Dollar to Naira Exchange Rate Tracker 9th December 2022
The exchange rate between the naira and the US dollar at the parallel market appreciated by 0.67% on Friday, 9th December 2022, trading at an average of N745/$1 compared to N750/$1 recorded in the previous trading session.
This is according to information from black market traders who spoke to Nairametrics.
Likewise, the local currency strengthened by 0.13% against the US dollar at the P2P cryptocurrency exchange, trading at a minimum of N752.95/$1 on Friday morning, compared to N753.94/$1 recorded on Thursday, 8th December 2022.
On the other hand, the exchange rate at the official Investors and Exporters window recorded a slight depreciation of 0.04% to close at N446/$1 on Thursday, 8th December 2022 from N445.83/$1 recorded in the previous day. Meanwhile, forex turnover surged to its highest level in almost a month at $213.2 million.
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.
Trading at the official NAFEX window
The exchange rate at the official market closed at N446/$1 on Thursday, 8th December 2022, representing a 0.04% depreciation compared to N445.83/$1 recorded in the previous trading session.
The opening indicative rate closed at N445/$1 on Thursday, 8th December 2022.
Furthermore, an exchange rate of N452/$1 was the highest rate recorded during intra-day trading before it settled at N446/$1, while it traded for as low as N439.98/$1 during intra-day trading.
A sum of $231.2 million in FX value was traded at the Investors and Exporters, an increase of 80.94% from $127.78 million that exchanged hands in the previous session.