Exchange rates between Naira and Dollar on 11th October 2022

The exchange rate between the naira and the US dollar traded at an average of N730/$1 at the black market, on Tuesday, 11th October 2022, representing a 0.14% appreciation from N731/$1 recorded on Monday. 

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

The naira at the cryptocurrency peer-to-peer FX market depreciated marginally by 0.12% to trade at a minimum of N732.8/$1 on Tuesday morning, against N731.94/$1 traded at the same time on Monday, 10th October 2022. 

In the same vein, the exchange rate between the naira and the US dollar at the I&E official window depreciated to its lowest level, falling by 0.58% to close at N439.17/$1 on Friday, 7th October 2022, compared to N436.63/$1 recorded on Thursday. 

Meanwhile, a total of $99.7 million in forex was traded on Friday, 7th October 2022, recording a slight drop of 1.03% as against $100.74 million that exchanged hands in the previous session. There was no trading activity at the official market on Monday, due to the public holiday declared by the federal government in commemoration of Id el Maulud celebration. 

Nigeria’s external reserve stood at $38.1 billion as of 6th October 2022, a slight decline of 0.03% when compared to $38.11 billion recorded as of the previous day. The nation’s foreign reserve has been on a downward trend due to the continuous intervention by the CBN in the official market to maintain the stability of the local currency. 

Trading at the official NAFEX window 

The exchange rate at the official market closed at N439.17/$1 on Friday, 7th October 2022, from N436.63/$1 recorded in the previous session. 

• The opening indicative rate closed at N437/$1 on Friday, 7th October 2022, same as recorded on Thursday. 

• Furthermore, an exchange rate of N450.07/$1 was the highest rate recorded during intra-day trading before it settled at N439.17/$1, while it traded as low as N422/$1 during intra-day trading. 
• A total of $99.7 million in FX value was traded in the Investors and Exporters window on Friday, which is 1.03% lower than the $100.74 million that exchanged hands in the last trading session. 

 

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Exchange rates between Naira and Dollar on 10th October 2022

The exchange rate between the naira and the US dollar depreciated slightly to N731/$1 at the black market, on Monday, 10th October 2022, representing a 0.14% drop from N730/$1 recorded last week Friday. 

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

The naira at the cryptocurrency peer-to-peer FX market depreciated marginally by 0.29% to trade at a minimum of N731.94/$1 on Monday morning, against N729.8/$1 traded at the same time on Friday, 7th October 2022. 

In the same vein, the exchange rate between the naira and the US dollar at the I&E official window depreciated to its lowest level, falling by 0.58% to close at N439.17/$1 on Friday, 7th October 2022, compared to N436.63/$1 recorded on Thursday. 

Meanwhile, a total of $99.7 million in forex was traded on Friday, 7th October 2022, recording a slight drop of 1.03% as against $100.74 million that exchanged hands in the previous session. 

Nigeria’s external reserve stood at $38.1 billion as of 6th October 2022, a slight decline of 0.03% when compared to $38.11 billion recorded as of the previous day. The nation’s foreign reserve has been on a downward trend due to the continuous intervention by the CBN in the official market to maintain the stability of the local currency. 

Trading at the official NAFEX window 

The exchange rate at the official market closed at N439.17/$1 on Friday, 7th October 2022, from N436.63/$1 recorded in the previous session. 

• The opening indicative rate closed at N437/$1 on Friday, 7th October 2022, the same as recorded on Thursday.
• Furthermore, an exchange rate of N450.07/$1 was the highest rate recorded during intra-day trading before it settled at N439.17/$1, while it traded as low as N422/$1 during intra-day trading. 
• A total of $99.7 million in FX value was traded in the Investors and Exporters window on Friday, which is 1.03% lower than the $100.74 million that exchanged hands in the last trading session. 

 

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Exchange rates between Naira and Dollar on 7th October 2022  

The exchange rate between the naira and the US dollar depreciated marginally to N730/$1 at the black market, on Friday, 7th October 2022, representing a decline of 0.27% from N728/$1 recorded in the previous trading session.

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

On the other hand, the naira at the cryptocurrency peer-to-peer FX market appreciated slightly by 0.02% to trade at a minimum of N729.8/$1 on Friday morning, against N729.96/$1 traded at the same time on Thursday, 6th October 2022.

Also, the exchange rate between the naira and the US dollar at the I&E official window appreciated slightly by 0.2% to close at N436.63/$1 on Thursday, 6th October 2022, from N437.5/$1 recorded on Wednesday.

A sum of $100.74 million exchanged hands on Thursday, representing an increase of 43.06% from $70.42 million that was traded in the previous session.

Nigeria’s external reserve stood at $38.11 billion as of 5th October 2022, representing a slight decline of 0.08% when compared to $38.14 billion recorded as of the previous day. The nation’s foreign reserve has been on a downward trend due to the continuous intervention by the CBN in the official market to maintain the stability of the local currency.

Trading at the official NAFEX window

The exchange rate at the official market closed at N436.63/$1 on Thursday, 6th October 2022, from N437.5/$1 recorded in the previous session.

• The opening indicative rate closed at N437/$1 on Thursday, 6th October 2022, the same as recorded on Wednesday.

• Furthermore, an exchange rate of N442/$1 was the highest rate recorded during intra-day trading before it settled at N436.63/$1, while it traded as low as N434.61/$1 during intra-day trading.
• A total of $100.74 million in FX value was traded in the Investors and Exporters window on Thursday, which is 43.06% higher than the $70.42 million that exchanged hands in the last trading session.

 

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Exchange rates between Naira and Dollar on 6th October 2022  

The exchange rate between the naira and the US dollar moderated to N728/$1 at the black market, on Thursday, 6th October 2022, representing a slight appreciation of 0.27% from the N730/$1 recorded in the previous trading session. 

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

Meanwhile, the naira at the cryptocurrency peer-to-peer FX market traded at a minimum of N729.96/$1 on Thursday morning, representing a slight gain of 0.05% from N730.3/$1 traded at the same time on Wednesday, 5th October 2022. 

On the other hand, the exchange rate at the official market depreciated slightly to close at N437.5/$1 on Wednesday, 5th October 2022, a slight depreciation of 0.06% as against N437.25/$1 recorded on Tuesday, and the highest rate on record. 

A sum of $70.42 million was traded on Wednesday, 5th October 2022, recording a drop of 34.94% from $108.24 million that exchanged hands in the previous trading session. 

Nigeria’s external reserve stood at $38.14 billion as of 4th October 2022, representing a depreciation of 0.3% when compared to $38.25 billion recorded as of the previous day. The nation’s foreign reserve has been on a downward trend due to the continuous intervention by the CBN in the official market to maintain the stability of the local currency. 

Trading at the official NAFEX window 

The exchange rate at the official market closed at N437.5/$1 on Wednesday, 5th October 2022, from N437.25/$1 recorded in the previous session. 

