Daily Dollar to Naira Exchange Rate Tracker 3rd January 2023
This is our daily tracker of the exchange rates…
The exchange rate between the naira and the US dollar remained flat on Tuesday, 3rd January 2023 trading at an average of N736/$1 at the black market, the same as recorded as of the close of trading activities last week Friday.
This is according to information from black market traders.
On the flip side, the exchange rate at the P2P cryptocurrency Exchange depreciated on Tuesday morning, trading at a minimum of N741.79/$1, a 0.87% depreciation compared to N735.42/$1 recorded on Friday, last week
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Meanwhile, the exchange rate at the official investors and exporters (I&E) window appreciated slightly on Friday, 30th December 2022 to close at N461.5/$1, although it represents 5.7% downturn from for the 2022 year.
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A total of $176.24 million was traded at the exchange on Friday, an increase of 23.95% compared to the $142.19 million that exchanged hands the previous day. Nigeria’s external reserve stood at $37.09 billion as of 29th December 2022, an increase of 0.04% from the $36.08 billion recorded as of the previous day.
Trading at the official NAFEX window
The exchange rate at the official market closed at N461.5/$1 on Friday, 30th December 2022, representing a 0.04% appreciation from N461.67/$1 recorded on Thursday.
The opening indicative rate closed at N451.5/$1 on Friday, 30th December 2022.
Furthermore, an exchange rate of N462/$1 was the highest rate recorded during intra-day trading before it settled at N461.5/$1, while it traded for as low as N425/$1 during intra-day trading.
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A sum of $176.24 million in FX value exchanged hands at the I&E window on Friday, which is 23.95% higher than the $142.19 million that was traded in the previous session.
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