The exchange rate between the naira and the US dollar traded for an average of N767/$1 on Wednesday, February 22, 2023, indicating a depreciation of 0.27% compared to the N765/$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 remained stable on Wednesday to trade at a minimum of N755/$1, which was the same as recorded in the previous trading session.
The Investors and Exporters window closed at N461.55/$1 on Tuesday, February 21, 2023, representing a 0.01% appreciation compared to N461.50/$1 recorded in the previous trading session.
Nigeria’s external reserves stood at $36.733 billion as of February 20, 2023, representing a marginal decrease from the $37.760 billion recorded as of February 17, 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 N461.55/$1 on Tuesday, February 21, 2023, a 0.01% appreciation from N461.50/$1 recorded in the previous trading session. The opening indicative rate was N461.55/$1 on Tuesday, February 21, 2023. Furthermore, an exchange rate of N462.41/$1 was the highest rate recorded during intra-day trading before it settled at N461.55/$1, while it traded for as low as N406.75/$1 during intra-day trading. A total of $48.28 million in FX value exchanged hands at the Investors and Exporters window on Tuesday, February 21, 2023, which is 10.76% higher than the $40.28 million that was traded in the previous session.