The exchange rate between the naira and the US dollar traded for an average of N746/$1 on Friday, 3rd February 2023, representing a 0.40% appreciation when compared to N749/$1 recorded in the previous trading session.
This is according to information provided by parallel market dealers to RateCaptain.
Similarly, the exchange rate at the cryptocurrency P2P exchange appreciated on Friday morning to trade at a minimum of N753.5/$1, from N755/$1 recorded on Tuesday’s trading session.
The Investors and Exporters window, on the other hand, closed at N462/$1 on Thursday, 2nd January 2023, representing a 0.11% depreciation compared to N461.50/$1 recorded in the previous trading session.
Nigeria’s external reserves stood at $37.010 billion as of February 2nd, 2023, representing a marginal increase from the $36.996 billion recorded as of January 31st, 2023, indicating a 0.037% decrease in the nation’s reserve level.
Trading at the official NAFEX window
The exchange rate at the official market closed at N462/$1 on Thursday, February 2nd, 2023, a 0.11% depreciation from N461.50/$1 recorded in the previous trading session. The opening indicative rate was N461.10/$1 on Thursday, February 2nd, 2023. Furthermore, an exchange rate of N462.55/$1 was the highest rate recorded during intra-day trading before it settled at N462/$1, while it traded for as low as N423/$1 during intra-day trading. A total of $119.35 million in FX value exchanged hands at the Investors and Exporters window on Thursday 2nd February 2023, which is 11.71% higher than the $105.37 million that was traded in the previous session.
