Daily Dollar to Naira Exchange Rate Tracker 21st December 2022
The exchange rate at the official Investors and Exporters depreciated by 0.26% to close at N452.67/$1 on Tuesday, 20th December 2022 from N451.5/$1 recorded in the previous trading session.
This represents the lowest level on record at the official window.
Despite the 93.98% increase in the amount of FX that was traded at the official market. Specifically, a total of $134.04 million was traded at the exchange on Tuesday, compared to the $69.18 million that exchanged hands on Monday, 19th December 2022.
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Meanwhile, the exchange between the Naira and the US dollar remained stable at the black market on Wednesday, 21st December 2022, trading at an average of N745/$1, the same as recorded in the previous trading session.
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This is according to information from black market traders. According to the traders, they buy FX between N735/$1 and N740/$1, while they sell at a minimum of N743/$1 and a maximum of N745/$1.
The exchange at the black market has maintained stable in past week, after it moderated to N740/$1 at the beginning of the month from as high as N900/$1 recorded at the stated of November 2022.
Also, the exchange rate between the naira and the US dollar at the P2P cryptocurrency recorded a marginal appreciation from N744.48/$1 recorded on Tuesday morning to trade at a minimum of N744.45/$1 on Wednesday morning.
Nigeria’s external reserve stood at $36.94 billion as of 19th December 2022, a marginal increase from the $36.939 billion recorded as of the previous day.
Trading at the official NAFEX window
The exchange rate at the official market closed at N451.67/$1 on Tuesday, 20th December 2022, 0.26% depreciation from N451.5/$1 recorded on Monday.
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The opening indicative rate closed at N448.8/$1 on Tuesday, 20th December 2022.
Furthermore, an exchange rate of N452/$1 was the highest rate recorded during intra-day trading before it settled at N452.67/$1, while it traded for as low as N440/$1 during intra-day trading.
A sum of $134.04 million in FX value exchange hands at the I&E window on Tuesday, which represents a 93.98% increase compared to $69.1 million that was traded in the previous session.
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