Daily Dollar to Naira Exchange Rates Tracker for 3rd November 2022
The exchange rate between the naira and the US dollar fell at the black market on 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.
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.
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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.
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