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.
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.