Daily Dollar to Naira Exchange Rate Tracker 1st February 2023
The exchange rate between the naira and the US dollar traded for an average of N745/$1 on Wednesday, 1st February 2023, representing a 0.80% appreciation when compared to N751/$1 recorded in the previous trading session.
This is according to information from black market FX traders.
Similarly, the exchange rate at the cryptocurrency P2P exchange appreciated on Wednesday, 1st February 2023 to a minimum of N745.5/$1, from N752/$1 recorded on Tuesday’s trading session.
Meanwhile, the exchange rate at the investors and exporters (I&E) window closed at N461.5/$1 on Tuesday, 31st January 2023, the same rate as recorded in the previous trading session.
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Forex turnover however decreased by 43.49% on Tuesday to $85.04 million, from $150.49 million that exchanged hands on Monday. Nigeria’s external reserves fell for the tenth straight day to stand at $37.01 billion as of 30th January 2023, representing a decline of 0.09% from the $37.04 billion recorded as of 27th 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 Tuesday, 31st January 2023, the same rate was recorded on Monday, 30th January 2023.
The opening indicative rate closed at N461.5/$1 on Tuesday, 31st 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 N446/$1 during intra-day trading.
A sum of $85.04 million in FX value was transacted at the I&E window on Tuesday, which is 43.49% lower than the $150.49 million that was traded in the previous session.
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