See Exchange Rate Today As Naira Falls At Black Market

The exchange rate between the naira and the US dollar recorded a marginal depreciation at the black market on Tuesday morning, trading at an average of N747/$1 compared to N745/$1 recorded at the beginning of the week.

This is according to information from black market traders.

Similarly, naira recorded a decline of 0.05% against the US dollar at the P2P cryptocurrency exchange, trading at a minimum of N748/$1 on Tuesday morning, compared to N747.65/$1 recorded on Monday 12th December 2022.

On the other hand, the exchange rate at the official Investors and Exporters window appreciated by 0.11% to close at N446/$1 on Monday, 12th December 2022 in contrast to 446.5/$1 recorded in the previous trading session.

See Exchange Rate Today As Naira Falls At Black Market

However, Forex turnover declined by 51.85% to $78.08 million on Monday, compared to $162.17 million that was traded in the previous session. Nigeria’s external reserve dipped further on Friday, 9th December 2022 to stand at $36.957 billion, from $36.962 billion recorded as of the previous day.

Trading at the official NAFEX window

The exchange rate at the official market closed at N446/$1 on Monday, 12th December 2022, representing a 0.11% appreciation compared to N446.5/$1 recorded in the previous trading session.

• The opening indicative rate closed at N445.2/$1 on Monday, 12th December 2022.
• Furthermore, an exchange rate of N450/$1 was the highest rate recorded during intra-day trading before it settled at N446/$1, while it traded for as low as N435.5/$1 during intra-day trading.
• A sum of $78.08 million in FX value was traded at the Investors and Exporters, a decline of 51.85% from $162.17 million that exchanged hands in the previous session.

The exchange rate between the naira and the US dollar at the parallel market traded at an average of N745/$1 on Monday, 12th December 2022, the same as recorded in the previous trading session.

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

Meanwhile, the local currency strengthened by 0.7% against the US dollar at the P2P cryptocurrency exchange, trading at a minimum of N747.65/$1 on Monday morning, compared to N752.95/$1 recorded on Friday, 9th December 2022.

On the other hand, the exchange rate at the official Investors and Exporters window depreciated by 0.11% to close at N446.5/$1 on Friday, 9th December 2022 compared to N446/$1 recorded in the previous trading session.

Forex turnover also declined by 29.86% to $162.17 million on Friday, in contrast to $231.2 million that was traded in the previous session. Nigeria’s external reserve dipped further on Thursday, 8th December 2022 to stand at $36.96 billion, from $36.97 billion recorded as of the previous day.

Trading at the official NAFEX window

The exchange rate at the official market closed at N446.5/$1 on Friday, 9th December 2022, representing a 0.11% depreciation compared to N446/$1 recorded in the previous trading session.

• The opening indicative rate closed at N445.2/$1 on Friday, 9th December 2022.
• Furthermore, an exchange rate of N452/$1 was the highest rate recorded during intra-day trading before it settled at N446.5/$1, while it traded for as low as N439.96/$1 during intra-day trading.
• A sum of $162.17 million in FX value was traded at the Investors and Exporters, a decrease of 29.86% from $231.2 million that exchanged hands in the previous session.

BY IYABO AINA

Publisher News Rain Nigeria