Naira gains at black market, trades at N738/$1 on 8th May 2023.


Naira appreciated against the US Dollar to trade at an average of N738/$1 at the black market on Monday, 8th May 2023. This represents an improvement of 0.94%, in contrast to the N745/$1 that was recorded last week Friday.

This is according to information obtained by Nairametrics from BDC traders.

The exchange rate started the year at N736/$1 and recorded its highest rate at N775/$1 on 20th February 2023 and lowest at N730/$1 on 5th January 2023.

Similarly, the exchange rate between the naira and Pound strengthened to trade at an average of N933/£1 on Monday, 8th May 2023, representing a 0.21% rise from N935/£1 recorded in the last trading session.

Likewise, naira recorded an appreciation of 0.25% against the Euro to trade at N808/€1 on Monday, 8th May 2023, compared to N810/€1 it recorded on Friday, 5th May 2023.

Meanwhile, it is worth noting that the black-market rate varies across different locations in the country where Nairametrics surveyed, time of survey, demand and supply, purchasing power etc.

Breakdown of the black-market rates is given below:

Naira/Dollar (NGN/USD)

  • Buy rate – N734/$1
  • Sell rate – N738/$1

Naira/Pound (NGN/GBP)

  • Buy rate – N912/£1
  • Sell rate – N933/£1

Naira/Euro (NGN/EUR)

  • Buy rate – N792/€1
  • Sell rate – N808/€1

However, the FX rate at the cryptocurrency P2P Exchange market depreciated by 0.38% to trade at a minimum of N745/$1, from N742.98/$1 that was recorded in the previous trading session. This is according to data culled from a P2P exchange platform.

Breakdown of the peer-to-peer rates is given below:

Naira/Dollar (NGN/USD)

  • Buy rate – N742.98 /$1
  • Sell rate – N745/$1

Exchange rate at black market trades at N745/$1 on 5th May 2023

The exchange rate between the naira and the US Dollar recorded a depreciation of 0.40% to trade at an average of N745/$1 at the black market on Friday, 5th May 2023, compared to the N742/$1 that was recorded in the previous trading session.

This is according to information obtained by Nairametrics from BDC traders.

The exchange rate started the year at N736/$1 and recorded its highest rate at N775/$1 on 20th February 2023 and lowest at N730/$1 on 5th January 2023.

Also, the rate of exchange between the naira and Pound depreciated to trade at an average of N935/£1 on Friday, 4th May 2023, a 0.32% fall from N932/£1 recorded in the previous trading session.

On the flip side, naira traded flat against the Euro at N810/€1 on Friday, 5th May 2023. This represents the same rate as recorded on Thursday, 4th May 2023.

Meanwhile, it is worth noting that the black-market rate varies across different locations in the country where Nairametrics surveyed, time of survey, demand and supply, purchasing power etc.

Breakdown of the black-market rates is given below:

Naira/Dollar (NGN/USD)

  • Buy rate – N738/$1
  • Sell rate – N745/$1

Naira/Pound (NGN/GBP)

  • Buy rate – N915/£1
  • Sell rate – N935/£1

Naira/Euro (NGN/EUR)

  • Buy rate – N800/€1
  • Sell rate – N810/€1

However, the FX rate at the cryptocurrency P2P Exchange market depreciated to trade at a minimum of N742.15/$1, a fall of 0.31% from N739.88/$1 it recorded in the previous trading session. This is according to data culled from a P2P exchange platform.

Breakdown of the peer-to-peer rates is given below:

Naira/Dollar (NGN/USD)

  • Buy rate – N741.50/$1
  • Sell rate – N742.15/$1

Naira falls against US dollar at black market on 4th May 2023, declining to N742/$1

The exchange rate between the naira and the US Dollar depreciated to trade at an average of N742/$1 at the black market on Thursday, 4th May 2023, representing a 0.40% drop from N745/$1 recorded in the previous trading session. 

This is according to information obtained by Nairametrics from BDC traders.   

The exchange rate started the year at N736/$1 and recorded its highest rate at N775/$1 on 20th February 2023 and lowest at N730/$1 on 5th January 2023. 

Likewise, naira weakened by 0.32% against the Pound to trade at an average of N932/£1 on Thursday, 4th May 2023, compared to N935/£1 it recorded in the previous trading session.  

On the other hand, the exchange rate between the naira and the Euro traded at N810/€1 on Thursday, 4th May 2023, a gain of 0.62% in contrast to N805/€1 that was recorded on Wednesday, 3rd May 2023. 

Meanwhile, it is worth noting that the black-market rate varies across different locations in the country where Nairametrics surveyed, time of survey, demand and supply, purchasing power etc. 

Breakdown of the black-market rates is given below: 

Naira/Dollar (NGN/USD) 

  • Buy rate – N738/$1 
  • Sell rate – N742/$1 

Naira/Pound (NGN/GBP) 

  • Buy rate – N915/£1 
  • Sell rate – N932/£1 

Naira/Euro (NGN/EUR) 

  • Buy rate – N797/€1 
  • Sell rate – N810/€1 

However, the FX rate at the cryptocurrency P2P Exchange market depreciated to trade at a minimum of N739.88/$1, representing a drop of 0.29% from N742/$1 that was recorded in the previous trading session. This is according to data culled from a P2P exchange platform. 

Breakdown of the peer-to-peer rates is given below: 

Naira/Dollar (NGN/USD) 

  • Buy rate – N739.61/$1 
  • Sell rate – N739.88/$1 

Naira appreciated against the US Dollar to trade at an average of N745/$1 at the black market on Wednesday, 3rd May 2023. This represents an improvement of 0.54% in contrast to N741/$1 recorded in the previous trading session.

This is according to information obtained by Nairametrics from BDC traders.

The exchange rate started the year at N736/$1 and recorded its highest rate at N775/$1 on 20th February 2023 and lowest at N730/$1 on 5th January 2023.

Similarly, the exchange rate between the naira and the Pound strengthened to trade at an average of N935/£1 on Wednesday, 3rd May 2023, an 0.21% appreciation from N933/£1 that was recorded in the previous trading session.

Meanwhile, naira traded flat against the Euro to N805/€1 on Wednesday, 3rd May 2023. This is the same rate as recorded on Tuesday, 2nd May 2023.

Meanwhile, it is worth noting that the black-market rate varies across different locations in the country where Nairametrics surveyed, time of survey, demand and supply, purchasing power etc.

Breakdown of the black-market rates is given below:

Naira/Dollar (NGN/USD)

  • Buy rate – N740/$1
  • Sell rate – N745/$1

Naira/Pound (NGN/GBP)

  • Buy rate – N915/£1
  • Sell rate – N935/£1

Naira/Euro (NGN/EUR)

  • Buy rate – N791/€1
  • Sell rate – N805/€1

However, the FX rate at the cryptocurrency P2P Exchange market appreciated to trade at a minimum of N742/$1. This represents a 0.54% gain from N738/$1 that was recorded in the previous trading session. This is according to data culled from a P2P exchange platform.

Breakdown of the peer-to-peer rates is given below:

Naira/Dollar (NGN/USD)

  • Buy rate – N741.58/$1
  • Sell rate – N742/$1

Naira weakens against US dollar at black market, dropping to N741/$1 on 2nd May 2023

The exchange rate between the naira and US Dollar recorded a depreciation of 0.14% to trade at an average of N741/$1 at the black market on Tuesday, 2nd May 2023, compared to N740/$1 recorded in the previous trading session on Friday 28th April 2023.

