The exchange rate between the naira and the US dollar appreciated by 0.26% to trade at an average of N753/$1 at the black market on Monday, 24th October 2022, compared to N755/$1 recorded last week Friday.
Exchange Rates Between Naira And Dollar Today
This is according to information from black market traders who spoke to Nairametrics.
On the other hand, the naira at the cryptocurrency peer-to-peer FX market traded at a minimum of N752.79/$1 on Monday morning, representing a 0.11% depreciation when compared to N751.99/$1 it traded at the same time on Friday, 21st October, 2022.
Also, the exchange rate between the naira and the US dollar at the I&E official window fell by 0.12% to close at N441.67/$1 on Friday, 21st October 2022, when compared to N441.13/$1 recorded in the previous trading session.
Meanwhile, the FX turnover at the I&E window dipped by 36.89% to $68.51 million on Friday from $108.56 million that was traded on Thursday.
Also, Nigeria’s external reserve stood at $37.68 billion as of 20th October 2022, representing a depreciation of 0.09% decline in contrast to $37.71 billion recorded the previous day.
Trading at the official NAFEX window
The exchange rate at the official market closed at N441.67/$1 on Friday, 21st October 2022, a 0.12% depreciation from N441.13/$1 recorded in the previous trading day.
The opening indicative rate closed at N440.33/$1 on Friday, 21st October 2022.
· Furthermore, an exchange rate of N443.5/$1 was the highest rate recorded during intra-day trading before it settled at N441.67/$1, while it traded as low as N437/$1 during intra-day trading.
A total of $68.51 million in FX value was traded in the Investors and Exporters window on Friday, which is 36.89% lower than the $108.56 million traded on Thursday.
Source: Nairametrics