• The opening indicative rate closed at N437/$1 on Wednesday, 5th October 2022, a downturn from N437.5/$1 recorded on Tuesday. 

• Furthermore, an exchange rate of N460/$1 was the highest rate recorded during intra-day trading before it settled at N437.5/$1, while it traded as low as N425/$1 during intra-day trading. 
• A total of $70.42 million in FX value was traded in the Investors and Exporters window on Tuesday, which is 34.94% lower than the $108.24 million that exchanged hands in the last trading session. 

 

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Exchange rates between Naira and Dollar on 5th October 2022 

The exchange rate between the naira and the US dollar moderated to N730/$1 on the black market, on Wednesday, 5th October 2022, representing a 1.35% appreciation from the N740/$1 recorded in the previous trading session. 

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

On the other hand, naira in the cryptocurrency peer-to-peer FX market, traded at a minimum of N730.3/$1 on Wednesday morning, falling by 1.94% from N716.4/$1 traded at the same time on Tuesday, 4th October 2022. 

Also, the exchange rate between the naira and US Dollar at the official market depreciated slightly to close at N437.25/$1 on Tuesday, 4th October 2022, representing a 0.05% fall compared to N437.03/$1 recorded on Friday last week. 

A sum of $108.24 million was traded on Tuesday, 4th September 2022, an improvement from the $45.89 million that exchanged hands in the previous trading session. 

Nigeria’s external reserve stood at $38.25 billion as of 30th September 2022, representing an 0.08% decrease from $38.28 billion recorded as of the previous day. The nation’s foreign reserve has been on a downward trend due to the continuous intervention by the CBN in the official market to maintain the stability of the local currency. 

Trading at the official NAFEX window 

The exchange rate at the official market closed at N437.25/$1 on Tuesday, 4th October 2022, from N437.03/$1 recorded in the previous session. 

• The opening indicative rate closed at N437.5/$1 on Tuesday, 4th October 2022, a downturn from N437/$1 record last week Friday. 
• Furthermore, an exchange rate of N441.98/$1 was the highest rate recorded during intra-day trading before it settled at N437.25/$1, while it traded as low as N435/$1 during intra-day trading. 
• A total of $108.24 million in FX value was traded in the Investors and Exporters window on Tuesday, which is 135.87% higher than the $45.89 million that exchanged hands in the last trading session. 

 

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Exchange rates between Naira and Dollar on 4th October 2022 

The exchange rate between the naira and the US dollar fell further to N740/$1 on the black market, representing a depreciation of 0.68% on Tuesday morning, 4th October 2022, compared to N735/$1 recorded on Friday, last week.  

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

Meanwhile, the exchange rate between the naira and US Dollar at the official market maintained its position as it closed at N437.03/$1 on Friday, 30th September 2022, the same as recorded in the previous session.  

A sum of $45.89 million was traded on Friday, 30th September 2022, a massive decline when compared to $223.3 million that was traded in the previous session.  

On the other hand, naira in the cryptocurrency peer-to-peer FX market, traded at a minimum of N716.4/$1 on Tuesday morning, recording a significant 2.77% improvement in contrast to N736.8/$1 traded at the same time on Friday, 30th September 2022. 

Nigeria’s external reserve stood at $38.28 billion as of 29th September 2022, representing an 0.09% decrease from $38.3 billion recorded as of the previous day. The nation’s foreign reserve has been on a downward trend due to the continuous intervention by the CBN in the official market to maintain the stability of the local currency. 

Trading at the official NAFEX window 

The exchange rate at the official market closed at N437.03/$1 on Friday, 30th September 2022, the same as  N437.03/$1 recorded in the previous trading session. 

• The opening indicative rate closed at N437/$1 on Friday, 30th September 2022, the same as recorded on Thursday.
• Furthermore, an exchange rate of N441/$1 was the highest rate recorded during intra-day trading before it settled at N437.03/$1, while it traded as low as N435/$1 during intra-day trading. 
• A total of $45.89 million in FX value was traded in the Investors and Exporters window on Thursday, which is 79.45% lower than the $223.3 million that exchanged hands on Wednesday. 

 

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Exchange rate between naira and dollar falls to N735/$1 at the black market on 30th September 2022 

The exchange rate between the naira and the US dollar fell further to a record low of N735/$1, recording a dip of 0.68% on Friday morning, 30th September 2022 on the black market, compared to N730/$1 recorded on Thursday.  

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

Meanwhile, the exchange rate at the Investors and Exporters window fell by 0.15% to close at N437.03/$1 on Thursday, 29th September 2022, when compared to N436.37/$1 recorded in the previous session. This is despite a surge in the amount of traded FX in the window. 

Total forex turnover stood at $223.3 million, representing an 86.9% increase from $119.49 million that exchanged hands in the previous trading session. 

The local currency, on the other hand, at the cryptocurrency peer-to-peer FX market, traded at a minimum of N736.8/$1 on Friday morning, recording a slight depreciation of 0.25% as against N735/$1 traded at the same time on Thursday, 29th September 2022. 

Nigeria’s external reserve stood at $38.32 billion as of 28th September 2022, a decline of 0.1% from $38.36 billion recorded the previous day. The nation’s foreign reserve has been on a downward trend due to the continuous intervention by the CBN in the official market to maintain the stability of the local currency. 

Trading at the official NAFEX window 

The exchange rate at the official market closed at N437.03/$1 on Thursday, 29th September 2022, a drop of 0.15% from N436.37/$1 recorded on Wednesday, 28th September 2022. 

• The opening indicative rate closed at N437/$1 on Thursday, 29th September 2022, as against N436.79/$1 recorded in the previous session. 
• Furthermore, an exchange rate of N455/$1 was the highest rate recorded during intra-day trading before it settled at N437.03/$1, while it traded as low as N425/$1 during intra-day trading. 
• A total of $223.3 million in FX value was traded in the Investors and Exporters window on Thursday, which is 86.88% higher than the $119.49 million that exchanged hands on Wednesday. 

 

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Exchange rate between naira and dollar falls to N730/$1 at the black market on 29th September 2022 

The exchange rate between the naira and the US dollar continued its depreciation as it fell by 0.69% on Thursday morning, 29th September 2022, to trade at N730/$1 at the parallel market, compared to N725/$1 recorded on Wednesday.  

This is according to information obtained from black market traders. 

Likewise, the exchange rate at the official Investors and Exporters window recorded a slight depreciation of 0.01% to close at N436.37/$1  on Wednesday, 28th September 2022, from N436.33/$1 recorded in the previous session. 

Meanwhile, a total of $119.49 million exchanged hands at the official market on Wednesday, 28th September 2022, a 20.17% increase from $99.43 million that was traded on Tuesday. 

he local currency at the cryptocurrency peer-to-peer FX market, traded at a minimum of N735/$1 on Thursday morning, a slight depreciation of 0.22% when compared to N733.4/$1 that it traded at the same time on Wednesday, 28th September, 2022. 

