Daily Dollar to Naira Exchange Rate Tracker 29th December 2022

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Daily Dollar to Naira Exchange Rate Tracker 29th December 2022

The exchange rate between the naira and the US dollar strengthened on Thursday morning, 29th December 2022 at the black market, trading at an average of N738/$1 from N740/$1 recorded in the previous trading session.

This is according to information from black market traders.

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In the same vein, the exchange rate at the P2P cryptocurrency Exchange gained on Thursday morning, trading at a minimum of N733.4/$1 compared to N739/$1 recorded yesterday.

Meanwhile, the rate of exchange at the official importer and exporter (I&E) window depreciated on Wednesday, 28th December 2022 to close at N461.33/$1, which is the lowest ever rate at the official market on record.

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A total of $196.06 million was traded at the exchange on Wednesday, a 25.79% increase compared to the $155.86 million that exchanged hands last week Friday.

Nigeria’s external reserve stood at $36.97 billion as of 23rd December 2022, an increase of 0.04% from the $36.95 billion recorded as of the previous day.

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Trading at the official NAFEX window

The exchange rate at the official market closed at N461.33/$1 on Wednesday, 28th December 2022, representing a 1.06% depreciation from N456.5/$1 recorded last week Friday.

The opening indicative rate closed at N452.88/$1 on Wednesday, 28th December 2022.

Furthermore, an exchange rate of N462/$1 was the highest rate recorded during intra-day trading before it settled at N461.33/$1, while it traded for as low as N440/$1 during intra-day trading.

A sum of $196.86 million in FX value exchange hands at the I&E window on Wednesday, which represents a 25.8% increase compared to $155.86 million that was traded in the previous session.

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