See Exchange Rate Tonight As Naira Improves At Black Market

The exchange rate between the naira and the US dollar appreciated on Friday, 24th February 2023 at the black market to trade at an average of N760/$1.

This represents a 0.65% improvement compared to N765/$1 recorded in the previous trading session.

This is according to information from black market FX operators.

Also, the exchange rate at the official Investors and Exporters window appreciated marginally by 0.06% to close at N461.33/$1 on Thursday, 23rd February 2023 from N461.6/$1 recorded on Wednesday.

Similarly, naira appreciated against the US dollar at the cryptocurrency P2P exchange market, trading at an average of N751.3/$1 on Friday morning, 24th February 2023, representing a 0.37% uptick compared to N754.1/$1 recorded on Thursday.

See Exchange Rate Tonight As Naira Improves At Black Market

Forex turnover increased by 34.56% to $110.27 million at the official exchange on Thursday, from the $81.95 million that exchanged hands on Wednesday.

The nation’s external reserves, stood at $36.72 billion as of Tuesday, 21st February 2023 from $36.73 billion recorded the previous day.

Trading at the official NAFEX window 

The exchange rate at the official market closed at N461.33/$1 on Thursday, 23rd February 2023, a 0.06% appreciation from N461.33/$1 recorded on Wednesday, 22nd February 2023. 

• The opening indicative rate closed at N461.3/$1 on Thursday, 23rd February 2023. 
• Furthermore, an exchange rate of N462/$1 was the highest rate recorded during intra-day trading before it settled at N461.33/1, while it traded for as low as N461.33/$1 during intra-day trading. 

• A sum of $110.27 million in FX value was traded at the I&E window on Thursday which is 34.56% higher than the $81.95 million that exchanged hands in the previous session.