The exchange rate between the naira and the US dollar traded for an average of N762/$1 on Wednesday, 15 February 2023, representing a 0.92% depreciation when compared to N755/$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 Tuesday to trade at a minimum of N754/$1, from N753/$1 recorded on Tuesday’s trading session.
The Investors and Exporters window closed at N461.67/$1 on Wednesday, 15 February 2023, representing a 0.15% appreciation compared to N461.00/$1 recorded in the previous trading session.
Nigeria’s external reserves stood at $36.817 billion as of February 13, 2023, representing a marginal decrease from the $37.820 billion recorded as of February 10, 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 N461.25/$1 on Tuesday, February 14, 2023, a 0.001% depreciation from N461.00/$1 recorded in the previous trading session. The opening indicative rate was N461.25/$1 on Tuesday, February 14, 2023. Furthermore, an exchange rate of N462.50/$1 was the highest rate recorded during intra-day trading before it settled at N461.25/$1, while it traded for as low as N446/$1 during intra-day trading. A total of $68.85 million in FX value exchanged hands at the Investors and Exporters window on Tuesday 14 February 2023, which is 99.9% lower than the $208.91 million that was traded in the previous session.
