The exchange rate between the naira and the US dollar traded for an average of N775/$1 on Thursday, 16 February 2023, representing a 1.68% depreciation when compared to N762/$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 N753/$1, from N752/$1 recorded on Tuesday’s trading session.
The Investors and Exporters window closed at N461.50/$1 on Wednesday, 15 February 2023, representing a 0.04% appreciation compared to N461.67/$1 recorded in the previous trading session.
Nigeria’s external reserves stood at $36.809 billion as of February 14, 2023, representing a marginal decrease from the $37.817 billion recorded as of February 10, 2023, indicating a 0.002% 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 Wednesday, February 15, 2023, a 0.002% appreciation from N461.75/$1 recorded in the previous trading session. The opening indicative rate was N462.02/$1 on Wednesday, February 15, 2023. Furthermore, an exchange rate of N461.25/$1 was the highest rate recorded during intra-day trading before it settled at N462.02/$1, while it traded for as low as N446/$1 during intra-day trading. A total of $89.54 million in FX value exchanged hands at the Investors and Exporters window on Wednesday 15 February 2023, which is 23.10% higher than the $68.85 million that was traded in the previous session.
