The exchange rate between the naira and the US dollar traded for an average of N745/$1 on Monday, March 8, 2023, indicating a 0.01% appreciation compared to the N748/$1 recorded in the previous trading session.
This is according to information provided by parallel market dealers to RateCaptain.
Similarly, the exchange rate at the cryptocurrency P2P exchange appreciated, trading at a minimum of N745/$1, indicating a 0.001% increase from the N747/$1 recorded in the previous trading session.
The Investors and Exporters window closed at N461.33/$1 on Tuesday, March 7, 2023, representing a 0.01% appreciation compared to N461.50/$1 recorded in the previous trading session.
Nigeria’s external reserves stood at $36.667 billion as of March 7, 2023, representing a marginal increase from the $37.515 billion recorded as of March 6, 2023, indicating a 0.0001% increase 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 Friday, March 7, 2023, a 0.01% depreciation from N461.33/$1 recorded in the previous trading session. The opening indicative rate was N461.33/$1 on March 3, 2023. Furthermore, an exchange rate of N462.50/$1 was the highest rate recorded during intra-day trading before it settled at N461.50/$1, while it traded for as low as N446/$1 during intra-day trading. A total of $165.01 million in FX value exchanged hands at the Investors and Exporters window on Tuesday, March 7, 2023, which is 45.9% higher than the $98.60 million that was traded in the previous session