The exchange rate between the naira and the US dollar at the parallel market appreciated on Thursday, January 19, 2023, trading at an average of N744/$1.
This is according to information provided by black market dealers to RateCaptain; the naira increased in value by 0.13% in comparison to the N745/$1 recorded on Wednesday, January 19, 2023.
Likewise, the exchange rate at the cryptocurrency P2P exchange appreciated by 0.40% on Thursday morning to trade at a minimum of N752/$1, compared to N755/$1 recorded in the previous trading session.
The exchange rate at the investors and exporters (I&E) window opened at N461.25/$1 on Thursday, January 19, 2023, a 0.05% appreciation from N461.50/$1 recorded in the previous trading session. Forex turnover increased by 0.04% on Wednesday as a sum of $55.54 million exchanged hands in contrast to $55.52 million that was traded on Tuesday, January 17th, 2023.
Nigeria’s external reserves stood at $37.208 billion as of January 17, 2023, representing a marginal decrease from the $37.210 billion recorded as of January 16, 2023, indicating a 0.006% increase in the nation’s reserve level
Trading in the official NAFEX window
The exchange rate at the official market closed at N461.25/$1 on Wednesday, January 18, 2023, compared to N461.50/$1 recorded in the previous trading session. The opening indicative rate closed at N461.00/$1 on Wednesday, January 17, 2023. Furthermore, an exchange rate of N462/$1 was the highest rate recorded during intra-day trading before it settled at N461.25/1, while it traded for as low as N440/$1 during intra-day trading. A sum of $55.54 million in FX value exchanged hands at the I&E window on Tuesday, which is 0.05% higher than the $55.52 million that was traded in the previous session.
