See Exchange Rate Tonight As Naira Depreciates At Black Market

The exchange rate between the naira and the US dollar at the black market weakened on Monday, 13th February 2023, trading at an average of N756/$1, compared to N755/$1 recorded over the weekend.

This is according to information from black market FX operators who spoke to Nairametrics.

Similarly, the naira at the cryptocurrency P2P exchange depreciated marginally by 0.09% against the US dollar on Monday, 13th February 2023, trading at a minimum of N749.48/$1, compared to N748.8/$1 recorded last week Friday.

Also, the exchange rate at the investors and exporters (I&E) window depreciated by 0.09% to close at N461.5/$1 on Friday, 10th February 2023 from N461.1/$1 recorded on Thursday, 9th February 2023.

See Exchange Rate Tonight As Naira Depreciates At Black Market

On the other hand, forex turnover at the official market increased by 47.61% to $59.40 million on Friday, 10th February 2023, compared to the $40.24 million that was transacted in the previous session.

Nigeria’s external reserves stood at $36.82 billion as of Thursday, 9th February 2023, slightly lower than the previous day, representing the fifth consecutive day of decline.

Trading at the official NAFEX window 

The exchange rate at the official market closed at N461.5/$1 on Friday, 10th February 2023, a 0.09% depreciation from N461.1/$1 recorded on Thursday, 9th February 2023. 

• The opening indicative rate closed at N461.5/$1 on Friday, 10th February 2023. 
• Furthermore, an exchange rate of N462.05/$1 was the highest rate recorded during intra-day trading before it settled at N461.5/1, while it traded for as low as N446/$1 during intra-day trading. 
• A sum of $59.40 million in FX value was transacted at the I&E window on Friday, which is 47.61% higher than the $40.24 million that exchanged hands in the previous session.