This is according to information obtained by Nairametrics from BDC traders.

The exchange rate started the year at N736/$1 and recorded its highest rate at N775/$1 on 20th February 2023 and lowest at N730/$1 on 5th January 2023.

On the other hand, naira improved against the Pound to trade at an average of N933/£1 on Tuesday, 2nd May 2023, representing an 0.21% appreciation in contrast to N935/£1 that was recorded in the previous trading session.

Also, the exchange rate between the naira and the Euro appreciated by 0.62% to trade at an average of N805/€1 on Tuesday, 2nd May 2023, from N810/€1 recorded on Friday, 28th April 2023.

Meanwhile, it is worth noting that the black-market rate varies across different locations in the country where Nairametrics surveyed, time of survey, demand and supply, purchasing power etc.

A breakdown of the black-market rates is given below:

Naira/Dollar (NGN/USD)

  • Buy rate – N737/$1
  • Sell rate – N741/$1

Naira/Pound (NGN/GBP)

  • Buy rate – N912/£1
  • Sell rate – N933/£1

Naira/Euro (NGN/EUR)

  • Buy rate – N791/€1
  • Sell rate – N805/€1

However, the FX rate at the cryptocurrency P2P Exchange market appreciated trading at a minimum of N738/$1, representing a gain of 0.81% from N743.99/$1 that was recorded in the previous trading session. This is according to data culled from a P2P exchange platform.

A breakdown of the peer-to-peer rates is given below:

Naira/Dollar (NGN/USD)

  • Buy rate – N737.45/$1
  • Sell rate – N738/$1

Exchange rate at black market trades flats at N740/$1 on 28th April 2023

The exchange rate between the naira and US Dollar traded flat at N740/$1 at the black market on Friday, 28th April 2023. This is the same rate as recorded in the previous trading session.

This is according to information obtained by Nairametrics from BDC traders.

The exchange rate between the naira and the US dollar has remained relatively steady at the black market, especially following the naira crunch in the Nigerian economy. The exchange rate started the year at N736/$1 and recorded its highest rate at N775/$1 on 20th February 2023 and lowest at N730/$1 on 5th January 2023.

On the other hand, naira depreciated against the Pound by 1.08% to trade at an average of N935/£1 on Friday, 28th April 2023 in contrast to N925/£1 that was recorded in the previous day’s trading session.

Also, naira fell against the Euro trading at an average of N810/€1 on Friday, 28th April 2023, representing a depreciation of 0.62% compared to N805/€1 recorded on Thursday, 27th April 2023.

Meanwhile, it is worth noting that the black-market rate varies across different locations in the country where Nairametrics surveyed, time of survey, demand and supply, purchasing power etc.

Breakdown of the black-market rates is given below:

Naira/Dollar (NGN/USD)

  • Buy rate – N738/$1
  • Sell rate – N740/$1

Naira/Pound (NGN/GBP)

  • Buy rate – N915/£1
  • Sell rate – N935/£1

Naira/Euro (NGN/EUR)

  • Buy rate – N795/€1
  • Sell rate – N810/€1

On the other hand, the FX rate at the cryptocurrency P2P Exchange market appreciated marginally by 0.06% to trade at a minimum of N743.99/$1 from N744.40/$1 it recorded in the previous trading session. This is according to data culled from a P2P exchange platform.

Breakdown of the peer-to-peer rates is given below:

Naira/Dollar (NGN/USD)

  • Buy rate – N743.25/$1
  • Sell rate – N743.99/$1

Black market exchange rate falls to N740/$1 on 27th April 2023

Naira traded against the US Dollar at an average of N740/$1 at the black market on Thursday, 27th April 2023, representing a depreciation of 0.68% compared to N735/$1 recorded in the previous trading session.

This is according to information obtained by Nairametrics from BDC traders.

The exchange rate between the naira and the US dollar has remained relatively steady at the black market, especially following the naira crunch in the Nigerian economy. The exchange rate started the year at N736/$1.

On the other hand, the exchange rate between the naira and the Pound appreciated by 0.54% to trade at an average of N925/£1 on Thursday, 27th April 2023 in contrast to N930/£1 that was recorded in the previous day’s trading session.

Also, naira strengthened against the Euro by 0.62%, trading at an average of N805/€1 on Thursday, 27th April 2023 compared to N810/€1 recorded on Wednesday, 26th April 2023.

Meanwhile, it is worth noting that the black-market rate varies across different locations in the country where Nairametrics surveyed, time of survey, demand and supply, purchasing power etc.

A breakdown of the black-market rates is given below:

Naira/Dollar (NGN/USD)

  • Buy rate – N735/$1
  • Sell rate – N740/$1

Naira/Pound (NGN/GBP)

  • Buy rate – N910/£1
  • Sell rate – N925/£1

Naira/Euro (NGN/EUR)

  • Buy rate – N792/€1
  • Sell rate – N805/€1

On the other hand, the FX rate at the cryptocurrency P2P Exchange market depreciated by 0.12% to trade at a minimum of N744.40/$1 from N743.50/$1 recorded in the previous trading session. This is according to data culled from a P2P exchange platform.

A breakdown of the peer-to-peer rates is given below:

Naira/Dollar (NGN/USD)

  • Buy rate – N743.50/$1
  • Sell rate – N744.40/$1

Black market exchange rate appreciates to N745/$1 on 28th March 2023

The exchange rate between the naira and the US dollar improved by 0.13% at the black market on Tuesday, 28th March 2023 trading at an average of N745/$1, compared to N746/$1 that was recorded in the previous trading session. 

This is according to information from black market FX operators who spoke to Nairametrics.  

On the flip side, naira recorded a marginal depreciation of 0.03% against the US dollar at the cryptocurrency P2P exchange market to trade at an average of N746.67/$1 on Tuesday morning, 28th March 2023, from N746.45/$1 recorded on Monday. 

Also, the rate of exchange between the naira and the US dollar at the official and Exporters window depreciated marginally by 0.04% to close at N461.5/$1 on Monday, 27th March 2022, as against N461.33/$1 that was recorded on Friday.  

Forex supply, however, decreased by 57.84% to $101.77 million at the official exchange on Monday, from the $241.38 million that exchanged hands on Friday. The nation’s external reserves stood at $35.74 billion as of Friday, 24th March 2023 from $35.78 billion recorded on Thursday, 23rd March 2023. 

Trading at the official NAFEX window 

The exchange rate at the official market closed at N461.5/$1 on Monday, 27th March 2023, a marginal depreciation of 0.04% from N461.33/$1 recorded on Friday, 24th March 2023. 

  • The opening indicative rate closed at N461.75/$1 on Monday, 27th March 2023. 
  • Furthermore, an exchange rate of N462.42/$1 was the highest rate recorded during intra-day trading before it settled at N461.5/$1, while it traded as low as N460/$1 during intra-day trading. 
  • A sum of $101.77 million in FX value was traded at the I&E window on Monday, which is 57.84% lower than the $241.38 million that exchanged hands in the previous session. 

Naira trades flat at N746/$1 at the black market on 27th March 2023

The exchange rate between the naira and the US dollar stabilized at the black market on Monday, 27th March 2023 to trade at an average of N746/$1. This is the same rate that was recorded in the previous trading session. 

