Dollar to Naira Exchange Rate Tracker 2nd December 2022

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Dollar to Naira Exchange Rate Tracker 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.

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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.

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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.

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