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Home Currencies

Naira depreciates to N746/$ in the parallel market.

Rate Captain by Rate Captain
March 30, 2023
in Currencies
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Naira appreciates to N765/$ in the parallel market.
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The exchange rate between the naira and the US dollar traded for an average of N746/$1 on Thursday, March 30, 2023, indicating a depreciation of 0.001% compared to the N745/$1 recorded in the previous trading session.

This is according to information provided by parallel market dealers to RateCaptain.

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However, the exchange rate at the cryptocurrency P2P exchange remained stable on Thursday to trade at a minimum of N743/$1, which was the same as recorded in the previous trading session.

The Investors and Exporters window closed at N461.24/$1 on Wednesday, March 29, 2023, representing a 0.01% appreciation compared to N461.50/$1 recorded in the previous trading session.

Nigeria’s external reserves stood at $35.568 billion as of March 29, 2023, representing a marginal decrease from the $35.604 billion recorded as of March 28, 2023, indicating a 0.104% decrease in the nation’s reserve level.

Trading at the official NAFEX window

The exchange rate at the official market closed at N461.24/$1 on Wednesday, March 29, 2023, a 0.01% appreciation from N461.50/$1 recorded in the previous trading session. The opening indicative rate was N461.50/$1 on March 29, 2023. Furthermore, an exchange rate of N462.13/$1 was the highest rate recorded during intra-day trading before it settled at N461.24/$1, while it traded for as low as N459.50/$1 during intra-day trading. A total of $74.31 million in FX value exchanged hands at the Investors and Exporters window on Wednesday, March 29, 2023, which is 12.76% lower than the $60.79 million that was traded in the previous session.

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