Nigeria’s external reserve stood at $38.36 billion as of 27th September 2022, a decline of 0.07% from $38.39 billion recorded as of the previous day. The nation’s foreign reserve has been on a downward trend due to the continuous intervention by the CBN in the official market to maintain the stability of the local currency. 

Trading at the official NAFEX window 

The exchange rate at the official market closed at N436.37/$1 on Wednesday, 28th September 2022, a slight depreciation of 0.01% as against N436.33/$1 recorded on Tuesday, 27th September 2022. 

• The opening indicative rate closed at N436.79/$1 on Wednesday, 28th September 2022, as against N434.93/$ recorded in the previous session. 
• Furthermore, an exchange rate of N442/$1 was the highest rate recorded during intra-day trading before it settled at N436.37/$1, while it traded as low as N417/$1 during intra-day trading. 
• A total of $119.49 million in FX value was traded in the Investors and Exporters window on Wednesday, which is 20.17% higher than the $99.43 million that exchanged hands on Tuesday. 

 

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Exchange rate between naira and dollar falls to N725/$1 at the black market on 28th September 2022 

The exchange rate between the naira and the US dollar continued its depreciation as it recorded a fall of 0.42% on Wednesday morning, 28th September 2022, to trade at N725/$1 at the parallel market, compared to N722/$1 traded on Tuesday, the previous trading session.  

This is according to information obtained from black market traders. 

The naira fell slightly by 0.08% against the US dollar to close at N436.33/$1 at the official Investors and Exporters window on Tuesday, 27th September 2022, compared to N436/$1 recorded in the previous session. Meanwhile, a total of $99.43 million was traded on Tuesday, which is 27.31% higher than the $78.1 million that exchanged hands on Monday. 

On the other hand, the local currency fell marginally by 1.44% in the cryptocurrency peer-to-peer FX market, to trade at a minimum of N733.4/$1 on Wednesday morning, as against N723/$1 that it traded at the same time on Tuesday, 27th September 2022. 

Nigeria’s external reserve stood at $38.39 billion as of 26th September 2022, a dip of 0.2% from $38.46 billion recorded the previous day. The nation’s foreign reserve has been on a downward trend due to the continuous intervention by the CBN in the official market to maintain the stability of the local currency. 

Trading at the official NAFEX window 

The exchange rate at the official market closed at N436.33/$1 on Tuesday, 27th September 2022, a slight depreciation of 0.08% as against N436/$1 recorded on Monday, 26th September 2022. 

• The opening indicative rate closed at N434.93/$1 on Tuesday, 27th September 2022, as against N435.67/$ recorded in the previous session. 
• Furthermore, an exchange rate of N441/$1 was the highest rate recorded during intra-day trading before it settled at N436.33/$1, while it traded as low as N435/$1 during intra-day trading. 
• A total of $99.43 million in FX value was traded in the Investors and Exporters window on Tuesday, which is 27.31% higher than the $78.1 million that exchanged hands on Monday. 

 

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Exchange rate between naira and dollar falls to N722/$1 at the black market on 27th September 2022 

The exchange rate between the naira and the US dollar recorded a massive depreciation on Tuesday morning, 27th September 2022, to trade at N722/$1 at the parallel market, representing a depreciation of 1.26% from N713/$1 traded on Monday, the previous trading session. This is according to information obtained from black market traders. 

On the other hand, the exchange rate between the naira and the US dollar closed at N436/$1 at the official Investors and Exporters window on Monday, 26th September 2022, a slight appreciation of 0.08% from N436.33/$1 recorded in the previous session. Despite the uptrend in the exchange rate, forex turnover dipped to $78.1 million on Monday, a 26.4% decline from $106.11 million that exchanged hands last week’s Friday. 

Meanwhile, the local currency recorded an appreciation of 0.84% at the cryptocurrency peer-to-peer FX market, to trade at a minimum of N723/$1 on Tuesday morning, from N729.1/$1 that it traded at the same time on Monday, 26th September 2022. 

Nigeria’s external reserve stood at $38.46 billion as of 23rd September 2022, a slight decline of 0.06% from $38.49 billion recorded the previous day. The nation’s foreign reserve has been on a downward trend due to the continuous intervention by the CBN in the official market to maintain the stability of the local currency. 

Trading at the official NAFEX window 

The exchange rate at the official market closed at N436/$1 on Monday, 26th September 2022, a slight appreciation of 0.08% appreciation as against N436.33/$1 recorded on Friday, 23rd September 2022. 

• The opening indicative rate closed at N435.67/$1 on Monday, 26th September 2022, as against N434.83/$ recorded in the previous session. 
• Furthermore, an exchange rate of N441/$1 was the highest rate recorded during intra-day trading before it settled at N436/$1, while it traded as low as N423/$1 during intra-day trading. 
• A total of $78.1 million in FX value was traded in the Investors and Exporters window on Monday, which is 26.4% lower than the $106.11 million that exchanged hands on Friday. 

 

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Exchange rate between naira and dollar remains stable at N713/$1 at the black market on 26th September 2022 

The exchange rate between the naira and the US dollar at the parallel market traded at N713/$1 on Monday morning, 26th September 2022, a 0.14% depreciation from N712/$1 recorded on Friday, last week. This is according to information obtained from black market traders. 

Meanwhile, the exchange rate at the official Investors and Exporters window appreciated slightly by 0.04% to close at N436.33/$1 on Friday, 23rd September 2022, as against N436.5/$1 recorded in the previous session. A total of $106.11 million was traded at the window on Friday, representing a 4.3% marginal increase when compared to $101.74 million that exchanged hands in the previous session. 

On the other hand, the local currency depreciated further to a new record high at the cryptocurrency peer-to-peer FX market, to trade at a minimum of N729.1/$1 on Monday morning, a downturn of 1.14% from N720.9/$1 that it traded at the same time on Friday, last week. 

Meanwhile, Nigeria’s external reserve stood at $38.49 billion as of 22nd September 2022, a slight decline of 0.07% from $38.51 billion recorded as of the previous day. The nation’s foreign reserve has been on a downward trend due to the continuous intervention by the CBN in the official market to maintain the stability of the local currency. 

Trading at the official NAFEX window 

The exchange rate at the official market closed at N436.33/$1 on Friday, 23rd September 2022, which is a 0.04% appreciation from N436.5/$1 recorded on Thursday, 22nd September 2022. 

• The opening indicative rate closed at N434.83/$1 on Friday, 23rd September 2022, as against N435.08/$ recorded in the previous session. 
• Furthermore, an exchange rate of N438/$1 was the highest rate recorded during intra-day trading before it settled at N436.33/$1, while it traded as low as N425/$1 during intra-day trading. 
• A total of $106.11 million in FX value was traded in the Investors and Exporters window on Friday, which is 4.3% higher than the $101.74 million that exchanged hands on Thursday. 

