Dollar to Naira Exchange rates Tracker Today 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. 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.
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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.
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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.
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