Daily Dollar to Naira Exchange Rate Tracker 20th February, 2023

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Daily Dollar to Naira Exchange Rate Tracker 20th February, 2023

Naira depreciated sharply against the US dollar on Monday, 20th February 2023 to trade at an average of N775/$1, representing a 2.51% depreciation compared to N756/$1 recorded in the previous week.

This is according to information from black market FX operators.

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On the other hand, the exchange rate between the naira and the US dollar at the cryptocurrency P2P exchange market appreciated by 0.49% trading at an average of N752.9/$1 on Monday morning, 20th February 2023, from N756.6/$1 recorded last week Friday.

Similarly, the exchange rate between the naira and the US dollar strengthened by 0.16% at the investors and exporters (I&E) window to close at N461.25/$1 on Friday, 17th February 2023 compared to N462/$1 recorded on Thursday.

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READ ALSO: Banks Get Fresh Directive On Operations Over New Naira Crisis

A total of $81.78 million in FX value was transacted at the official exchange on Friday, representing a 17.30% increase against the $69.72 million that exchanged hands in the previous day. The nation’s external reserves likewise, declined further for the fourth consecutive day to $36.78 billion on Thursday from $36.79 billion.

Trading at the official NAFEX window

The exchange rate at the official market closed at N461.25/$1 on Friday, 17th February 2023, a 0.16% appreciation from N462/$1 recorded on Thursday, 16th February 2023.

The opening indicative rate closed at N461.5/$1 on Friday, 17th February 2023.

Furthermore, an exchange rate of N462.09/$1 was the highest rate recorded during intra-day trading before it settled at N461.25/1, while it traded for as low as N446/$1 during intra-day trading.

A sum of $81.78 million in FX value was traded at the I&E window on Friday which is 17.30% higher than the $69.72 million that exchanged hands in the previous session.

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