This is according to information from black market FX operators who spoke to Nairametrics.  

On the other hand, the exchange rate between the naira and the US dollar at the cryptocurrency P2P exchange market depreciated trading at an average of N746.45/$1 on Monday morning, 27th March 2023, a downturn of 1.61% from N734.6/$1 recorded on Friday. 

Meanwhile, naira appreciated marginally by 0.07% against the US dollar at the official and Exporters window to close at N461.33/$1 on Friday, 24th March 2022, from N461.67/$1 that was recorded on Thursday.  

However, the sum of $241.38 million was traded at the official exchange on Friday, a significant increase of 201.61% from the $80.03 million that exchanged hands on Thursday. The nation’s external reserves stood at $35.78 billion as of Thursday, 23rd March 2023 from $35.81 billion recorded on Wednesday, 22nd March 2023. 

Trading at the official NAFEX window 

The exchange rate at the official market closed at N461.33/$1 on Friday, 24th March 2023, a marginal appreciation of 0.07% from N461.67/$1 recorded on Thursday, 23rd March 2023. 

  • The opening indicative rate closed at N461.5/$1 on Friday, 24th March 2023. 
  • Furthermore, an exchange rate of N462.43/$1 was the highest rate recorded during intra-day trading before it settled at N461.33/$1, while it traded as low as N460/$1 during intra-day trading. 
  • A sum of $241.38 million in FX value was traded at the I&E window on Friday, which is 201.61% higher than the $80.03 million that exchanged hands in the previous session. 

Black market exchange rate gains to trade at N746/$1 on 24th March 2023 

The exchange rate between the naira and the US dollar strengthened at the black market on Friday, 24th March 2023 to trade at an average of N746/$1, representing an uptick of 0.40% from N749/$1 that was recorded in the previous trading session. 

This is according to information from black market FX operators who spoke to Nairametrics.  

The exchange rate between the naira and the US dollar at the cryptocurrency P2P exchange market, likewise, appreciated by 1.26% trading at an average of N734.6/$1 on Friday morning, 24th March 2023, compared to N743.99/$1 recorded on Thursday. 

On the other hand, the naira recorded a marginal depreciation of 0.04% against the US dollar at the official and Exporters window to close at N461.67/$1 on Thursday, 23rd March 2022, from N461.50/$1 that was recorded on Wednesday.  

Meanwhile, the forex turnover decreased by 81.46% to $80.03 million at the official exchange on Thursday, from the $431.77 million that exchanged hands on Wednesday. The nation’s external reserves stood at $35.84 billion as of Tuesday, 21st March 2023 from $35.87 billion recorded on Monday, 20th March 2023. 

Trading at the official NAFEX window 

The exchange rate at the official market closed at N461.67/$1 on Thursday, 23rd March 2023, a marginal depreciation of 0.04% from N461.5/$1 recorded on Wednesday, 22nd March 2023. 

  • The opening indicative rate closed at N461.25/$1 on Thursday, 23rd March 2023. 
  • Furthermore, an exchange rate of N462.5/$1 was the highest rate recorded during intra-day trading before it settled at N461.67/$1, while it traded as low as N460/$1 during intra-day trading. 
  • A sum of $80.03 million in FX value was traded at the I&E window on Thursday, which is 81.46% lower than the $62.67 million that exchanged hands in the previous session. 

Naira improves against US dollar to N749/$1 on 23rd March 2023

The exchange rate between the naira and the US dollar appreciated at the black market on Thursday, 23rd March 2023 to trade at an average of N749/$1. This represents a 0.13% improvement from N750/$1 which was recorded in the previous trading session.

This is according to information from black market FX operators who spoke to Nairametrics.

Similarly, the exchange rate between the naira and the US dollar at the cryptocurrency P2P exchange market strengthened trading at an average of N743.99/$1 on Thursday morning, 23rd March 2023, an 0.13% appreciation from N744.95/$1 recorded on Wednesday.

Likewise, the naira appreciated by 0.11%against the US dollar at the official and Exporters window to close at N461.5/$1 on Wednesday, 22nd March 2022, compared to N462/$1 that was recorded on Tuesday.

Notably, the sum of $431.77 million was transacted at the official exchange on Wednesday, this is a significant increase of 588.96% from the $62.67 million that exchanged hands on Tuesday. The nation’s external reserves stood at $35.84 billion as of Tuesday, 21st March 2023 from $35.87 billion recorded on Monday, 20th March 2023.

Trading at the official NAFEX window

The exchange rate at the official market closed at N461.5/$1 on Wednesday, 22nd March 2023, an appreciation of 0.11% from N462/$1 recorded on Tuesday, 21st March 2023.

  • The opening indicative rate closed at N461.56/$1 on Wednesday, 22nd March 2023.
  • Furthermore, an exchange rate of N544.5/$1 was the highest rate recorded during intra-day trading before it settled at N461.5/$1, while it traded as low as N460/$1 during intra-day trading.
  • A sum of $ 431.77 million in FX value was traded at the I&E window on Wednesday, which is 5888.96% higher than the $ 62.67 million that exchanged hands in the previous session.

Black market exchange rate depreciates to N750/$1 on 22nd March 2023

The exchange rate between the naira and the US dollar weakened the black market on Wednesday, 22nd March 2023 to trade at an average of N750/$1, representing a fall of 0.27% from N748/$1 that was recorded in the previous trading session.

This is according to information from black market FXoperators who spoke to Nairametrics.

Similarly, the rate of exchange between the naira and the US dollar at the cryptocurrency P2P exchange market depreciated marginally by 0.06% to trade at an average of N744.95/$1 on Wednesday morning, 22nd March 2023, from N744.5/$1 recorded on Tuesday.

Also, the naira depreciated against the US dollar at the official and Exporters window to close at N462/$1 on Tuesday, 21st March 2022, a 0.11% downturn from N461.5/$1 that was recorded on Monday.

However, forex turnover decreased by 50.13% to $62.67 million at the official exchange on Tuesday, from the $125.66 million that was exchanged hands on Monday. The nation’s external reserves stood at $ 35.87 billion as of Monday, 20th March 2023 from $ 35.98 billion recorded on Friday, 17th March 2023.

Trading at the official NAFEX window

The exchange rate at the official market closed at N462/$1 on Tuesday, 21st March 2023, a depreciation of 0.11% from N461.5/$1 recorded on Monday, 20th March 2023.

  • The opening indicative rate closed atN461.55/$1on Tuesday, 21st March 2023.
  • Furthermore, an exchange rate of N551/$1 was the highest rate recorded during intra-day trading before it settled at N462/$1, while it traded as low as N460/$1 during intra-day trading.
  • A sum of $ 62.67 million in FX value was traded at the I&E window on Tuesday, which is50.13%lower than the $ 125.66 million that exchanged hands in the previous session.

Naira improves to N748/$1 at black market on 21st March 2023 

The exchange rate between the naira and the US dollar appreciated at the black market on Tuesday, 21st March 2023 to trade at an average of N748/$1. This represents an upturn of 0.40% from N751/$1 that was recorded in the previous trading session. 

This is according to information from black market FX operators who spoke to Nairametrics.  