 

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Exchange rate between naira and dollar remains stable at N712/$1 at the black market on 23rd September 2022 

The exchange rate between the naira and the US dollar at the parallel market traded at N712/$1 on Friday morning, 23rd September 2022 same as recorded in the previous trading session. This is according to information obtained from black market traders. 

Similarly, the exchange rate remained stable at the official Investors and Exporters window, closing at N436.5/$1 on Thursday, 22nd September 2022, same as recorded in the previous session. Meanwhile, a total of $101.74 million was traded at the window, a decline of 24.06% when compared to $133.97 million that exchanged hands in the previous session. 

On the other hand, the local currency depreciated further to a new record high at the cryptocurrency peer-to-peer FX market, to trade at a minimum of N720.9/$1 on Friday morning, a decline of 0.31% from N718.69/$1 that it traded at the same time on Thursday. 

Nigeria’s external reserve stood at $38.51 billion as of 21st September 2022, a slight decline of 0.07% from $38.54 billion recorded as of the previous day. The nation’s foreign reserve has been on a downward trend due to the constant intervention by the CBN in the official market to maintain the stability of the local currency. 

Trading at the official NAFEX window 

The exchange rate at the official market closed at N436.5/$1 on Thursday, 22nd September 2022, which is the same as recorded on Wednesday, 21st September 2022. 

• The opening indicative rate closed at N435.08/$1 on Thursday, 22nd September 2022, as against N434.75/$ recorded in the previous session. 
• Furthermore, an exchange rate of N437/$1 was the highest rate recorded during intra-day trading before it settled at N436.5/$1, while it traded as low as N425/$1 during intra-day trading. 
• A total of $101.74 million in FX value was traded in the Investors and Exporters window on Thursday, which is 24.1% lower than the $133.97 million that exchanged hands on Wednesday. 

 

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Exchange rate between naira and dollar trades to N712/$1 at the black market on 22nd September 2022 

The exchange rate between the naira and the US dollar at the parallel market on at N712/$1 on Thursday morning, 22nd September 2022 compared to N712.5/$1 recorded as of the close of trade on Wednesday. This is according to information obtained from black market traders. 

On the other hand, the local currency depreciated further at the cryptocurrency peer-to-peer FX market, trading at a minimum of N718.6961 on Thursday morning, a 0.29% decline from N716.59/$1 that it traded at the same time on Wednesday. 

Also, the naira dropped marginally against the US dollar on Wednesday to close at N436.5/$1, from N436.25/$1 that it closed in the previous trading session. Meanwhile, a total of $133.97 million was traded at the window, a decrease of 5.33% when compared to $141.5 million that exchanged hands in the previous session. 

Nigeria’s external reserve stood at $38.54 billion as of 20th September 2022, a slight decline of 0.1% from $38.57 billion recorded as of the previous day. The nation’s foreign reserve has been on a downward trend due to the constant intervention by the CBN in the official market to maintain the stability of the local currency. 

Trading at the official NAFEX window 

The exchange rate at the official market closed at N436.5/$1 on Wednesday, 21st September 2022, from N436.25/$1 recorded on Tuesday, the previous trading session. 

• The opening indicative rate closed at N434.75/$1 on Wednesday, 21st September 2022, as against N435.07 recorded in the previous session. 
• Furthermore, an exchange rate of N438/$1 was the highest rate recorded during intra-day trading before it settled at N436.5/$1, while it traded as low as N425/$1 during intra-day trading. 
• A total of $133.97 million in FX value was traded in the Investors and Exporters window on Wednesday, which is 5.33% lower than $141.51 million that exchanged hands on Tuesday. 

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Exchange rate between naira and dollar falls to N713/$1 at the black market on 21st September 2022

The exchange rate between the naira and the US dollar at the parallel market on Wednesday, 21st September 2022 fell to N712.5/$1, representing a 1.1% depreciation compared to N705/$1 recorded as of the close of trade Tuesday. This is according to information for black market traders.

Similarly, the local currency depreciated at the cryptocurrency peer-to-peer FX market, trading at a minimum of N716.59/$1 on Wednesday morning, a 0.3% decline from N714.4/$1 that it traded at the same time on Tuesday.

Meanwhile, the naira gained marginally against the US dollar on Tuesday to close at N436.25/$1, from N436.5/$1 that it closed in the previous trading session. Meanwhile, a total of $141.51 million was traded at the window, an increase of 244.98% when compared to $41.02 million recorded on Monday.

Nigeria’s external reserve stood at $38.57 billion as of 19th September 2022, a slight decline of 0.20% from $38.65 billion recorded as of the previous day. The nation’s foreign reserve has been on a downward trend due to the constant intervention by the CBN in the official market to maintain the stability of the local currency.

Trading at the official NAFEX window

The exchange rate at the official market closed at N436.25/$1 on Tuesday, 20th September 2022, from N436.5/$1 recorded on Monday, the previous trading session.

• The opening indicative rate closed at N435.07/$1 on Tuesday, 20th September 2022, as against N434.38 recorded in the previous session.
• Furthermore, an exchange rate of N437/$1 was the highest rate recorded during intra-day trading before it settled at N436.25/$1, while it traded as low as N425/$1 during intra-day trading.
• A total of $141.51 million in FX value was traded in the Investors and Exporters window on Tuesday, representing a 244.98% uptick from $41.02 million that exchanged hands on Monday.

 

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Exchange rate between naira and dollar appreciates to N705/$1 at the black market on 20th September 2022

The exchange rate between the naira and the US dollar at the parallel market on Tuesday, 20th September 2022 appreciated to N705/$1, representing a 0.42 uptick compared to N708/$1 recorded as of the close of trade Monday. This is according to information for black market traders.

On the other hand, the local currency depreciated at the cryptocurrency peer-to-peer FX market, trading at a minimum of N714.4/$1 on Tuesday morning, a 0.102% decline from N713.67/$1 that it traded at the same time on Monday.

Likewise, the naira depreciated slightly against the US dollar to close at N436.5/$1 on Monday, 19th September 2022 from N436.25/$1 that it closed in the previous trading session. Meanwhile, a total of $41.02 million was traded at the window, a depreciation of 11.15% when compared to $46.17 million recorded on Friday.

Nigeria’s external reserve stood at $38.65 billion as of 16th September 2022, a slight decline of 0.11% from $38.69 billion recorded as of the previous day. The nation’s foreign reserve has been on a downward trend due to the constant intervention by the CBN in the official market to maintain the stability of the local currency.

Trading at the official NAFEX window

The exchange rate at the official market closed at N436.5/$1 on Monday, 19th September 2022, from N436.25/$1 recorded on Friday, the previous trading session.

