The exchange rate between the naira and the US dollar at the parallel market appreciated on Monday, January 23, 2023, trading at an average of N748/$1.
This is according to information provided by black market dealers to RateCaptain; the naira increased in value by 0.27% in comparison to the N750/$1 recorded on the previous day.
On the other hand, the exchange rate at the cryptocurrency P2P exchange remained flat on Monday 23 January 2023 trading at an average of N755/$ at the same rate recorded in the previous trading session.
The exchange rate at the official market closed at N461.50/$1 on Friday, January 20, 2023, compared to N461.25$1 recorded in the previous trading session. It recorded a marginal decrease of 0.05% compared to N461.25/$1 that which closed at the end of the previous trading session.
Nigeria’s external reserves stood at $37.202 billion as of January 19, 2023, representing a marginal decrease from the $37.205 billion recorded as of January 17, 2023, indicating a 0.01% decrease in the nation’s reserve level.
Trading in the official NAFEX window
The exchange rate at the official market closed at N461.50/$1 on Friday, January 20, 2023, compared to N461.25$1 recorded in the previous trading session. The opening indicative rate closed at N461.50/$1 on Thursday, January 18, 2023. Furthermore, an exchange rate of N462/$1 was the highest rate recorded during intra-day trading before it settled at N461.50/1, while it traded for as low as N440/$1 during intra-day trading. A sum of $96.81 million in FX value exchanged hands at the Investor and exporters’ FX window on Friday.
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