Similarly, the local currency recorded a marginal appreciation of 0.07% against the US dollar at the official and Exporters window to close at N461.5/$1 on Monday, 20th March 2022, compared to N461.83/$1 that was recorded on Wednesday.  

On the other hand, the exchange rate between the naira and the US dollar at the cryptocurrency P2P exchange market depreciated to trade at an average of N744.5/$1 on Tuesday morning, 21st March 2023, a fall of 0.16% from N743.29/$1 recorded on Monday. 

Forex supply, however, increased by 43.10% to $125.66 million at the official exchange on Monday, from the $87.81 million that was traded on Friday. The nation’s external reserves stood at $35.98 billion as of Friday, 17th March 2023 from $36.02 billion recorded on Thursday, 16th March 2023. 

Trading at the official NAFEX window 

The exchange rate at the official market closed at N461.5/$1 on Monday, 20th March 2023, a marginal appreciation of 0.07% from N461.83/$1 recorded on Friday, 17th March 2023. 

  • The opening indicative rate closed at N461.38/$1 on Monday, 20th March 2023. 
  • Furthermore, an exchange rate of N551/$1 was the highest rate recorded during intra-day trading before it settled at N461.5/$1, while it traded as low as N460/$1 during intra-day trading. 
  • A sum of $125.66 million in FX value was traded at the I&E window on Friday, which is 43.10% higher than the $87.81 million that exchanged hands in the previous session. 

Black market exchange rate depreciates to N751/$1 on 20th March 2023 

The exchange rate between the naira and the US dollar weakened at the black market on Monday, 20th March 2023 to trade at an average of N751/$1, representing a fall of 0.13% from N750/$1 that was recorded in the previous trading session. 

This is according to information from black market FX operators who spoke to Nairametrics.  

On the flip side, the exchange rate between the naira and the US dollar at the cryptocurrency P2P exchange market recorded a marginal improvement of 0.07% trading at an average of N743.29/$1 on Monday morning, 20th March 2023 as against N743.8/$1 it recorded on Friday 

Also, naira appreciated marginally by 0.04% against the US dollar at the official and Exporters window to close at N461.83/$1 on Friday, 17th March 2022, from N462/$1 that was recorded on Thursday.  

However, the sum of $87.81 million was transacted at the official exchange on Friday, a decrease of 10.20% from the $97.78 million that exchanged hands on Thursday. The nation’s external reserves stood at $36.02 billion as of Thursday, 16th March 2023 from $36.08 billion recorded on Wednesday, 15th March 2023. 

Trading at the official NAFEX window 

The exchange rate at the official market closed at N461.83/$1 on Friday, 17th March 2023, a marginal appreciation of 0.04% from N462/$1 recorded on Thursday, 16th March 2023. 

  • The opening indicative rate closed at N461.3/$1 on Friday, 17th March 2023. 
  • Furthermore, an exchange rate of N462.24/$1 was the highest rate recorded during intra-day trading before it settled at N461.83/$1, while it traded as low as N460/$1 during intra-day trading. 
  • A sum of $87.81 million in FX value was traded at the I&E window on Thursday, which is 10.20% lower than the $97.78 million that exchanged hands in the previous session. 

Naira gains at the black market to trade at N750/$1 on 17th March 2023

The exchange rate between the naira and the US dollar strengthened at the black market on Friday, 17th March 2023 to trade at an average of N750/$1. This represents a gain of 0.66% from N755/$1 that was recorded in the previous trading session. 

This is according to information from black market FX operators who spoke to Nairametrics.  

Similarly, the rate of exchange between the naira and the US dollar at the cryptocurrency P2P exchange market appreciated marginally by 0.03% to trade at an average of N743.8/$1 on Friday morning, 17th March 2023 compared to N744/$1 recorded on Thursday 

On the other hand, the nation’s currency depreciated against the US dollar at the official and Exporters window to close at N462/$1 on Thursday, 16th March 2022, a fall of 0.2% from N461.09/$1 that was recorded on Wednesday.  

However, the forex turnover decreased by 31.26% to $97.78 million at the official exchange on Thursday, from the $142.25 million that exchanged hands on Wednesday. The nation’s external reserves stood at $36.08 billion as of Wednesday, 15th March 2023 from $36.14 billion recorded on Tuesday, 14th March 2023. 

Trading at the official NAFEX window 

The exchange rate at the official market closed at N462/$1 on Thursday, 16th March 2023, a depreciation of 0.2% from N461.09/$1 recorded on Wednesday, 15th March 2023. 

  • The opening indicative rate closed at N461.5/$1 on Thursday, 16th March 2023. 
  • Furthermore, an exchange rate of N462.11/$1 was the highest rate recorded during intra-day trading before it settled at N462/$1, while it traded as low as N446/$1 during intra-day trading. 
  • A sum of $97.78 million in FX value was traded at the I&E window on Wednesday, which is 31.26% lower than the $142.25 million that exchanged hands in the previous session. 

Naira falls against the US dollar to N755/$1 at the black market on 16th March 2023

The exchange rate between the naira and the US dollar depreciated at the black market on Thursday, 16th March 2023 to trade at an average of N755/$1, representing a downturn of 0.40% from N752/$1 that was recorded in the previous trading session.

This is according to information from black market FX operators who spoke to Nairametrics.

In the same vein, naira fell against the US dollar at the cryptocurrency P2P exchange market, to trade at an average of N744/$1 on Thursday morning, 16th March 2023 compared to N742.2/$1 recorded on Wednesday

On the flip side, the exchange rate between the naira and the US dollar appreciated marginally by 0.07% at the official and Exporters window to close at N461.09/$1 on Wednesday, 15th March 2022 from N461.42/$1 that was recorded on Tuesday.

Meanwhile, the forex supply increased by 25.40% to $142.25 million at the official exchange on Wednesday, from the $113.44 million that exchanged hands on Tuesday. The nation’s external reserves stood at $36.14 billion as of Tuesday, 14th March 2023 from $36.20 billion recorded on Monday, 10th March 2023.

Trading at the official NAFEX window

The exchange rate at the official market closed at N461.09/$1 on Wednesday, 15th March 2023, a marginal appreciation of 0.07% from N461.42/$1 recorded on Tuesday, 14th March 2023.

  •  The opening indicative rate closed at N461.3/$1 on Wednesday, 15th March 2023.
  • Furthermore, an exchange rate of N462.11/$1 was the highest rate recorded during intra-day trading before it settled at N461.09/1, while it traded as low as N446/$1 during intra-day trading.
  • A sum of $142.25 million in FX value was traded at the I&E window on Tuesday, which is 25.40% higher than the $113.44 million that exchanged hands in the previous session.

Exchange rate strengthens to N752/$1 at the black market on 15th March 2023

The exchange rate between the naira and the US dollar appreciated at the black market on Wednesday, 15th March 2023 to trade at an average of N752/$1, representing an improvement of 1.05% from N760/$1 that was recorded in the previous trading session. 

This is according to information from black market FX operators who spoke to Nairametrics.  

Similarly, the nation’s currency appreciated marginally by 0.05% against the US dollar at the official and Exporters window to close at N461.42/$1 on Tuesday, 14th March 2022 from N461.67/$1 that was recorded on Monday. 

The exchange rate between the naira and the US dollar at the cryptocurrency P2P exchange market, on the other hand, recorded a marginal depreciation trading at an average of N742.2/$1 on Wednesday morning, 15th March 2023 compared to N741.93/$1 recorded on Tuesday.  