• The opening indicative rate closed at N434.38/$1 on Monday, 19th September 2022, as against N434.67 recorded in the previous session.
• Furthermore, an exchange rate of N437.1/$1 was the highest rate recorded during intra-day trading before it settled at N436.5/$1, while it traded as low as N434/$1 during intra-day trading.
• A total of $41.02 million in FX value was traded in the Investors and Exporters window on Monday, representing a 11.15% fall from $46.17 million that exchanged hands on Friday.

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Exchange rate between naira and dollar depreciates to N708/$1 at the black market on 19th September 2022

The exchange rate between the naira and the US dollar at the parallel market on Monday, 19th September 2022 depreciated to N708/$1, representing a 0.43% fall compared to N705/$1 recorded as of the close of trade last week Friday. This is according to information for black market traders.

Also, the local currency depreciated at the cryptocurrency peer-to-peer FX market, trading at a minimum of N713.67/$1 on Monday morning, a 0.025% decline from N713.49/$1 that it traded at the same time on Friday.

On the other hand, naira appreciated slightly against the US dollar to close at N436.25/$1 on Friday, 16th September 2022 from N436.33/$1 that it closed in the previous trading session. Meanwhile, a total of $46.17 million was traded at the window, a significant decline compared to $118.2 million recorded on Thursday.

Nigeria’s external reserve stood at $38.69 billion as of 15th September 2022, a slight decline of 0.12% from $38.76 billion recorded as of the previous day. The nation’s foreign reserve has been on a downward trend due to the constant intervention by the CBN in the official market to maintain the stability of the local currency.

Trading at the official NAFEX window

The exchange rate at the official market closed at N436.25/$1 on Friday, 16th September 2022, from N436.33/$1 recorded on Thursday, the previous trading session.

• The opening indicative rate closed at N434.67/$1 on Friday, 16th September 2022, as against N434.75 recorded in the previous session.
• Furthermore, an exchange rate of N437/$1 was the highest rate recorded during intra-day trading before it settled at N436.25/$1, while it traded as low as N434.5/$1 during intra-day trading.
• A total of $46.17 million in FX value was traded in the Investors and Exporters window on Friday which is 60.94% lower than $118.2 million that exchanged hands on Thursday.

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Exchange rate between naira and dollar appreciates to N705/$1 at the black market on 16th September 2022

The exchange rate between the naira and the US dollar at the parallel market on Friday, 16th September 2022 appreciated marginally to N705/$1, representing a 0.14% improvement compared to N706/$1 recorded in the previous trading session. This is according to information for black market traders.

According to the black market traders, they sell dollars at the rate of N703/$1 for those who prefer transfer, while for cash transactions it is sold at N705/$1. They attributed the disparity to the lack of cash in the market.

In this vein, the exchange rate at the official I&E window appreciated slightly by 0.04% to close at N436.33/$1 on Thursday, 15th September 2022 from N436.5/$1 recorded on Wednesday. Forex turnover also surged by 79.23% to $118.2 million as against the $65.95 million that exchanged hands on Wednesday.

The exchange rate at the cryptocurrency peer-to-peer FX market witnessed a marginal depreciation on Friday morning to trade at a minimum of N713.49/$1 on Friday morning, as against N713/$1 that it traded at the same time on Thursday.

Nigeria’s foreign reserve stood at $38.74 billion as of 14th September 2022, a slight dip of 0.12% from $38.78 billion recorded as of the previous day. The nation’s foreign reserve has been on a downward trend due to the constant intervention by the CBN in the official market to maintain the stability of the local currency.

Trading at the official NAFEX window

The exchange rate at the official market closed at N436.33/$1 on Thursday, 15th September 2022, from N436.5/$1 recorded on Wednesday, the previous trading session.

• The opening indicative rate closed at N434.75/$1 on Thursday, 15th September 2022, same as recorded in the previous session.
• Furthermore, the exchange rate of N438.45/$1 was the highest rate recorded during intra-day trading before it settled at N436.33/$1, while it traded as low as N420.5/$1 during intra-day trading.
• A total of $118.2 million in FX value was traded in the Investors and Exporters window on Thursday which is 79.23% higher than $65.95 million that exchanged hands on Wednesday.

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Exchange rate between naira and dollar appreciates marginally to N706/$1 at the black market on 15th September 2022

The exchange rate between the naira and dollar at the parallel market on Thursday 15th September 2022 appreciated marginally to N706/$1, representing a 0.14% improvement compared to N707/$1 recorded in the previous trading session. This is according to information for black market traders.

On the other hand, the exchange rate at the official I&E window depreciated slightly to close at N436.5/$1 on Wednesday, 14th September 2022 from N436.04/$1 recorded on Tuesday. The depreciation in the closing exchange rate is following the 21.22% decline in the amount of FX traded in the I&E window.

Notably, a total of $65.95 million was recorded as forex turnover on Wednesday, which is 21.22% lower than the $83.71 million that exchanged hands on Tuesday.

The exchange rate at the cryptocurrency peer-to-peer FX market fell by 0.85% to trade at a minimum of N713/$1 on Thursday morning, as against N706.98/$1 that it traded at the same time on Wednesday.

Nigeria’s foreign reserve stood at $38.78 billion as of 13th September 2022, a slight dip of 0.09% from $38.82 billion recorded as of the previous day. The nation’s foreign reserve has been on a downward trend due to the constant intervention by the CBN in the official market to maintain the stability of the local currency.

Trading at the official NAFEX window

The exchange rate at the official market closed at N436.5/$1 on Wednesday, 14th September 2022, from N436.04/$1 recorded on Tuesday, the previous trading day.

• The opening indicative rate closed at N434.75/$1 on Wednesday, 14th September 2022, same as recorded in the previous session.
• Furthermore, the exchange rate of N437/$1 was the highest rate recorded during intra-day trading before it settled at N436.5/$1, while it traded as low as N423/$1 during intra-day trading.
• A total of $65.95 million in FX value was traded in the Investors and Exporters window on Wednesday which represents a 21.22% decline compared to the $83.71 million that exchanged hands on Tuesday.

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Exchange rate between naira and dollar falls to N707/$1 at the black market on 14th September 2022

The exchange rate between the naira and dollar at the parallel market on Wednesday 14th September 2022 fell to N707/$1, representing a 0.28% depreciation compared to N705/$1 recorded in the previous trading session. This is according to information for black market traders. 

On the other hand, the exchange rate at the official I&E window has remained stable in the past week, albeit at a high rate as it closed at N436.04/$1 on Tuesday, 13th September 2022. This varies slightly when compared to N436.5/$1 recorded in the previous trading session. 

Meanwhile, a total of $83.71 million was recorded as forex turnover on Tuesday, which is 16.1% lower than the $99.78 million that exchanged hands on Monday. 

The exchange rate at the cryptocurrency peer-to-peer FX market fell by 0.35% to trade at N706.98/$1 on Wednesday morning, as against N704.5/$1 that it traded at the same time me on Tuesday. 

