Dollar to Naira Exchange Rate Tracker 7th December 2022


Dollar to Naira Exchange Rate Tracker 7th December 2022

The exchange rate between the naira and the US dollar closed at an average of N738/$1 on Wednesday, 7th December 2022 at the black market, depreciating marginally by 0.41% from N735/$1 recorded in the past three trading sessions.

This is according to information from black market traders.


Also, naira recorded a 0.36% depreciation against the US dollar at the P2P cryptocurrency exchange, trading at a minimum of N747/$1 on Wednesday, compared to N737/$1 recorded on Tuesday, 6th December 2022.

Similarly, the exchange rate at the official Investors and Exporters window recorded a slight depreciation of 0.11% to close at N445.8/$1 from N445.33/$1 recorded on Monday. On the other hand, forex turnover surged by 200.18% to $180.29 million on Tuesday from the $60.06 million exchanged hands on Monday.

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Nigeria’s external reserve dipped further on Tuesday, 6th December 2022 to stand at $36.97 billion, representing a 0.08% decline compared to $36.99 billion recorded as of the previous day.

Trading at the official NAFEX window

The exchange rate at the official market closed at N445.8/$1 on Tuesday, 6th December 2022, representing a 0.11% depreciation compared to N445.33/$1 recorded in the previous trading session.

The opening indicative rate closed at N444.2/$1 on Tuesday, 6th December 2022.

Furthermore, an exchange rate of N447/$1 was the highest rate recorded during intra-day trading before it settled at N445.8/$1, while it traded for as low as N440/$1 during intra-day trading.

A sum of $180.29 million in FX value was traded at the Investors and Exporters, a 200.18% increase compared to $60.06 million that exchanged hands in the previous session.


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