Dollar to Naira Exchange Rate Tracker 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.
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This is according to information from black market traders.
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.
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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.
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