Daily Dollar to Naira Exchange Rate Tracker 2nd March 2023
The exchange rate between the naira and the US dollar at the black market weakened by 1.05% on Thursday, 2nd March 2023 to trade at an average of N768/$1, a downturn from N760/$1 it recorded in the previous trading session.
This is according to information from black market FX operators.
On the other hand, the exchange rate between the naira and the US dollar at the cryptocurrency P2P exchange market recorded an improvement of 0.84% to trade at an average of N739.7/$1 on Thursday morning, 2nd March 2023, when compared to N745.98/$1 recorded on Wednesday.
Also, the naira appreciated against the US dollar at the official Investors and Exporters window to close at N461.35/$1 on Wednesday, 1st March 2023, representing a marginal increase of 0.14% from N462/$1 recorded on Tuesday.
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However, forex turnover increased by 105.03% to $98.60 million at the official exchange on Wednesday, from the $48.09 million that exchanged hands on Tuesday.
Trading at the official NAFEX window
The exchange rate at the official market closed at N461.35/$1 on Wednesday, 1st March 2023, an 0.14% appreciation from N462/$1 it recorded on Tuesday, 28th February 2023.
The opening indicative rate closed at N461.17/$1 on Wednesday, 1st March 2023.
■ Furthermore, an exchange rate of N462.5/$1 was the highest rate recorded during intra-day trading before it settled at N461.35/1, while it traded for as low as N446/$1 during intra-day trading.
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A sum of $98.60 million in FX value was traded at the I&E window on Wednesday, which is 105.03% higher than the $48.09 million that exchanged hands in the previous session.
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