Daily Dollar to Naira Exchange Rate Tracker 13th December 2022
The exchange rate between the naira and the US dollar recorded a marginal depreciation at the black market on Tuesday morning, trading at an average of N747/$1 compared to N745/$1 recorded at the beginning of the week.
This is according to information from black market traders.
Similarly, naira recorded a decline of 0.05% against the US dollar at the P2P cryptocurrency exchange, trading at a minimum of N748/$1 on Tuesday morning, compared to N747.65/$1 recorded on Monday 12th December 2022.
On the other hand, the exchange rate at the official Investors and Exporters window appreciated by 0.11% to close at N446/$1 on Monday, 12th December 2022 in contrast to 446.5/$1 recorded in the previous trading session.
However, Forex turnover declined by 51.85% to $78.08 million on Monday, compared to $162.17 million that was traded in the previous session. Nigeria’s external reserve dipped further on Friday, 9th December 2022 to stand at $36.957 billion, from $36.962 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 Monday, 12th December 2022, representing a 0.11% appreciation compared to N446.5/$1 recorded in the previous trading session.
The opening indicative rate closed at N445.2/$1 on Monday, 12th December 2022.
Furthermore, an exchange rate of N450/$1 was the highest rate recorded during intra-day trading before it settled at N446/$1, while it traded for as low as N435.5/$1 during intra-day trading.
A sum of $78.08 million in FX value was traded at the Investors and Exporters, a decline of 51.85% from $162.17 million that exchanged hands in the previous session.