange rate at the parallel market remained flat at N616/$1, the same as recorded in the previous trading session. This is according to information from Bureau De Change operators.

Also, the exchange rate at the peer-to-peer market depreciated marginally by 0.03% on Friday morning to trade at a minimum of N618.2/$1 compared to N618/$1 recorded on Thursday morning.

Nigeria’s external reserves increased by 0.17% on Wednesday, 6th July 2022 to stand at $39.34 billion from $39.27 billion recorded the previous day. This represents the 21st straight day of improvement for the nation’s foreign reserve.

The external reserve had been on a downward trend due to the continuous intervention by the Central Bank in the FX market in order to ensure the stability of the local currency. However, elevated crude oil prices have seen the reserve level improve.

Trading at the official NAFEX window

The exchange rate at the official market depreciated on Thursday, 7th July 2022, falling by 0.1% to close at N428.16 to a dollar as against the N427.75/$1 recorded on Wednesday, 6th July 2022.

• The opening indicative rate closed at N426.31/$1 on Thursday, 7th July 2022, from N423.85/$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 N428.16/$1, while it traded as low as N413.5/$1 during intra-day trading.
• A total of $222.84 million in FX value exchanged hands on Thursday, which is 222.84% higher than the $81.64 million that was traded in the previous trading session.

Naira falls to N431/$1 at the official forex market

Wednesday, 6th July 2022: The exchange rate between the naira and the US dollar closed at N427.75/$1 at the Investors and Exporters (I&E) window, reaching a peak of N431/$1.

Naira recorded a 0.52% appreciation against the US dollar on Wednesday to close at N427.75/$1 after hitting a year-to-date high on Tuesday, 5th July 2022 at N430/$1. Similarly, a total of $81.64 million exchange hands in the official market on Wednesday, according to information obtained from FMDQ website.

The exchange rate at the parallel market depreciated on Wednesday, closing at N616/$1 compared to N613/$1 recorded on Tuesday, 5th July 2022. Bureau De Change operators who spoke to Nairametrics attributed the downturn to forex scarcity and increased demand.

Similarly, the exchange rate at the peer-to-peer market depreciated marginally by 0.16% on Thursday morning to trade at a minimum of N618/$1 compared to N617/$1 recorded on Wednesday morning.

Nigeria’s external reserves increased by 0.04% on Tuesday, 5th July 2022 to stand at $39.27 billion from $39.25 billion recorded the previous day. This represents the 20th straight day of improvement for the nation’s foreign reserve.

The external reserve had been on a downward trend due to the continuous intervention by the Central Bank in the FX market in order to ensure the stability of the local currency. However, elevated crude oil prices have seen the reserve level improve.

Trading at the official NAFEX window

• The exchange rate at the official market moderated on Wednesday, appreciating by 0.52% to close at N427.75 to a dollar as against the N430/$1 recorded on Tuesday, 5th July 2022.
• The opening indicative rate closed at N423.85/$1 on Wednesday, 6th July 2022, from N422.71/$1 recorded in the previous trading session.
• Furthermore, an exchange rate of N431/$1 was the highest rate recorded during intra-day trading before it settled at N427.75/$1, while it traded as low as N413/$1 during intra-day trading.
• A total of $81.64million in FX value was traded in the official I&E window on Wednesday.

Naira falls across FX markets as dollar supply dips significantly

Monday, 4th July 2022: The exchange rate between the naira and the US dollar closed at N425.75/$1 at the Investors and Exporters (I&E) window, representing the lowest level recorded year-to-date.

Naira depreciated further against the US dollar on Monday, starting the week with a 0.18% depreciation to close at N425.75/$1 compared to N425/$1 recorded in the previous trading sessions. In the same vein, the total forex supply declined by 39.69% to $47.56 million, the lowest in two seeks.

