Daily Dollar to Naira Exchange Rate Tracker 10th January 2023
This is our daily tracker of the exchange rates…
The exchange rate between the naira and the US dollar at the black market remained flat at N745/$1 on Tuesday morning, 10th January 2023. This is the same rate recorded in the previous trading day.
This is according to information from black market traders. The exchange rate had depreciated by 1.92% yesterday from N731/$1.
Likewise, the exchange rate at the investors and exporters (I&E) window closed flat at N461.67/$1 on Monday, 9th January 2023. Meanwhile, forex turnover fell by 40.38% to $47.13 million compared to $79.05 million that exchanged hands in the previous trading session.
On the other hand, the exchange rate at the cryptocurrency P2P exchange depreciated by 0.02% on Tuesday morning to trade at a minimum of N745.6/$1 from N745.6/$1 recorded as of the same time on Monday.
Nigeria’s external reserves however, stood at $37.16 billion as of 6th January 2023, representing a 0.03% increase from the $37.11 billion recorded as 4th December 2022, indicating a third successive increase in the nation’s reserve level.
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Trading at the official NAFEX window
The exchange rate at the official market closed at N461.67/$1 on Monday, 9th January 2023, the same rate as recorded on Friday last week.
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The opening indicative rate closed at N459.33/$1 on Monday, 9th January 2023.
Furthermore, an exchange rate of N462/$1 was the highest rate recorded during intra-day trading before it settled at N461.67/1, while it traded for as low as N426/$1 during intra-day trading.
A sum of $47.13 million in FX value exchanged hands at the I&E window on Monday, which is 40.38% lower than the $79.05 million that was traded in the previous session.