Dollar to Naira Exchange Rate Tracker 8th December 2022

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Dollar to Naira Exchange Rate Tracker 8th December 2022

The exchange rate between the naira and the US dollar closed at an average of N750/$1 on Thursday, 8th December 2022 at the black market, depreciating by 1.63% from N738/$1 recorded in the last trading session and the lowest level since the beginning of the month.

This is according to information from black market traders.

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Also, naira recorded a 0.0.93% depreciation against the US dollar at the P2P cryptocurrency exchange, trading at a minimum of N753.94/$1 on Thursday evening, compared to N747/$1 recorded on Wednesday, 7th December 2022.

Similarly, the exchange rate at the official Investors and Exporters window recorded a slight depreciation of 0.01% to close at N445.83/$1 on Wednesday, 7th December 2022 from N445.8/$1 recorded in the previous day.

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Meanwhile, a sum of $127.78 million exchanged hands at the market on Wednesday.

Nigeria’s external reserve dipped further on Wednesday, 7th December 2022 to stand at $36.96 billion, from $36.97 billion recorded as of the previous day.

READ ALSO: Tax implications of new CBN cash withdrawal limits on individuals, MSMEs 

Trading at the official NAFEX window

The exchange rate at the official market closed at N445.83/$1 on Wednesday, 7th December 2022, representing a 0.01% depreciation compared to N445.8/$1 recorded in the previous trading session.

The opening indicative rate closed at N444.25/$1 on Wednesday, 7th December 2022.

Furthermore, an exchange rate of N452/$1 was the highest rate recorded during intra-day trading before it settled at N445.83/$1, while it traded for as low as N426/$1 during intra-day trading.

A sum of $127.78 million in FX value was traded at the Investors and Exporters, a 19.13% decrease compared to $180.29 million that exchanged hands in the previous session.

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