The exchange rate at the parallel market depreciated marginally on Monday, closing at N613/$1 compared to N612/$1 recorded as of Friday, 1st July 2022. Bureau De Change operators who spoke to Nairametrics attributed the downturn to forex scarcity and increased demand.

Similarly, the exchange rate at the peer-to-peer market depreciated marginally by 0.09% on Tuesday morning to trade at a minimum of N616.49/$1 compared to N615.9/$1 recorded on Monday morning.

Nigeria’s external reserves increased by 0.05% on Friday, 1st July 2022 to stand at $39.17 billion from $39.16 billion recorded the previous day. This represents the 18th straight day of improvement for the nation’s foreign reserve.

The external reserve had been on a downward trend due to the continuous intervention by the Central Bank in the FX market in order to ensure the stability of the local currency. However, elevated crude oil prices have seen the reserve level improve.

Trading at the official NAFEX window

The exchange rate at the official market fell further on Monday, depreciating by 0.18% to close at N425.75 to a dollar as against the N425/$1 recorded on Friday, 1st July 2022.

• The opening indicative rate closed at N422.25/$1 on Monday, 4th July 2022, from N421.6/$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 N425.75/$1, while it traded as low as N413/$1 during intra-day trading.
• A total of $47.56 million in FX value was traded in the official I&E window on Monday, which is 39.69% lower than the $78.86 million that exchanged hands in the previous trading session.

Naira closes week weaker as black market rate hits N615/$

The exchange rate between the naira and the US dollar closed the week weaker at the official Investor and Exporter window, closing at N425/$1 on Friday, 1st July 2022 compared to N420.13/$1 recorded in the previous week.

This is according to Nairalytics exchange tracker culled from the website of FMDQ. Naira depreciated by 1.2% week-on-week against the US dollar. Meanwhile, the total amount of FX traded in the market increased marginally by 6.27% to $627.94 million in the review week compared to $590.91 million that exchanged hands in the previous week.

On the other hand, naira closed the week at N612/$1 at the parallel market from N610/$ recorded at the close of the previous week, hitting a record N615/$1 during the week. Also, the exchange rate closed at N615/$1 at the peer-to-peer market from N612.59/$ recorded last week.

Trading at the official NAFEX window

• The exchange rate at the official market fell further in the review week, depreciating by 1.2% to close at N425 to a dollar as against the N420.13/$1 recorded on Friday, 24th June 2022.
• The opening indicative rate closed at N421.6/$1 on Friday, 1st July 2022, from N419.79/$1 recorded the previous Friday.
• Furthermore, an exchange rate of N444/$1 was the highest rate recorded during the week trading before it settled at N425/$1, while it traded as low as N410/$1 during intra-day trading.
• A total of $627.94 million in FX value was traded in the official I&E window during the week, which is 6.27% higher than the $590.91 million that exchanged hands in the previous week.
• Nigeria’s currency has been faced with immense pressure from decline in export earnings and surging FX demand in the country, leading to tightened forex liquidity. A cursory check shows that the exchange rate has depreciated to its highest level year-to-date at the official market despite constant CBN interventions.
• On the flip side, the local currency has declined by 8.3% year-to-date at the black market, starting the year at N565/$1, now trading at N612/$.

Naira falls further at the official market as forex turnover declines

Thursday, 30th June 2022: The exchange rate between the naira and the US dollar closed at N425.05/$1 at the Investors and Exporters (I&E) window, representing the lowest level recorded year-to-date.

Naira depreciated further against the US dollar on Thursday, falling by 0.04% to close at N425.05/$1 compared to N424.88/$1 recorded in the previous trading sessions. In the same vein, the total forex supply declined by 32.1% to $76.64 million from $112.83 million that exchanged hands in the previous trading session.

The exchange rate at the parallel market remained flat on Thursday to close at N615/$1, the same as recorded in the previous trading session. This is according to information from BDC operators. This is the lowest level that the local currency has fallen, as BDC operators attributed the downturn to forex scarcity and increased demand.