Nigeria’s foreign reserve stood at $38.82 billion as of 12th September 2022, a dip of 0.26% from $38.92 billion recorded as of the previous day. The nation’s foreign reserve has been on a downward trend due to the constant intervention by the CBN in the official market to maintain the stability of the local currency. 

Trading at the official NAFEX window 

The exchange rate at the official market closed at N436.04/$1 on Tuesday, 13th September 2022, from N436.5/$1 recorded on Monday, the previous trading day. 

• The opening indicative rate closed at N434.75/$1 on Tuesday, 13th September 2022, compared to N434.4/$1 recorded in the previous trading session. 
• Furthermore, the exchange rate of N437/$1 was the highest rate recorded during intra-day trading before it settled at N436.04/$1, while it traded as low as N435/$1 during intra-day trading. 
• A total of $83.71 million in FX value was traded in the Investors and Exporters window on Monday which is 16.11% lower than the $99.78 million that exchanged hands on Monday. 

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Exchange rate between naira and dollar trades at N705/$1 at the black market on 13th September 2022 

Monday, 12th September 2022: The exchange rate between the naira and the US dollar at the I&E window closed at N436.5/$1, a slight depreciation of 0.04% compared to N436.33/$1 recorded on Friday, 9th September 2022.

The exchange rate at the parallel market traded at N705 to a dollar on Tuesday 13th September 2022, which represents a 0.14% appreciation from N706/$1 recorded in the previous trading day. 

In the same vein, the exchange rate at the cryptocurrency peer-to-peer FX market appreciated by 0.14% to trade at N704.5/$1 on Tuesday morning, as against N705/$1 that it traded as of the same time on Monday. 

Nigeria’s foreign reserve stood at $38.917 billion as of 9th September 2022, from $38.9157 billion recorded as of the previous day. The nation’s foreign reserve has been on a downward trend due to the constant intervention by the CBN in the official market to maintain the stability of the local currency. 

Trading at the official NAFEX window 

The exchange rate at the official market closed at N436.5/$1 on Monday, 12th September 2022, from N436.33/$1, recorded on Friday, last week. 

• The opening indicative rate closed at N434.4/$1 on Monday, 12th September 2022, compared to N433.83/$1 recorded in the previous trading session. 
• Furthermore, an exchange rate of N437/$1 was the highest rate recorded during intra-day trading before it settled at N436.5/$1, while it traded as low as N425/$1 during intra-day trading. 
• A total of $99.78 million in FX value was traded in the Investors and Exporters window on Monday which is 51.14% higher than the $66.02 million that exchanged hands on Friday. 

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Exchange rate between naira and dollar trades at N706/$ at the black market on 12th September 2022

The exchange rate between the naira and the US dollar stood at N706/$1 on Monday, 12th September 2022 morning, a 0.28% appreciation compared to N708/$1 recorded on Friday, last week. This is according to information obtained from black market operators.

The local currency declined marginally against the US dollar to close at N436.33/$1 at the official exchange rate market (I&E window), representing a 0.002% depreciation compared to N436.32/$1 recorded in the previous trading session.

Meanwhile, a total of $66.02 million was traded at the official market on Friday, which is 76.05% higher than the $37.5 million that exchanged hands on Thursday, 8th September 2022.

On the other hand, the exchange rate at the cryptocurrency peer-to-peer FX market appreciated by 0.14% to trade at N705/$1 on Monday morning, as against N706/$1 that it traded as of the same time last week Friday.

Nigeria’s foreign reserve stood at $38.92 billion as of 8th September 2022, from $38.9156 billion recorded as of the previous day. The nation’s foreign reserve has been on a downward trend due to the constant intervention by the CBN in the official market to maintain the stability of the local currency.

Trading at the official NAFEX window

The exchange rate at the official market closed at N436.33/$1 on Friday, 9th September 2022, from N436.32/$1 recorded in the previous trading session.

• The opening indicative rate closed at N433.83/$1 on Friday, 9th September 2022, compared to N433.75/$1 recorded in the previous day.
• Furthermore, an exchange rate of N437/$1 was the highest rate recorded during intra-day trading before it settled at N436.33/$1, while it traded as low as N425/$1 during intra-day trading.
• A total of $66.02 million in FX value was traded in the Investors and Exporters window on Friday which is 76.1% higher than the $37.5 million that exchanged hands on Thursday.

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Exchange rate between naira and dollar trades at N708/$ at the black market on 9th September 2022

The exchange rate between the naira and the US dollar stood at N708/$1 on Friday, 9th September 2022 morning, the same as recorded in the previous trading session. This is according to information obtained from black market operators.

Meanwhile, the exchange rate at the official Investors and Exporters window dipped further to close at N436.32/$ on Thursday, 8th September 2022, representing a slight appreciation of 0.04% when compared to N436.5/$1 recorded in the previous trading session.

The supply of forex fell marginally by 54.4% to stand at $37.5 million when compared to $82.23 million which was traded at the official market in the previous trading session.

On the other hand, the exchange rate at the cryptocurrency peer-to-peer FX market appreciated slightly by 0.03% to stand at N706/$1 on Friday morning, as against N706.54/$1 that it traded as of the same time the previous day.

Nigeria’s foreign reserve stood at $38.92 billion, recording a slight decline of 0.05% as of Tuesday 6th September 2022, from $38.94 billion recorded as of the previous day.. The nation’s foreign reserve has been on a downward trend due to the constant intervention by the CBN in the official market to maintain the stability of the local currency.

Trading at the official NAFEX window

The exchange rate at the official market closed at N436.5/$1 on Thursday, 8th September 2022, from N436/$1 recorded in the previous trading session.

• The opening indicative rate closed at N433.75/$1 on Thursday, 8th September 2022, compared to N431.88/$1 recorded in the previous day.
• Furthermore, an exchange rate of N437.5/$1 was the highest rate recorded during intra-day trading before it settled at N436.32/$1, while it traded as low as N425/$1 during intra-day trading.
• A total of $37.5 million in FX value was traded in the Investors and Exporters window on Thursday which is 54.40% lower than $82.23 million that exchanged hands the previous day.

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Exchange rate between naira and dollar falls to N708/$ at the black market on 8th September 2022

The exchange rate between the naira and the US dollar depreciated further on Thursday, 8th September 2022 morning, trading at an average of N708/$1 compared to N704/$1 recorded in the previous trading session.

This is according to information obtained from black market operators. According to the traders, they buy dollar from individuals at a rate of N700, while they sell at an average of N708/$1 depending on the quantity.

Also, the exchange rate at the official Investors and Exporters window dipped further to close at N436.5/$ on Wednesday, 7th September 2022, representing a 0.11% depreciation when compared to N436/$1 recorded in the previous trading session.

A total of $82.23 million was traded at the official market, which is 30.4% higher than the $63.05 million that exchanged hands in the previous trading session.