The sum of $113.44 million was transacted at the official exchange on Tuesday, which is an increase of 46.11% from the $77.64 million that exchanged hands on Monday. The nation’s external reserves stood at $36.20 billion as of Monday, 13th March 2023 from $36.39 billion recorded on Friday, 10th March 2023. 

Trading at the official NAFEX window 

The exchange rate at the official market closed at N461.42/$1 on Tuesday, 14th March 2023, a marginal appreciation of 0.05% from N461.67/$1 recorded on Monday, 13th March 2023. 

  • The opening indicative rate closed at N461.55/$1 on Tuesday, 14th March 2023. 
  • Furthermore, an exchange rate of N462.18/$1 was the highest rate recorded during intra-day trading before it settled at N461.42/1, while it traded as low as N446/$1 during intra-day trading. 
  • A sum of $113.44 million in FX value was traded at the I&E window on Monday, which is 46.11% higher than the $77.64 million that exchanged hands in the previous session. 

Black market exchange rate depreciates to N760/$1 on 14th March 2023

The exchange rate between the naira and the US dollar depreciated at the black market on Tuesday, 14th March 2023 to trade at an average of N760/$1. This represents a drop of 0.66% from N755/$1 that was recorded in the previous trading session. 

This is according to information from black market FX operators who spoke to Nairametrics.  

On the flip side, the exchange rate between naira and the US dollar at the cryptocurrency P2P exchange market appreciated to trade at an average of N741.96/$1 on Tuesday morning, 14th March 2023, a 0.44% improvement from N745.23/$1 recorded on Monday.  

Meanwhile, the local currency depreciated marginally by 0.04% against the US dollar at the official Investors and Exporters window to close at N461.67/$1 on Monday, 13th March 2022 compared to N461.5/$1 was recorded on Friday. 

The sum of $77.64 million was transacted at the official exchange on Monday, which is 5.96% lesser than the $82.56 million that exchanged hands on Friday. The nation’s external reserves stood at $36.39 billion as of Friday, 10th March 2023 from $36.41 billion recorded on Thursday, 9th March 2023. 

Trading at the official NAFEX window 

The exchange rate at the official market closed at N461.67/$1 on Monday, 13th March 2023, a marginal depreciation of 0.04% from N461.5/$1 recorded on Friday, 10th March 2023. 

  • The opening indicative rate closed at N461.5/$1 on Monday, 13th March 2023. 
  • Furthermore, an exchange rate of N462.5/$1 was the highest rate recorded during intra-day trading before it settled at N461.67/1, while it traded as low as N445.96/$1 during intra-day trading. 
  • A sum of $77.64 million in FX value was traded at the I&E window on Friday, which is 5.96% lower than the $82.56 million that exchanged hands in the previous session. 

Naira falls to N755/$1 at black market on 13th March 2023

The naira weakened marginally against the US dollar at the black market on Monday, 13th March 2023 to trade at an average of N755/$1, representing an 0.13% depreciation from N754/$1 that was recorded in the previous trading session. 

This is according to information from black market FX operators who spoke to Nairametrics.  

Also, the exchange rate between the naira and the US dollar depreciated marginally at the official Investors and Exporters window to close at N461.5/$1 on Friday, 10th March 2023, a 0.11% downturn from N461/$1 that was recorded on Thursday. 

On the other hand, the exchange rate between naira and the US dollar at the cryptocurrency P2P exchange market appreciated marginally by 0.08% to trade at an average of N745.23/$1 on Monday morning, 13th March 2023, from N745.8/$1 recorded on Friday. 

Meanwhile, the forex turnover decreased by 0.33% to $82.56 million at the official exchange on Friday, from the $82.83 million that exchanged hands on Thursday. The nation’s external reserves stood at $36.41 billion as of Thursday, 9th March 2023 from $36.44 billion recorded on Wednesday, 8th March 2023. 

Trading at the official NAFEX window 

The exchange rate at the official market closed at N461.5/$1 on Friday, 10th March 2023, an 0.11% depreciation from N461/$1 recorded on Thursday, 9th March 2023. 

  • The opening indicative rate closed at N461.5/$1 on Friday, 10th March 2023. 
  • Furthermore, an exchange rate of N462.44/$1 was the highest rate recorded during intra-day trading before it settled at N461.5/1, while it traded as low as N446/$1 during intra-day trading. 
  • A sum of $82.56 million in FX value was traded at the I&E window on Friday, which is 0.33% lower than the $82.56 million that exchanged hands in the previous session.

Black market exchange rate depreciates to N754/$1 on 10th March 2023

The exchange rate between the naira and the US dollar depreciated at the black market on Friday, 10th March 2023 to trade at an average of N754/$1. This represents a downturn of 0.53% from N750/$1 recorded in the previous trading session. 

This is according to information from black market FX operators who spoke to Nairametrics.  

Similarly, the naira fell against the US dollar at the cryptocurrency P2P exchange market to trade at an average of N745.8/$1 on Friday morning, 10th March 2023, an 0.25% depreciation from N743.93/$1 recorded on Thursday. 

On the flip side, the exchange rate between the naira and the US dollar appreciated marginally by 0.05% at the official Investors and Exporters window to close at N461/$1 on Thursday, 9th March 2023, compared to N461.25/$1 that was recorded on Wednesday. 

However, a sum of $82.83 million was transacted at the official exchange on Thursday, recording a decrease of 28.34% from the $115.58 million that exchanged hands on Wednesday. The nation’s external reserves stood at $36.44 billion as of Wednesday, 8th March 2023 from $36.47 billion recorded on Tuesday, 7th March 2023. 

Trading at the official NAFEX window 

The exchange rate at the official market closed at N461/$1 on Thursday, 9th March 2023, an 0.05% appreciation from N461.25/$1 recorded on Wednesday, 8th March 2023. 

  • The opening indicative rate closed at N461.25/$1 on Thursday, 9th March 2023. 
  • Furthermore, an exchange rate of N462.11/$1 was the highest rate recorded during intra-day trading before it settled at N461/1, while it traded as low as N446/$1 during intra-day trading. 
  • A sum of $82.83 million in FX value was traded at the I&E window on Thursday, which is 28.34% lower than the $115.58 million that exchanged hands in the previous session. 

Naira trades flat to N750/$1 at black market on 9th March 2023

The exchange rate between the naira and the US dollar traded flat at the black market on Thursday, 9th March 2023 to trade at an average of N750/$1, same rate it recorded in the previous trading session. 

This is according to information from black market FX operators who spoke to Nairametrics.  

Meanwhile, the naira weakened against the US dollar at the cryptocurrency P2P exchange market to trade at an average of N743.93/$1 on Thursday morning, 9th March 2023, a depreciation of 0.67% from N738.99/$1 recorded on Wednesday. 

The exchange rate between the naira and the US dollar on the other hand, appreciated marginally by 0.05% at the official Investors and Exporters window to close at N461.25/$1 on Wednesday, 8th March 2023, compared to N461.5/$1 that was recorded on Tuesday. 

However, a sum of $115.58 million was transacted at the official exchange on Wednesday, recording a decrease of 29.96% from the $165.01 million that exchanged hands on Tuesday. The nation’s external reserves stood at $36.47 billion as of Tuesday, 7th March 2023 from $36.52 billion recorded on Monday, 6th March 2023. 