Similarly, the exchange rate at the peer-to-peer market appreciated marginally by 0.19% on Friday morning to trade at N615/$1 compared to N616.15/$1 recorded on Thursday morning.

Nigeria’s external reserves increased by 0.1% on Wednesday, 29th June 2022 to stand at $39.13 billion from $39.09 billion recorded the previous day. This represents the 16th straight day of improvement for the nation’s foreign reserve.

The external reserve had been on a downward trend due to the continuous intervention by the Central Bank in the FX market in order to ensure the stability of the local currency. However, elevated crude oil prices have seen the reserve level improve.

Trading at the official NAFEX window

• The exchange rate at the official market fell further on Thursday, depreciating by 0.04% to close at N425.05 to a dollar as against the N424.88/$1 recorded on Wednesday, 29th June 2022.
• The opening indicative rate closed at N420.96/$1 on Thursday, 30th June 2022, from N421.8/$1 recorded on Wednesday.
• Furthermore, an exchange rate of N444/$1 was the highest rate recorded during intra-day trading before it settled at N425.05/$1, while it traded as low as N413/$1 during intra-day trading.
• A total of $76.64 million in FX value was traded in the official I&E window on Thursday, which is 32.07% lower than the $112.83 million that exchanged hands in the previous trading session.

Official exchange rate (NAFEX) falls to lowest level year-to-date

Wednesday, 29th June 2022: The exchange rate between the naira and the US dollar closed at N424.88/$1 at the Investors and Exporters (I&E) window.

Naira depreciated against the US dollar on Wednesday, falling by 0.8% to close at N424.88/$1 compared to N421.5/$1 recorded in the previous trading sessions. This represents the lowest level reached by the local currency between January to date as FX shortages linger.

A total of $112.83 million in FX value was traded on Wednesday as against the $206.65 million that was traded on Tuesday, 28th June 2022, representing a 45.4% decrease. This is according to information from the website the FMDQ Exchange.

The exchange rate at the parallel market remained flat on Wednesday to close at N615/$1 on Wednesday, the same as recorded in the previous trading session. This is according to information from BDC operators. This is the lowest level that the local currency has fallen, as BDC operators attributed it to forex scarcity and increased demand.

Similarly, the exchange rate at the peer-to-peer market appreciated marginally by 0.19% on Thursday morning to trade at N616.15/$1 compared to N617.29/$1 recorded on Wednesday morning.

Nigeria’s external reserves increased by 0.1% on Tuesday, 28th June 2022 to stand at $39.09 billion from $39.06 billion recorded the previous day. This represents the 15th straight day of improvement for the nation’s foreign reserve.

The external reserve had been on a downward trend due to the continuous intervention by the Central Bank in the FX market in order to ensure the stability of the local currency. However, elevated crude oil prices have seen the reserve level improve.

Trading at the official NAFEX window

• The exchange rate at the official market fell big on Wednesday, depreciating by 0.8% to close at N424.88 to a dollar as against the N421.5/$1 recorded on Tuesday, 28th June 2022.
• The opening indicative rate closed at N421.8/$1 on Wednesday, 29th June 2022, from N420.7/$1 recorded on Tuesday.
• Furthermore, an exchange rate of N444/$1 was the highest rate recorded during intra-day trading before it settled at N424.88/$1, while it traded as low as N410/$1 during intra-day trading.
• A total of $112.83 million in FX value was traded in the official I&E window on Wednesday, which is 45.4% lower than the $206.65 million that exchanged hands in the previous trading session.

Exchange rate appreciates at I&E window as forex supply rises to 3-week high 

Thursday, 23rd June 2022: The exchange rate between the naira and the US dollar closed at N420/$1 at the Investors and Exporters (I&E) window. 

Naira gained against the US dollar on Thursday, reaching its highest level in the week to close at N420.17/$1, representing a 0.08% appreciation compared to N420.5/$1 recorded in the previous trading session. This is according to information from the website the FMDQ Exchange. 

