Naira depreciated against the US dollar at the parallel market on Monday morning, 30 January 2023, to trade at an average of N752/$1, representing a 0.53% marginal decrease in contrast to an average of N748/$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 depreciated on Monday morning to trade at a minimum of N757/$1, a 0.26% upward trend compared to N755/$1 recorded in the previous trading day.
On the other hand, the Investors and Exporters window recorded a marginal change in the value of the naira on an average of N461.75/S, increasing by 0.132 percent from the previous trading average of N461.25/$1 recorded in the previous trading session.
Nigeria’s external reserves stood at $37.069 billion as of January 26, 2023, representing a marginal decrease from the $37.096 billion recorded as of January 25, 2022, indicating a 0.073% decrease in the nation’s reserve level.
Trading at the official NAFEX window
The exchange rate at the official market closed at N461.75/$1 on Friday, January 26, 2023, from N461.25/$1 recorded in the previous trading session. The opening indicative rate closed at N461.75/$1 on Friday, January 26, 2023. Furthermore, an exchange rate of N462/$1 was the highest rate recorded during intra-day trading before it settled at 461.75$, while it traded for as low as N446/$1 during intra-day trading. A total of $97.67 million in FX value exchanged hands at the Investors and Exporters window on Friday 27 January 2023, which is 53.78% higher than the $45.16 million that was traded in the previous session.