Trading at the official NAFEX window 

The exchange rate at the official market closed at N461.25/$1 on Wednesday, 8th March 2023, an 0.05% appreciation from N461.5/$1 recorded on Tuesday, 7th March 2023. 

  • The opening indicative rate closed at N461.3/$1 on Wednesday, 8th March 2023. 
  • Furthermore, an exchange rate of N462.5/$1 was the highest rate recorded during intra-day trading before it settled at N461.25/1, while it traded as low as N446/$1 during intra-day trading. 
  • A sum of $115.58 million in FX value was traded at the I&E window on Wednesday, which is 29.96% lower than the $165.01 million that exchanged hands in the previous session. 

Black market exchange rate depreciates to N750/$1 on 8th March 2023

The exchange rate between the naira and the US dollar depreciated at the black market on Wednesday, 8th March 2023 to trade at an average of N750/$1, representing a marginal drop of 0.27% from N748/$1 that was recorded in the previous trading session. 

This is according to information from black market FX operators who spoke to Nairametrics.  

Similarly, the exchange rate between the naira and the US dollar at the cryptocurrency P2P exchange market weakened to trade at an average of N738.99/$1 on Wednesday morning, 8th March 2023, an 0.40% depreciation from N736.06/$1 recorded on Tuesday. 

Also, the naira appreciated marginally by 0.04% against the US dollar at the official Investors and Exporters window to close at N461.5/$1 on Tuesday, 7th March 2023, from N461.33/$1 that was recorded on Monday. 

Forex turnover however increased by 52.77% to $165.01 million at the official exchange on Tuesday, compared to the $108.01 million that exchanged hands on Monday. The nation’s external reserves stood at $36.52 billion as of Monday, 6th March 2023 from $36.61 billion recorded on Friday, 3rd March 2023. 

Trading at the official NAFEX window 

The exchange rate at the official market closed at N461.5/$1 on Tuesday, 7th March 2023, an 0.04% depreciation from N461.33/$1 it recorded on Monday, 6th March 2023. 

  • The opening indicative rate closed at N461.33/$1 on Tuesday, 7th March 2023. 
  • Furthermore, an exchange rate of N462.5/$1 was the highest rate recorded during intra-day trading before it settled at N461.5/1, while it traded for as low as N446/$1 during intra-day trading. 
  • A sum of $165.01 million in FX value was traded at the I&E window on Tuesday, which is 52.77% higher than the $108.01 million that exchanged hands in the previous session. 

Naira improves marginally at black market to N748/$1 on 7th March 2023

The exchange rate between the naira and the US dollar appreciated marginally by 0.27% at the black market on Tuesday, 7th March 2023 to trade at an average of N748/$1, from N750/$1 that was recorded in the previous trading session. 

This is according to information from black market FX operators who spoke to Nairametrics.  

Similarly, the naira appreciated marginally against the US dollar at the official Investors and Exporters window by 0.09% to close at N461.33/$1 on Monday, 6th March 2023, compared to N461.75/$1 that it closed at Friday. 

Also, the exchange rate between the naira and the US dollar at the cryptocurrency P2P exchange market improved to trade at an average of N736.06/$1 on Tuesday morning, 7th March 2023. This represents an appreciation of 0.37% from N738.78/$1 recorded on Monday. 

Forex turnover however increased by 59.85% to $108.01 million at the official exchange on Monday, compared to the $67.57 million that exchanged hands on Friday. The nation’s external reserves stood at $36.67 billion as of Monday, 6th March 2023 from $36.61 billion recorded on Friday, 3rd March 2023. 

Trading at the official NAFEX window 

The exchange rate at the official market closed at N461.33/$1 on Monday, 6th March 2023, an 0.09% appreciation from N461.75/$1 it recorded on Friday, 3th March 2023. 

  • The opening indicative rate closed at N461.5/$1 on Monday, 6th March 2023. 
  • Furthermore, an exchange rate of N462.32/$1 was the highest rate recorded during intra-day trading before it settled at N461.33/1, while it traded for as low as N446/$1 during intra-day trading. 
  • A sum of $108.01 million in FX value was traded at the I&E window on Monday, which is 59.85% higher than the $67.57 million that exchanged hands in the previous session. 

Exchange rate at black market strengthens to N760/$1 on 6th March 2023

The naira appreciated against the US dollar at the black market on Monday, 6th March 2023 to trade at an average of N760/$1, representing an uptrend of 1.05% from N768/$1 it recorded in the previous trading session. 

This is according to information from black market FX operators who spoke to Nairametrics.  

On the flip side, the exchange rate between the naira and the US dollar at the cryptocurrency P2P exchange market weakened by 0.18% to trade at an average of N741/$1 on Friday morning, 3rd March 2023, as against N739.7/$1 recorded on Thursday. 

Similarly, the rate of exchange between the naira and the US dollar depreciated marginally against the US dollar at the official Investors and Exporters window to close at N461.4/$1 on Thursday, 2nd March 2023, from N461.35/$1 recorded on Wednesday. 

However, forex turnover decreased by 2.19% to $96.44 million at the official exchange on Thursday, from the $98.6 million that was transacted on Wednesday. The nation’s external reserves stood at $36.66 billion as of Wednesday, 1st March 2023 from $36.67 billion recorded on Tuesday, 28th February 2023. 

Trading at the official NAFEX window 

The exchange rate at the official market closed at N461.4/$1 on Thursday, 2nd March 2023, an 0.01% depreciation from N461.35/$1 it recorded on Wednesday, 1st March 2023. 

  • The opening indicative rate closed at N461.5/$1 on Thursday, 2nd March 2023. 
  • Furthermore, an exchange rate of N462/$1 was the highest rate recorded during intra-day trading before it settled at N461.4/1, while it traded for as low as N446/$1 during intra-day trading. 
  • A sum of $96.44 million in FX value was traded at the I&E window on Thursday, which is 2.19% lower than the $98.6 million that exchanged hands in the previous session. 

Black market exchange rate depreciates to N768/$1 on 2nd March 2023 

The exchange rate between the naira and the US dollar at the black market weakened by 1.05% on Thursday, 2nd March 2023 to trade at an average of N768/$1, a downturn from N760/$1 it recorded in the previous trading session. 

This is according to information from black market FX operators who spoke to Nairametrics.  

On the other hand, the exchange rate between the naira and the US dollar at the cryptocurrency P2P exchange market recorded an improvement of 0.84% to trade at an average of N739.7/$1 on Thursday morning, 2nd March 2023, when compared to N745.98/$1 recorded on Wednesday. 

Also, the naira appreciated against the US dollar at the official Investors and Exporters window to close at N461.35/$1 on Wednesday, 1st March 2023, representing a marginal increase of 0.14% from N462/$1 recorded on Tuesday. 

However, forex turnover increased by 105.03% to $98.60 million at the official exchange on Wednesday, from the $48.09 million that exchanged hands on Tuesday.  

Trading at the official NAFEX window 

The exchange rate at the official market closed at N461.35/$1 on Wednesday, 1st March 2023, an 0.14% appreciation from N462/$1 it recorded on Tuesday, 28th February 2023. 

