The exchange rate between the naira and the US dollar traded for an average of N945/$1 on Thursday, September 14, 2023, indicating a depreciation of 0.002% compared to the N930/$1 recorded in the previous trading session.
This is according to information provided by parallel market dealers to RateCaptain.
During the morning trading session, one dollar traded at N940, higher than N930 traded on Wednesday at the black market.
However, the exchange rate at the cryptocurrency P2P exchange remained stable on Thursday to trade at a minimum of N740/$1, which was the same as recorded in the previous trading session.
The Investors and Exporters window closed at N758.12/$1 on Wednesday, September 13, 2023, representing a 0.03% appreciation compared to N768.49/$1 recorded in the previous trading session.
Nigeria’s external reserves stood at $35.294 billion as of September 12, 2023, representing a marginal increase from the $35.293 billion recorded as of September 11, 2023, indicating a 0.001% increase in the nation’s reserve level.
Trading at the official NAFEX window
The exchange rate at the official market closed at N758.12/$1 on Wednesday, September 13, 2023, a 0.01% appreciation from N768.49/$1 recorded in the previous trading session. The opening indicative rate was N768.49/$1 on September 13, 2023. Furthermore, an exchange rate of N807.14/$1 was the highest rate recorded during intra-day trading before it settled at N758.12/$1, while it traded for as low as N720.00/$1 during intra-day trading. A total of $52.87 million in FX value exchanged hands at the Investors and Exporters window on Wednesday, September 13, 2023.
