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

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.

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.

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

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.

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.