  • The opening indicative rate closed at N461.17/$1 on Wednesday, 1st March 2023. 
  • Furthermore, an exchange rate of N462.5/$1 was the highest rate recorded during intra-day trading before it settled at N461.35/1, while it traded for as low as N446/$1 during intra-day trading. 
  • A sum of $98.60 million in FX value was traded at the I&E window on Wednesday, which is 105.03% higher than the $48.09 million that exchanged hands in the previous session. 

Naira remains stable at N760/$1 on black market amid Bola Tinubu’s emergence as President-elect

The exchange rate between the naira and the US dollar at the black market remained flat on Wednesday, 1st March 2023 to trade at an average of N760/$1, the same rate as recorded in the previous trading session. 

This is according to information from black market FX operators who spoke to Nairametrics.  

Also, the exchange rate between the naira and the US dollar at the official Investors and Exporters window closed at N462/$1 on Tuesday, 28th February 2023. This is the same rate it recorded on Monday. 

Meanwhile, the nation’s currency appreciated against the US dollar at the cryptocurrency P2P exchange market to trade at an average of N745.98/$1 on Wednesday morning, 1st March 2023, representing an improvement of 0.60% compared to N750.5/$1 recorded on Tuesday. 

However, a sum of $48.09 million was transacted at the official exchange on Tuesday, which is lower by 11.55%, from the $54.37 million that exchanged hands on Monday. The nation’s external reserves stood at $36.679 billion as of Monday, 27th February 2023 from $36.698 billion recorded on Friday, 24th February 2023. 

Trading at the official NAFEX window 

The exchange rate at the official market closed at N462/$1 on Tuesday, 28th February 2023, the same rate it recorded on Monday, 27th February 2023. 

  • The opening indicative rate closed at N461.33/$1 on Tuesday, 28th February 2023. 
  • Furthermore, an exchange rate of N462.5/$1 was the highest rate recorded during intra-day trading before it settled at N462/1, while it traded for as low as N446/$1 during intra-day trading. 
  • A sum of $48.09 million in FX value was traded at the I&E window on Tuesday, which is 11.55% lower than the $54.37 million that exchanged hands in the previous session. 

Black market exchange rate falls to N760/$1 on 28th February 2023

The exchange rate between the naira and the US dollar at the black market depreciated on Tuesday, 28th February 2023 by 0.26% to trade at an average of N760/$1, from N758/$1 recorded in the previous trading session. 

This is according to information from black market FX operators who spoke to Nairametrics.  

In the same vein, the naira depreciated marginally against the US dollar at the cryptocurrency P2P exchange market to trade at an average of N750.5/$1 on Tuesday morning, 28th February 2023, an 0.08% downturn from N749.88/$1 recorded on Monday. 

Likewise, the exchange rate between the naira and the US dollar at the official Investors and Exporters window fell by 0.18% to close at N462/$1 on Monday, 27th February 2023 compared to N461.17/$1 recorded on Friday.  

Forex turnover, however, decreased by 64.53% to $54.37 million at the official exchange on Monday, from the $153.3 million that was transacted last week Friday. The nation’s external reserves stood at $36.698 billion as of Friday, 24th February 2023 from $36.707 billion recorded on Thursday, 23rd February 2023. 

Trading at the official NAFEX window 

The exchange rate at the official market closed at N462/$1 on Monday, 27th February 2023, a 0.18% depreciation from N461.17/$1 recorded on Friday, 24th February 2023. 

  • The opening indicative rate closed at N461.35/$1 on Monday, 27th February 2023. 
  • Furthermore, an exchange rate of N462.05/$1 was the highest rate recorded during intra-day trading before it settled at N462/1, while it traded for as low as N446/$1 during intra-day trading. 
  • A sum of $54.37 million in FX value was traded at the I&E window on Monday which is 64.53% lower than the $153.3 million that exchanged hands in the previous session. 

Black market exchange appreciates to N758/$1 on 27th February 2023

The exchange rate between the naira and the US dollar strengthened on Monday, 27th February 2023 at the black market to trade at an average of N758/$1, representing an appreciation of 0.26% from N760/$1 recorded in the previous trading session. 

This is according to information from black market FX operators who spoke to Nairametrics.  

Similarly, the exchange rate at the cryptocurrency P2P exchange market between the naira and the US dollar appreciated to trade at an average of N749.88/$1 on Monday morning, 27th February 2023, representing a 0.19% improvement compared to N751.3/$1 recorded on Friday. 

Also, the naira appreciated marginally against the US dollar at the official Investors and Exporters window by 0.03% to close at N461.17/$1 on Friday, 24th February 2023 from N461.33/$1 recorded on Thursday.  

A sum of $153.3 million was transacted at the official exchange on Friday, from the $110.27 million that exchanged hands on Thursday, an increase of 39.02%. The nation’s external reserves stood at $36.71 billion as of Thursday, 23rd February 2023 from $36.72 billion recorded on Tuesday, 21st February 2023. 

Trading at the official NAFEX window 

The exchange rate at the official market closed at N461.17/$1 on Friday, 24th February 2023, a 0.03% appreciation from N461.33/$1 recorded on Thursday, 23rd February 2023. 

  • The opening indicative rate closed at N461.25/$1 on Friday, 24th February 2023. 
  • Furthermore, an exchange rate of N462.03/$1 was the highest rate recorded during intra-day trading before it settled at N461.17/1, while it traded for as low as N446/$1 during intra-day trading. 
  • A sum of $153.3 million in FX value was traded at the I&E window on Friday which is 39.02% higher than the $110.27 million that exchanged hands in the previous session. 

Naira improves at the black market to N760/$1 on 24th February 2023

The exchange rate between the naira and the US dollar appreciated on Friday, 24th February 2023 at the black market to trade at an average of N760/$1. This represents a 0.65% improvement compared to N765/$1 recorded in the previous trading session. 

This is according to information from black market FX operators who spoke to Nairametrics.  

Also, the exchange rate at the official Investors and Exporters window appreciated marginally by 0.06% to close at N461.33/$1 on Thursday, 23rd February 2023 from N461.6/$1 recorded on Wednesday.  

Similarly, naira appreciated against the US dollar at the cryptocurrency P2P exchange market, trading at an average of N751.3/$1 on Friday morning, 24th February 2023, representing a 0.37% uptick compared to N754.1/$1 recorded on Thursday. 

Forex turnover increased by 34.56% to $110.27 million at the official exchange on Thursday, from the $81.95 million that exchanged hands on Wednesday. The nation’s external reserves, stood at $36.72 billion as of Tuesday, 21st February 2023 from $36.73 billion recorded the previous day. 

Trading at the official NAFEX window 

The exchange rate at the official market closed at N461.33/$1 on Thursday, 23rd February 2023, a 0.06% appreciation from N461.33/$1 recorded on Wednesday, 22nd February 2023. 

  • The opening indicative rate closed at N461.3/$1 on Thursday, 23rd February 2023. 
  • Furthermore, an exchange rate of N462/$1 was the highest rate recorded during intra-day trading before it settled at N461.33/1, while it traded for as low as N461.33/$1 during intra-day trading. 
  • A sum of $110.27 million in FX value was traded at the I&E window on Thursday which is 34.56% higher than the $81.95 million that exchanged hands in the previous session. 

Black market exchange rate depreciates further to N765/$1 on 23rd February 2023

Naira depreciated against the US dollar on Thursday, 23rd February 2023 at the black market to trade at an average of N765/$1, representing a 0.39% depreciation from N762/$1 recorded in the previous trading session. 