On the other hand, the exchange rate at the cryptocurrency peer-to-peer FX market appreciated slightly by 0.05% to stand at N706.2/$1 on Thursday morning, as against N706.54/$1 that it traded as of the same time the previous day.

Nigeria’s foreign reserve stood at $38.92 billion, recording a slight decline of 0.05% as of Tuesday 6th September 2022, from $38.94 billion recorded as of the previous day.. The nation’s foreign reserve has been on a downward trend due to the constant intervention by the CBN in the official market to maintain the stability of the local currency.

Trading at the official NAFEX window

The exchange rate at the official market closed at N436.5/$1 on Wednesday, 7th September 2022, from N436/$1 recorded in the previous trading session.

• The opening indicative rate closed at N431.88/$1 on Wednesday, 7th September 2022, compared to N433/$1 recorded in the previous day.
• Furthermore, an exchange rate of N437.5/$1 was the highest rate recorded during intra-day trading before it settled at N436.5/$1, while it traded as low as N418/$1 during intra-day trading.
• A total of $82.23 million in FX value was traded in the Investors and Exporters window on Wednesday which is 30.42% higher than $63.05 million that exchanged hands the previous day.

 

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Exchange rate between naira and dollar falls to N706/$ at the P2P market on 7th September 2022

6th September 2022: The naira fell to a record low of N436/$1 at the official Investors and Exporters window, representing a 0.29% depreciation compared to N434.75/$1 recorded in the previous trading session.

A total of $63.05 million in FX value was traded at the official market, a 36.8% decline compared to $99.68 million that exchanged hands in the previous trading session.

Also, the exchange rate at the cryptocurrency peer-to-peer FX market dipped by 0.22% to stand at N706.54/$1 on Wednesday morning, as against N704.99/$1 that it traded as of the same time the previous day.

Naira on the other hand appreciated slightly by 0.14% on Wednesday to trade at N704/$1 at the black market compared to N705/$1 recorded on Tuesday, 6th September 2022. This is according to information obtained from black market operators.

Nigeria’s foreign reserve stood at $38.94 billion, recording a slight decline of 0.16% as of Monday, 5th September 2022, from $38.99 billion recorded as of the previous day.. The nation’s foreign reserve has been on a downward trend due to the constant intervention by the CBN in the official market to maintain the stability of the local currency.

Trading at the official NAFEX window

The exchange rate at the official market closed at N436/$1 on Tuesday, 6th September 2022, from N434.75/$1 recorded in the previous trading session.

• The opening indicative rate closed at N433/$1 on Tuesday, 6th September 2022, compared to N431.3/$1 recorded in the previous day.
• Furthermore, an exchange rate of N437/$1 was the highest rate recorded during intra-day trading before it settled at N436/$1, while it traded as low as N425/$1 during intra-day trading.
• A total of $63.05 million in FX value was traded in the Investors and Exporters window on Tuesday which is 36.75% lower than $99.68 million that exchanged hands the previous day.

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Exchange rate between naira and dollar falls to N705/$ at black market on 5th September 2022

5th September 2022: The exchange rate between the naira and US dollar fell to record low of N434.75/$1 at the official Investors and Exporters window, representing a 0.75% depreciation compared to N431.5/$1 recorded in the previous trading session.

The depreciation of the local currency against the USD is despite the 6.56% in the amount of forex traded in the market. Notably, forex turnover increased from $93.54 million traded on Friday, 2nd September 2022 to $99.68 million on Monday.

Also, the exchange rate at the cryptocurrency peer-to-peer FX market fell by 0.569% to stand at N704.99/$1 on Tuesday morning, compared to N701/$1 that it traded as of the same time the previous day.

In the same vein, Naira closed at N705/$1 on Monday, 5th September 2022 at the black market from N702/$1 recorded in the previous trading session. This is according to information obtained from black market operators.

Similarly, Nigeria’s foreign reserve recorded a slight decline of 0.07% to stand at $38.99 billion as of Friday, 2nd September 2022, from $39.02 billion recorded as of the previous day.. The nation’s foreign reserve has been on a downward trend due to the constant intervention by the CBN in the official market to maintain the stability of the local currency.

Trading at the official NAFEX window

The exchange rate at the official market closed at N434.75/$1 to a dollar on Monday, 5th September 2022, from N431.5/$1 recorded in the previous trading session.

• The opening indicative rate closed at N431.3/$1 on Monday, 5th September 2022, compared to N429.1/$1 recorded in the previous day.
• Furthermore, an exchange rate of N437.5/$1 was the highest rate recorded during intra-day trading before it settled at N434.75/$1, while it traded as low as N425/$1 during intra-day trading.
• A total of $99.68 million in FX value was traded in the Investors and Exporters window on Friday which is 6.56% higher than $93.54 million that exchanged hands the previous day.

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Naira falls to N705/$1 at black market as FX liquidity remains low

The exchange between the naira and the US dollar fell to N705/$1 for those buying FX at the black market. This represents a 0.43% depreciation when compared to N702/$1 recorded on Friday, 2nd September 2022.

This is according to information from black market forex traders around Lagos State. Meanwhile, the exchange rate at the official market also fell to a record low of N431.5/$1 in the last trading session, hitting an intra-day high of N444/$1.

A total of $93.54 million exchanged hands on Friday, representing a 25.25% increase compared to $74.68 million traded on Thursday, 1st September 2022. The volume of forex traded during the week averaged $82.9 million per day, in contrast to $126.8 million recorded in the previous week.

Similarly, the exchange rate at the cryptocurrency peer-to-peer FX exchange likewise depreciated slightly to N701.8/$1 during mid-day trading on Monday from N697.5/$1 recorded as of the same time on Friday. This represents a 0.62% fall against the US dollar in the P2P market.

Also, Nigeria’s foreign reserve recorded a slight decline of 0.002% to stand at $39.02 billion. The nation’s foreign reserve has been on a downward trend due to the constant intervention by the CBN in the official market to maintain the stability of the local currency.

Trading at the official NAFEX window

The exchange rate at the official market closed at N431.5/$1 to a dollar on Friday, 2nd September 2022, from N430/$1 recorded in the previous trading session.

• The opening indicative rate closed at N429.1/$1 on Friday, 2nd September 2022, compared to N429/$1 recorded in the previous day.
• Furthermore, an exchange rate of N444/$1 was the highest rate recorded during intra-day trading before it settled at N431.5/$1, while it traded as low as N418/$1 during intra-day trading.
• A total of $93.54 million in FX value was traded in the Investors and Exporters window on Friday which is 25.25% higher than $74.68 million that exchanged hands the previous day.

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Naira depreciates marginally at official market as external reserve stands at $39 billion 

Thursday, 1st September 2022: The exchange rate between the naira and the US dollar closed at N430/$1 at the Investors and Exporters window, where forex is traded officially. 

