The exchange rate between the naira and the US dollar traded for an average of N750/$1 on Monday, 6 February 2023, representing a 0.53% depreciation when compared to N746/$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 depreciated on Monday morning to trade at a minimum of N755/$1, from N753/$1 recorded on Tuesday’s trading session.
On the other hand, the Investors and Exporters window closed at N461.50/$1 on Friday, 6 January 2023, representing a 0.11% appreciation compared to N462/$1 recorded in the previous trading session.
Nigeria’s external reserves stood at $37.020 billion as of February 3, 2023, representing a marginal increase from the $37.010 billion recorded as of February 2, 2023, indicating a 0.028% decrease in the nation’s reserve level.
Trading at the official NAFEX window
The exchange rate at the official market closed at N461.50/$1 on Friday, February 3, 2023, a 0.11% appreciation from N462/$1 recorded in the previous trading session. The opening indicative rate was N461.40/$1 on Friday, February 3, 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 N460/$1 during intra-day trading. A total of $119.43 million in FX value exchanged hands at the Investors and Exporters window on Friday 3 February 2023, which is 0.07% higher than the $119.35 million that was traded in the previous session.
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