A total of $201.81 million in FX value was traded on Thursday as against the $71.99 million that was traded in the previous day, representing a 180.33% increase. 

The exchange rate at the parallel market depreciated by 0.66% to close at N611/$1 on Thursday morning, from N607/$1 recorded as of the previous trading session. This is according to information from BDC operators. 

Meanwhile, the exchange rate at the peer-to-peer market remained stable, trading at N612.59 to a dollar on Friday morning, representing a 0.04% depreciation compared to N612.85/$1 recorded as of the same time on Thursday. 

Nigeria’s external reserves increased by 0.08% on Wednesday, 22nd June 2022 to stand at $38.85 billion from $38.82 billion recorded the previous day. This represents the 11th straight day of improvement for the nation’s foreign reserve. 

 The external reserve had been on a downward trend due to the continuous intervention by the Central Bank in the FX market in order to ensure the stability of the local currency. However, elevated crude oil prices have seen the reserve level improve. 

Trading at the official NAFEX window 

The exchange rate at the official market recorded a slight gain on Thursday, appreciated by 0.08% to close at N420.17 to a dollar as against the N420.5/$1 recorded on Wednesday, 23rd June 2022. 

• The opening indicative rate closed at N419.79/$1 on Thursday, 23rd June 2022, from N419.46/$1 recorded on Wednesday. 

• Furthermore, an exchange rate of N444/$1 was the highest rate recorded during intra-day trading before it settled at N420.17/$1, while it traded as low as N410/$1 during intra-day trading. 
• A total of $201.81 million in FX value was traded in the official I&E window on Thursday, which is 180.33% higher than the $71.99 million that exchanged hands in the previous trading session. 

Naira falls to N611/$1 at the black market as FX liquidity tightens

The exchange rate between the naira and the US dollar closed at N420.5/$1 at the Investors and Exporters (I&E) window.

Naira closed slightly weaker on Wednesday with a 0.05% depreciation to close at N420.5/$1 compared to N420.28/$1 recorded in the previous trading session. This is according to information from the website the FMDQ Exchange.

A total of $71.99 million in FX value exchanged hands on Wednesday as against the $108.06 million that was traded in the previous day, representing a 33.38% decrease.

The exchange rate at the parallel market depreciated by 0.66% to trade at N611/$1 on Thursday morning, from N607/$1 recorded as of the previous trading session. This is according to information from BDC operators.

Meanwhile, the exchange rate at the peer-to-peer market recorded a slight uptick on Thursday morning, trading at N612.85/$1 compared to N613/$ recorded as of the same time on Wednesday, 22nd June 2022.

Nigeria’s external reserves increased by 0.07% on Tuesday, 21st June 2022 to stand at $38.82 billion from $38.79 billion recorded the previous day. The nation’s external had been on a downward trend due to the continuous intervention by the Central Bank in the FX market in order to ensure the stability of the local currency. However, elevated crude oil prices have seen the reserve level improve.

Trading at the official NAFEX window

• The exchange rate at the official market depreciated marginally by 0.05% on Wednesday to close at N420.5/$1 compared to N420.28/$1 recorded as of close of trade on Tuesday.
• The opening indicative rate closed at N419.46/$1 on Wednesday, 22nd June 2022, from N420.71/$1 recorded on Tuesday.
• Furthermore, an exchange rate of N444/$1 was the highest rate recorded during intra-day trading before it settled at N420.5/$1, while it traded for as low as N412/$1 during intra-day trading.
• A total of $71.99 million in FX value was traded in the official I&E window on Wednesday, which is 33.38% lower than the $108.06 million that exchanged hands in the previous trading session.

Forex supply surges by 135% to $108.1 million at I&E window

Tuesday, 21st June 2022: The exchange rate between the naira and the US dollar closed at N420.28/$1 at the Investors and Exporters (I&E) window.

