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Naira To Dollar Exchange Rate Increases At Black Market (See Exchange Rate)

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Naira To Dollar Exchange Rate Increases At Black Market (See Exchange Rate)

Naira to dollar exchange rate has gain N5 at the black market on 24th September 2022.

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The parallel market exchange rate between the naira and the US dollar was N712/$1 on Saturday, September 24, 2022, gained ₦5 when compared to the previous trading session. This according to the information obtained from black market traders.

Similarly, the official Investors and Exporters window remained stable, closing at N436.5/$1 on Friday, September 23rd 2022, the same as the previous session.

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A total of $101.74 million was traded at the window, a decrease of 24.06% from the previous session’s total of $133.97 million. Dollar to Naira black market exchange rate at cryptocurrency. The local currency, on the other hand, depreciated further to a new record high in the cryptocurrency peer-to-peer FX market, trading at a minimum of N720.9/$1 on Saturday morning, a decline of 0.31% from N718.69/$1 at the same time on Friday. Nigeria’s external reserve stood at $38.51 billion on September 21, 2022, a 0.07% decrease from the previous day’s figure of $38.54 billion. The country’s foreign reserves have been declining as a result of the CBN’s constant intervention in the official market to keep the local currency stable.

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Trading at the NAFEX official window

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On Friday, September 23rd, 2022, the official market exchange rate closed at N436.5/$1, the same as on Wednesday, September 21st, 2022.

On Friday, September 23rd, 2022, the opening indicative rate closed at N435.08/$1, compared to N434.75/$ in the previous session.

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The highest intra-day rate recorded was N437/$1 before it settled at N436.5/$1, while it traded as low as N425/$1 during intra-day trading.

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