Daily Dollar to Naira Exchange Rate Tracker 2nd February 2023
The exchange rate between the naira and the US dollar traded for an average of N745/$1 on Thursday, 2nd February 2023, the same rate as recorded on Wednesday, 1st February 2023.
This is according to information from black market FX traders.
On the other hand, the exchange rate at the cryptocurrency P2P exchange depreciated on Thursday, 2nd February 2023 to a minimum of N746.22/$1, from N755.5/$1 recorded in the previous trading session.
READ ALSO: Elon Musk’s Starlink Slashes Hardware, Subscription Prices for Nigerians
Also, the exchange rate at the investors and exporters (I&E) window maintained the same rate for the third consecutive trading session on Wednesday, closing at N461.5 to a dollar.
Learn More
Forex turnover however increased by 23.91% on Wednesday to $105.37 million, from $85.04 million that exchanged hands on Tuesday. Nigeria’s external reserves fell for the eleventh straight day to stand at $36.99 billion as of 31st January 2023, representing a decline of 0.03% from the $37.01 billion recorded as of 30th January 2023.
Trading at the official NAFEX window
The exchange rate at the official market closed at N461.5/$1 on Wednesday, 1st February 2023, same rate recorded on Tuesday, 31st January 2023.
The opening indicative rate closed at N461.5/$1 on Wednesday, 1st February 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 $105.37 million in FX value was transacted at the I&E window on Wednesday, which is 43.49% higher than the $85.04 million that was traded in the previous session.