Naira closed stronger on Tuesday with a 0.25% gain to close at N420.28/$1 compared to N421.33/$1 recorded in the last two trading sessions. This is according to information culled from the website the FMDQ Exchange.

A total of $108.06 million in FX value exchanged hands on Tuesday as against the $46.07 million that was traded in the previous day, representing a surge of 134.6%

The exchange rate at the parallel market remained stable on Tuesday, depreciated slightly by 0.17% to close at N607/$1 from N606/$1 recorded as of the close of trading activities on Monday. This is according to information from BDC operators.

Meanwhile, the exchange rate at the peer-to-peer market depreciated by 0.13% on Wednesday morning, trading at N613/$1 compared to N612.19/$ recorded as of the same time on Tuesday, 21st June 2022.

Nigeria’s external reserves increased by 0.25% on Monday, 20th June 2022 to stand at $38.79 billion from $38.69 billion recorded the previous day. The nation’s external had been on a downward trend due to the continuous intervention by the Central Bank in the FX market in order to ensure the stability of the local currency. However, elevated crude oil prices have seen the reserve level improve.

Trading at the official NAFEX window

• The exchange rate at the official market improved by 0.25% on Tuesday to close at N420.28 to a dollar compared to N421.33/$1 recorded as of close of trade on Monday.
• The opening indicative rate closed at N420.71/$1 on Tuesday, 21st June 2022, from N490.71/$1 recorded on Monday.
• Furthermore, an exchange rate of N444/$1 was the highest rate recorded during intra-day trading before it settled at N420.28/$1, while it sold for as low as N413/$1 during intra-day trading.
• A total of $108.06 million in FX value was traded in the official I&E window on Tuesday, which is 134.6% higher than the $46.07 million that exchanged hands in the previous trading session.

Naira closes flat at official market as FX supply crashes to $46.1 million

Monday, 20th June 2022: The exchange rate between the naira and the US dollar closed at N421.33/$1 at the Investors and Exporters (I&E) window.

Naira remained stable at the official Investors and Exporters window on Monday, closing at the same rate as it did on Friday of the previous week at N421.33/$1. This is according to information culled from the website the FMDQ Exchange.

The amount of FX that was traded in the I&E window crashed significantly to its lowest in over two months at $46.07 million.

The exchange rate at the parallel market remained stable on Monday grew slightly stronger, having closed at N606/$1, from N607/$1 recorded as of the close of trading activities last week on Friday. This is according to information from BDC operators.

Meanwhile, the exchange rate at the peer-to-peer market depreciated by 0.15% on Tuesday morning, trading at N612.19/$1 compared to N611.3/$ recorded as of the same time on Monday, 20th June 2022.

Nigeria’s external reserves appreciated marginally by 0.08% on Friday, 17th June 2022 to stand at $38.69 billion from $38.66 billion recorded the previous day. The nation’s external had been on a downward trend due to the continuous intervention by the Central Bank in the FX market in order to ensure the stability of the local currency. However, elevated crude oil prices have seen the reserve level improve.

Trading at the official NAFEX window

• The exchange rate started the week on a stable note as the naira closed flat at N421.33/$1, the same as recorded in the previous trading session.
• The opening indicative rate closed at N419.71/$1 on Monday, 20th June 2022.
• Furthermore, an exchange rate of N444/$1 was the highest rate recorded during intra-day trading before it settled at N421.33/$1, while it sold for as low as N413/$1 during intra-day trading.
• A total of $46.07 million in FX value was traded in the official I&E window on Monday, which is the lowest recorded since 4th April 2022.

Naira falls at official market despite improved forex liquidity

Thursday, 16th June 2022: The exchange rate between the naira and the US dollar closed at N420.5/$1 at the Investors and Exporters (I&E) window.

