See Exchange Rate Today As Naira Trades Flat At Black Market

The exchange rate between the naira and the US dollar at the black market remained flat on Friday, 13th January 2023, trading at an average of N735/$1.

This is according to information from black market traders.

On the other hand, the exchange rate at the cryptocurrency P2P exchange depreciated by 0.02% on Friday morning to trade at a minimum of N747.18/$1, compared to N747/$1 recorded as of the same time on Thursday.

Meanwhile, the exchange rate at the investors and exporters (I&E) window closed at N461.17/$1 on Thursday, 12th January 2023, a 0.16% appreciation from N461.9/$1 recorded in the previous trading session.

 

See Exchange Rate Today As Naira Trades Flat At Black Market

 

Trading activities at the official market declined by 41.19% on Thursday 12th January 2023. Specifically, a total of $88.95 million was traded on Thursday, against the $151.26 million that exchanged hands in the previous day.

Nigeria’s external reserves however, stood at $37.21 billion as of 11th January 2023, representing a 0.01% increase from the $37.2 billion recorded as 10th December 2022, indicating a sixth successive increase in the nation’s reserve level.

Trading at the official NAFEX window

The exchange rate at the official market closed at N461.17/$1 on Thursday, 12th January 2023, from N461.9/$1 recorded in the previous trading session. 

• The opening indicative rate closed at N461/$1 on Thursday, 12th January 2023.
• Furthermore, an exchange rate of N462/$1 was the highest rate recorded during intra-day trading before it settled at N461.17/1, while it traded for as low as N440/$1 during intra-day trading.

• A sum of $88.95 million in FX value exchanged hands at the I&E window on Thursday, which is 41.19% lower than the $151.26 million that was traded in the previous session.

BY IYABO AINA

Publisher News Rain Nigeria