On Thursday, June 22, 2023, the Investors and Exporters window recorded depreciation in the value of the naira as it closed on an average of N763/$ as of June 21, 2023, from N741/$ recorded in the previous trading session.
This is according to information seen by RateCaptain from the FMDQ official website,
On the other hand, the exchange rate between the naira and the US dollar appreciated to trade at an average of N762/$ on the black market, compared to the N765/$ in the previous trading session.
Additionally, the Naira experienced a slight decline against the British Pound, trading at an average exchange rate of N975/£1 on June 22, 2023. This indicates a 0.52% decrease compared to the exchange rate of N970/£1 recorded in the previous trading session.
Furthermore, the Naira experienced a 0.61% depreciation against the Euro, trading at an average exchange rate of N825/€1 on June 22, 2023. This contrasted with the previous trading session where the naira traded at N820/€1.
FOREIGN RESERVE
Nigeria’s external reserves stood at $34.449 billion as of June 20, 2023, representing a marginal decrease from the $34.493 billion recorded as of June 19, 2023, indicating a 0.001% decrease in the nation’s reserve level.
Trading at the official NAFEX window
The exchange rate at the official market closed at N763/$1 on June 20, 2023, from N741/$ recorded in the previous trading session. The opening indicative rate was N741.21/$1 on June 20, 2023. Furthermore, an exchange rate of N815/$1 was the highest rate recorded during intra-day trading before it settled at N763/$1, while it traded for as low as N476/$1 during intra-day trading.