Naira grew weaker against the US dollar on Thursday despite improvement in FS supply at the official market. The exchange rate declined by 0.12% to close at N420.5/$1 compared to N420/$1, which it closed on Wednesday. This is according to information culled from the website the FMDQ Exchange.

The amount of FX that was traded in the I&E window increased by 9.41% to $136.35 million from $124.62 million that exchanged hands in the previous trading session.

The exchange rate at the parallel market remained stable on Thursday, having closed at N607/$1, the same as recorded during the previous trading session. This is according to information from BDC operators.

Meanwhile, the exchange rate at the peer-to-peer market appreciated by 0.45% on Friday morning, trading at N607/$1 compared to N609.74/$ recorded as of the same time on Thursday, 16th June 2022.

Nigeria’s external reserves appreciated marginal by 0.04% on Wednesday, 15th June 2022 to stand at $38.63 billion from $38.62 billion recorded the previous day. The nation’s external had been on a downward trend due 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

• The exchange rate fell by 0.12% on Thursday, to close at N420.5/$1 from N420/$1 recorded on Wednesday, 15th June 2022.
• The opening indicative rate closed at N419.82/$1 on Friday, 16th June 2022, representing a 20 kobo depreciation compared to N419.65/$1 recorded on Tuesday.
• Furthermore, an exchange rate of N444/$1 was the highest rate recorded during intra-day trading before it settled at N420.5 $1, while it sold for as low as N413/$1 during intra-day trading.
• A total of $136.35 million in FX value was traded in the official I&E window on Thursday, representing a 9.41% increase compared to $124.62 million traded in the previous trading session.

Naira falls to N420/$1 at I&E window despite moderations at parallel market

Tuesday, 7th June 2022: The exchange rate between the naira and the US dollar closed at N420.75/$1 at the Investors and Exporters (I&E) window.

Naira recorded a 0.12% depreciation on Tuesday to close at N420.75/$1 compared to N420.25/$1 recorded in the previous trading session, representing its lowest level since 16th of May 2022. The fall in the local currency is despite the 129.7% surge in forex turnover to $113.12 million at the I&E window.

Meanwhile, the exchange rate remained stable at the parallel market, closing at N606 to a dollar on Tuesday, the same as recorded in the past two trading sessions. This is according to information from BDC operators in Nigeria.

The exchange rate at the P2P market moderated further on Wednesday, starting the day as low as N601/$1, compared to N602.5/$1 recorded as of the same time on Tuesday. This represents a 0.25% appreciation of the exchange rate.

Meanwhile, Nigeria’s external reserves fell by 0.09% on Monday, 4th June 2022 to stand at $38.42 billion from $38.46 billion recorded the previous day. The nation’s external had been on a downturn since 25th April 2022 largely due 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

The exchange rate depreciated by 0.12% on Tuesday to close at N420.75/$1 from N420.25/$1 recorded on Monday.

• The opening indicative rate closed at N420.1/$1 on Tuesday, 7th June 2022, the same as recorded on Monday.
• Furthermore, an exchange rate of N444/$1 was the highest rate recorded during intra-day trading before it settled at N420.75/$1, while it sold for as low as N413/$1 during intra-day trading.
• A total of $113.12 million in FX value was traded in the official I&E window on Tuesday, representing a 129.73% increase compared to $49.24 million traded in the previous trading session.

Crypto market update

• Despite the recovery posted in the cryptocurrency market yesterday, the market resumed trading activities on Wednesday on a bearish note as the industry capitalization declined by 1.75% to stand at $1.22 trillion.
• The most capitalized crypto asset, bitcoin also recorded a 2.69% decline to trade at $30,287.34, while Ethereum with a decline of 1.37% traded at $1,787.22 as of 5:20 am (WAT).
• Similarly, Solana recorded a 1.18% decline in price to trade at $38.835, Uniswap dipped 1.36% to trade at $5.146, while Luna, on the other hand, gained 1.03% to trade at $0.00006466.

---

Follow us for Breaking News and Market Intelligence.