Daily Dollar to Naira Exchange Rate Tracker 23rd December 2022
The exchange rate between the naira and the dollar at the black market appreciated by 0.4% to trade at N740/$1 on Friday, 23rd December 2022 from N743/$1 recorded in the previous trading session.
This is according to information from black market traders.
A cursory look at the FX tracker showed that the exchange rate hit its strongest level since 8th December 2022 when it converted for N750/$1.
Also, the naira strengthened against the US dollar at the P2P cryptocurrency Exchange with a 0.42% appreciation from N742.1/$1 recorded on Thursday morning to trade at a minimum of N739/$1 on Friday morning.
In the same vein, the exchange at the official importer and exporter window appreciated on Thursday, 22nd December 2022 to close at N456.25/$1 from N456.33/$1 that was recorded in the previous trading session.
Meanwhile, there was a 70.5% decrease in the amount of FX that was traded at the official market. A total of $111.37 million was traded at the exchange on Thursday, compared to the $377.48 million that exchanged hands on Wednesday, 21st December 2022.
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Nigeria’s external reserve stood at $36.947 billion as of 21st December 2022, a slight increase from the $36.945 billion recorded as of the previous day.
Trading at the official NAFEX window
The exchange rate at the official market closed at N456.33/$1 on Thursday, 22nd December 2022, representing a 0.02% appreciation from N456.33/$1 recorded on Wednesday.
The opening indicative rate closed at N452.5/$1 on Thursday, 22nd December 2022.
Furthermore, an exchange rate of N452/$1 was the highest rate recorded during intra-day trading before it settled at N456.25/$1, while it traded for as low as N440/$1 during intra-day trading.
A sum of $111.37 million in FX value exchange hands at the I&E window on Thursday, which represents a 70.5% decrease compared to $377.48 million that was traded in the previous session.