The exchange rate between the naira and the US dollar at the black market appreciated further by 0.13% on Monday morning, 23rd January 2023, trading at an average of N745/$1 compared to N746/$1 recorded last week Friday.
This is according to information from FX black market traders.
On the other hand, the exchange rate at the cryptocurrency P2P exchange depreciated on Monday morning to trade at a minimum of N745/$1, a 0.15% downturn compared to N743.9$1 recorded as of the same time last week Friday.
Meanwhile, the exchange rate at the investors and exporters (I&E) window closed at N461.5/$1 on Friday, 20th January 2023, the same as recorded in the previous trading session.
See Exchange Rate Tonight As Naira Appreciates At The Black Market
Forex turnover dipped by 55.6% on Friday to $96.81 million, compared to the $217.86 million that was transacted in the previous session.
Nigeria’s external reserves stood at $37.201 billion as of 19th January 2023, representing a decrease of 0.01% from the $37.205 billion recorded on of 18th January 2023.
Trading at the official NAFEX window
The exchange rate at the official market closed at N461.5/$1 on Friday, 20th January 2023.
- The opening indicative rate closed at N461/$1 on Friday, 20th January 2023, representing a slight uptick compared to N461.1/$1 recorded in the previous session.
- Furthermore, an exchange rate of N462/$1 was the highest rate recorded during intra-day trading before it settled at N461.5/1, while it traded for as low as N440/$1 during intra-day trading.
- A sum of $96.81 million in FX value exchanged hands at the I&E window on Friday, which is 55.6% lower than the $217.86 million that was traded in the previous session.