Daily Dollar to Naira Exchange Rate Tracker 20th January 2023

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Daily Dollar to Naira Exchange Rate Tracker 20th January 2023

The exchange rate between the naira and the US dollar at the black market appreciated slightly by 0.27% on Friday, 20th January 2023, trading at an average of N746/$1 compared to N748/$1 recorded on the previous day.

This is according to information from FX black market traders.

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In the same vein, the exchange rate at the cryptocurrency P2P exchange improved on Friday morning to trade at a minimum of N743.9/$1, a 0.35% appreciation compared to N746.48/$1 recorded as of the same time on Thursday.

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On the other hand, the exchange rate at the investors and exporters (I&E) window closed at N461.5/$1 on Thursday, 19th January 2023, recording a slight depreciation compared to N461.25/$1 that it closed at the end of the previous trading session.

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Forex turnover increased by 292.3% on Thursday to $217.86 million, its highest daily volume since 21st December 2022. Meanwhile, Nigeria’s external reserves stood at $37.205 billion as of 18th January 2023, representing a decrease of 0.01% from the $37.208 billion recorded on 17th January 2023.

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Trading at the official NAFEX window

The exchange rate at the official market closed at N461.5/$1 on Thursday, 19th January 2023, a 0.05% depreciation from N461.25/$1 recorded in the previous trading session.

The opening indicative rate closed at N461.1/$1 on Thursday, 19th January 2023.

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 N440/$1 during intra-day trading.

A sum of $217.86 million in FX value exchanged hands at the I&E window on Thursday, which is 292.3%

higher than the $55.54 million that was traded in the previous session.

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