Daily Dollar to Naira Exchange Rate Tracker for 1st November 2022

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  Daily Dollar to Naira Exchange Rate Tracker for 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

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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.

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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.

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