The exchange rate between the naira and the US dollar remained stable at the black market on Monday, 21st November 2022 to close at N780/$1, the same rate recorded last week Friday.
This was according to information from black market traders who spoke to Nairametrics.
On the other hand, the naira depreciated against the US dollar on Monday at the cryptocurrency peer-to-peer market, closing at N786.99/$1, representing a depreciation of 0.896% when compared to N780/$1 that was recorded in the previous trading session.
Similarly, the naira closed against the US dollar at N445.67/$1 at the I&E window on Thursday, representing a 0.02% appreciation from N445.75/$1 recorded in the previous trading activities.
Meanwhile, FX turnover at the official market declined by 18.4% to $98.7 million on Friday, from $121 million that was traded on Thursday.
Nigeria’s external reserve improved slightly by 0.003%, to stand at $37.192 billion as of 18th November 2022 when compared to $37.191 billion recorded as of the previous day.
● Trading at the official NAFEX window
The exchange rate at the official market closed at N445.67/$1 on Friday, 18th November 2022, representing a slight increment of 0.02% from N445.75/$1 recorded in the previous trading day.
The opening indicative rate closed at N444.42/$1 on Friday, 18th November 2022.
Furthermore, an exchange rate of N447.5/$1 was the highest rate recorded during intra-day trading before it settled at N445.67/$1, while it traded as low as N439.99/$1 during intra-day trading.
A total of $98.7 million in FX value was traded at the Investors and Exporters window on Friday, which is 18.43% lower than the $121 million traded on Thursday.
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