DAILY DOLLAR TO NAIRA EXCHANGE RATE TRACKER 20TH MARCH 2023

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DAILY DOLLAR TO NAIRA EXCHANGE RATE TRACKER 20TH MARCH 2023

The exchange rate between the naira and the US dollar weakened at the black market on Monday, 20th March 2023 to trade at an average of N751/$1, representing a fall of 0.13% from N750/$1 that was recorded in the previous trading session.

This is according to information from black market FX operators.

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On the flip side, the exchange rate between the naira and the US dollar at the cryptocurrency P2P exchange market recorded a marginal improvement of 0.07% trading at an average of N743.29/$1 on Monday morning, 20th March 2023 as against N743.8/$1 it recorded on Friday

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Also, naira appreciated marginally by 0.04% against the US dollar at the official and Exporters window to close at N461.83/$1 on Friday, 17th March 2022, from N462/$1 that was recorded on Thursday.

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However, the sum of $87.81 million was transacted at the official exchange on Friday, a decrease of 10.20% from the $97.78 million that exchanged hands on Thursday. The nation’s external reserves stood at $36.0 billion as of Thursday, 16th March 2023 from

Trading at the official NAFEX window

The exchange rate at the official market closed at N461.83/$1 on Friday, 17th March 2023, a marginal appreciation of 0.04% from N462/$1 recorded on Thursday, 16th March 2023.

The opening indicative rate closed at N461.3/$1 on Friday, 17th March 2023.

■ Furthermore, an exchange rate of N462.24/$1 was the highest rate recorded during intra-day trading before it settled at N461.83/$1, while it traded as low as N460/$1 during intra-day trading.

A sum of $87.81 million in FX value was traded at the I&E window on Thursday, which is 10.20% lower than the $97.78 million that exchanged hands in the previous session.

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