Naira closed at N430/$1 on Thursday, 1st September 2022, representing a marginal depreciation of 0.13% compared to N429.44/$1 recorded in the previous trading session. The value of FX supply that exchanged hands on Thursday totalled $74.68 million which is 31.78% lower than $109.47 million traded on Wednesday, 31st August, 2022. 

The exchange rate at the cryptocurrency peer-to-peer FX exchange likewise depreciated to N697.5/$1 on Friday morning from N693.2/$1 recorded as of the same time on Thursday. This represents a 0.62% fall against the US dollar in the P2P market. 

Also, the exchange rate at the parallel market depreciated by 0.43% to close at N700/$1 on Thursday from N697/$1 traded on Wednesday. This is according to information gathered by Nairametrics from black market FX traders. 

In the same vein, Nigeria’s foreign reserve continued its gains on Wednesday, as the reserve gained 0.02% to stand at $39.02 billion. The nation’s foreign reserve had been on a downward trend due to the constant intervention by the CBN in the official market to maintain the stability of the local currency. 

Trading at the official NAFEX window 

The exchange rate at the official market closed at N430/$1 to a dollar on Thursday, 1st September 2022, from N429.44/$1 recorded in the previous trading session. 

• The opening indicative rate closed at N429/$1 on Thursday, 1st September 2022, compared to N429.17/$1 recorded in the previous day. 
• Furthermore, an exchange rate of N437/$1 was the highest rate recorded during intra-day trading before it settled at N430/$1, while it traded as low as N417/$1 during intra-day trading. 
• A total of $74.68 million in FX value was traded in the Investors and Exporters window on Thursday, a 31.78% dip from $109.47 million that exchanged hands in the previous day. 

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Naira falls to N453/$1 during intra-day trading at official market

Wednesday, 31st August 2022: The exchange rate between the naira and the US dollar closed at N429.44/$1 at the Investors and Exporters window, where forex is traded officially. Naira had traded at a record high of N453.2/$1 during intra-day trading before moderating to N429.44/$1 on Wednesday.

Naira closed on a positive note on Wednesday, 31st August 2022, gaining 0.36% to close at N429.44/$1 compared to N431/$1 recorded in the previous trading session. A total of $109.47 million in FX value exchanged hands on Wednesday.

Similarly, the exchange rate at the cryptocurrency peer-to-peer FX exchange appreciated to N693.2/$1 on Thursday morning from N699.04/$1 recorded as of the same time on Wednesday. This represents a 0.84% gain against the US dollar at the P2P market.

In the same vein, Nigeria’s foreign reserve continued its gains on Tuesday, as the reserve gained 0.03% to stand at $39.02 billion, surpassing the $39 billion threshold once again. The nation’s foreign reserve had been on a downward trend due to the constant intervention by the CBN in the official market to maintain the stability of the local currency.

Trading at the official NAFEX window

The exchange rate at the official market closed at N429.44/$1 to a dollar on Wednesday, 31st August 2022, from N431/$1 recorded in the previous trading session.

• The opening indicative rate closed at N429.17/$1 on Wednesday, 31st August 2022.
• Furthermore, an exchange rate of N453/$1 was the highest rate recorded during intra-day trading before it settled at N429.44/$1, while it traded as low as N418/$1 during intra-day trading.
• A total of $109.47 million in FX value was traded in the Investors and Exporters window on Wednesday..

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Forex supply falls further to $54 million as exchange rate remains stable

Monday, 29th August 2022: The exchange rate between the naira and the US dollar closed at N430.67/$1 at the Investors and Exporters window, where forex is traded officially.

Naira remained stable at the I&E window on Monday, closing at the same rate recorded in the previous trading session, despite the further decline in the amount of forex traded at the official market. Specifically, forex turnover decreased by 34.3% to $54.13 million from $82.38 million recorded on Friday, 26th August 2022.

Meanwhile, the exchange rate at the cryptocurrency peer-to-peer FX exchange traded at N699.29/$1 on Friday morning, a 0.09% appreciation when compared to N699.92/$1 recorded as of the same time on Monday.

Trading at the official NAFEX window

The exchange rate at the official market closed at N430.33/$1 to a dollar on Monday, 29th August 2022, the same as recorded in the previous trading session.

• The opening indicative rate closed at N429.07/$1 on Monday, 29th August 2022, from N428.5/$1 recorded on Friday of the previous week.
• Furthermore, an exchange rate of N432/$1 was the highest rate recorded during intra-day trading before it settled at N430.33/$1, while it traded as low as N417/$1 during intra-day trading.
• A total of $54.13 million in FX value was traded on Monday, which is 34.29% lower than the $82.38 million that exchanged hands on Friday, 26th August 2022.

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Forex supply falls to $82.9 million as exchange rate depreciates to N698/$1 at black market

Thursday, 25th August 2022: The exchange rate between the naira and the US dollar closed at N430.67/$1 at the Investors and Exporters window, where forex is traded officially.

Naira appreciated slightly against the US dollar on Thursday, by 0.08% to close at N430.67/$1 compared to N431/$1 recorded in the previous trading session. The supply of forex that exchange hands dipped significantly by 36.88% to stand at $82.88 million as against $131.30 million traded on Wednesday.

On the flip side, the exchange rate at the cryptocurrency peer-to-peer FX exchange traded at N697/$1 on Friday morning, a 0.14% depreciation when compared to N696/$1 recorded as of the same time on Thursday.

Similarly, naira closed trading at N698/$1 at the black market on Thursday, indicating a 0.29% depreciation against the US dollar, representing the lowest level since August 1, 2022. This is according to information from black market operators.

Meanwhile, Nigeria’s external reserves declined slightly by 0.003% on Wednesday, 24th August 2022, to stand at $38.94 billion from $38.941 billion recorded in the previous trading trade. The reserve level had dropped significantly year-to-date due to the constant intervention by the CBN in the official FX market in a bid to manage exchange rate volatility.

Trading at the official NAFEX window

The exchange rate at the official market closed at N430.67/$1 to a dollar on Thursday, 25th August 2022 recording an improvement of 0.08% compared to N431/$1 recorded on Wednesday, 24th August 2022.

• The opening indicative rate closed at N429.75/$1 on Thursday, 25th August 2022, from N428.67/$1 recorded on Wednesday.
• Furthermore, an exchange rate of N444/$1 was the highest rate recorded during intra-day trading before it settled at N430.67/$1, while it traded as low as N417/$1 during intra-day trading.
• A total of $82.88 million in FX value was traded on Thursday, which is 36.9% lower than the $131.3 million that exchanged hands on Wednesday, 24th August 2022.

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Naira depreciates to N696/$1 at P2P forex market

Wednesday, 24th August 2022: The exchange rate between the naira and the US dollar closed at N431/$1 at the Investors and Exporters window, where forex is traded officially.

Naira depreciated further against the US dollar on Wednesday, representing the third consecutive day of decline as the e