Daily Dollar to Naira Exchange Rate Tracker 6th February 2023
The exchange rate between the naira and the US dollar improved at the black market on Monday, 6th February 2023, to trade to an average of N744/$1, representing a 0.53% appreciation compared to N748/$1 recorded on Friday, 3rd 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 marginally by 0.10% on Monday, 6th February 2023 to a minimum of N745.77/$1, as against N745/$1 recorded in the previous trading session.
Meanwhile, the exchange rate at the investors and exporters (I&E) window appreciated slightly to N461.5/$1, a gain of 0.11% from N462/$1 recorded on Friday, 3rd February 2023. Forex turnover however increased by 0.07% on Friday to $119.43 million, from $119.35 million that exchanged hands on Thursday.
Nigeria’s external reserves level increased further by 0.03% on Thursday, 2nd February 2023 to stand at $37.02 billion from $37.01 billion recorded the previous day.
Trading at the official NAFEX window
The exchange rate at the official market closed at N461.5/$1 on Friday, 3rd February 2023, a 0.11% appreciation from N462/$1 recorded on Thursday, 2nd February 2023.
The opening indicative rate closed at N461.4/$1 on Friday, 3rd February 2023.
Furthermore, an exchange rate of N462.5/$1 was the highest rate recorded during intra-day trading before it settled at N461.5/1, while it traded for as low as N460/$1 during intra-day trading.
A sum of $119.43 million in FX value was transacted at the I&E window on Friday, which is 0.07% higher than the $119.43 million that was traded in the previous session.