The exchange rate has remained unstable due to decline in trading activities amidst cash crunch and downtime in banking applications. This is according to information from black market FX operators who spoke to Nairametrics.  

Similarly, the exchange rate between the naira and the US dollar fell further by 0.13% at the cryptocurrency P2P exchange market, trading at an average of N754.1/$1 on Thursday morning, 23rd February 2023, compared to N753.13/$1 recorded on Wednesday. 

Also, the exchange rate at the official Investors and Exporters window depreciated marginally by 0.06% to close at N461.6/$1 on Wednesday, 22nd February 2023 against N461.33/$1 recorded on Tuesday. 

Meanwhile, a sum of $81.95 million was transacted at the official exchange, representing an increase of 69.74% on Wednesday, from the $48.28 million that exchanged hands on Tuesday. The nation’s external reserves, fell for the seventh consecutive day to $36.72 billion on Tuesday from $36.73 billion, bringing the cumulative decline for the month of February to $272.12 million. 

Trading at the official NAFEX window 

The exchange rate at the official market closed at N461.6/$1 on Wednesday, 22nd February 2023, a 0.06% depreciation from N461.33/$1 recorded on Tuesday, 21st February 2023. 

  • The opening indicative rate closed at N461.35/$1 on Wednesday, 22nd February 2023. 
  • Furthermore, an exchange rate of N462.01/$1 was the highest rate recorded during intra-day trading before it settled at N461.6/1, while it traded for as low as N446/$1 during intra-day trading. 
  • A sum of $81.95 million in FX value was traded at the I&E window on Wednesday which is 69.74% higher than the $48.28 million that exchanged hands in the previous session. 

Naira falls to N762/$1 at the black market on 22nd February 2023 

The exchange rate between the naira and the US dollar depreciated marginally by 0.26% on Wednesday, 22nd February 2023 to trade at an average of N762/$1, from N760/$1 recorded in the previous trading session. 

The exchange rate is highly volatile as traders have reduced trading activities due to banking app downtime and lack of cash. This is according to information from black market FX operators who spoke to Nairametrics.  

Also, the exchange rate between the naira and the US dollar depreciated marginally at the cryptocurrency P2P exchange market trading at an average of N753.13/$1 on Wednesday morning, 22nd February 2023, against N753.1/$1 recorded on Tuesday. 

On the other hand, naira appreciated marginally against the US dollar at the investors and exporters (I&E) window to close at N461.33/$1 on Tuesday, 21st February 2023 compared to N461.5/$1 recorded on Monday. 

A sum of $48.28 million was transacted at the official exchange, recording an increase of 19.86% on Tuesday, against the $40.28 million that exchanged hands on Monday. The nation’s external reserves likewise, declined further for the sixth consecutive day to $36.73 billion on Monday from $36.76 billion. 

Trading at the official NAFEX window 

The exchange rate at the official market closed at N461.33/$1 on Tuesday, 21st February 2023, a 0.04% appreciation from N461.5/$1 recorded on Monday, 20th February 2023. 

  • The opening indicative rate closed at N461.55/$1 on Tuesday, 21st February 2023. 
  • Furthermore, an exchange rate of N462.41/$1 was the highest rate recorded during intra-day trading before it settled at N461.33/1, while it traded for as low as N406.75/$1 during intra-day trading.
  • A sum of $48.28 million in FX value was traded at the I&E window on Tuesday which is 19.86% higher than the $40.28 million that exchanged hands in the previous session. 

Naira appreciates to N760/$1 at the black market on 21st February 2023

The exchange rate between the naira and the US dollar strengthened on Tuesday, 20th February 2023 to trade at an average of N760/$1, representing a 1.94% appreciation compared to N775/$1 recorded in the previous trading session. 

The exchange rate is highly volatile as traders have reduced trading activities due to banking app downtime and lack of cash. This is according to information from black market FX operators who spoke to Nairametrics.  

On the flip side, naira depreciated marginally against the US dollar at the investors and exporters (I&E) window to close at N461.5/$1 on Monday, 20th February 2023 compared to N461.25/$1 recorded on Friday. 

Also, the exchange rate between the naira and the US dollar weakened by 0.03% at the cryptocurrency P2P exchange market trading at an average of N753.1/$1 on Tuesday morning, 21st February 2023,  against N752.9/$1 recorded on Monday. 

Forex turnover however decreased by 50.75% at the official exchange to $40.28 million on Monday, against the $81.78 million that exchanged hands last week Friday. The nation’s external reserves likewise, declined further for the fifth consecutive day to $36.76 billion on Friday from $36.78 billion. 

Trading at the official NAFEX window 

The exchange rate at the official market closed at N461.5/$1 on Monday, 20th February 2023, a 0.05% depreciation from N461.25/$1 recorded on Friday, 17th February 2023. 

  • The opening indicative rate closed at N461.6/$1 on Friday, 20th February 2023. 
  • Furthermore, an exchange rate of N462.06/$1 was the highest rate recorded during intra-day trading before it settled at N461.5/1, while it traded for as low as N440/$1 during intra-day trading.
  • A sum of $40.28 million in FX value was traded at the I&E window on Monday which is 50.75% lower than the $81.78 million that exchanged hands in the previous session. 

Naira falls sharply to N775/$1 at the black market on 20th February 2023 

Naira depreciated sharply against the US dollar on Monday, 20th February 2023 to trade at an average of N775/$1, representing a 2.51% depreciation compared to N756/$1 recorded in the previous week. 

This is according to information from black market FX operators who spoke to Nairametrics.  

On the other hand, the exchange rate between the naira and the US dollar at the cryptocurrency P2P exchange market appreciated by 0.49% trading at an average of N752.9/$1 on Monday morning, 20th February 2023, from N756.6/$1 recorded last week Friday. 

Similarly, the exchange rate between the naira and the US dollar strengthened by 0.16% at the investors and exporters (I&E) window to close at N461.25/$1 on Friday, 17th February 2023 compared to N462/$1 recorded on Thursday. 

A total of $81.78 million in FX value was transacted at the official exchange on Friday, representing a 17.30% increase against the $69.72 million that exchanged hands in the previous day. The nation’s external reserves likewise, declined further for the fourth consecutive day to $36.78 billion on Thursday from $36.79 billion. 

Trading at the official NAFEX window 

The exchange rate at the official market closed at N461.25/$1 on Friday, 17th February 2023, a 0.16% appreciation from N462/$1 recorded on Thursday, 16th February 2023. 

  • The opening indicative rate closed at N461.5/$1 on Friday, 17th February 2023. 
  • Furthermore, an exchange rate of N462.09/$1 was the highest rate recorded during intra-day trading before it settled at N461.25/1, while it traded for as low as N446/$1 during intra-day trading. 
  • A sum of $81.78 million in FX value was traded at the I&E window on Friday which is 17.30% higher than the $69.72 million that exchanged hands in the previous session. 

Naira depreciates slightly at black market to N756/$1 on 17th February 2023

The exchange rate between the naira and the US dollar depreciated slightly on Friday, 17th February 2023 at the black market, trading at an average of N756/$1, a 0.13% depreciation from N755/$1 recorded previous trading session. 

This is according to information from black market FX operators who spoke to Nairametrics. Specifically, the traders noted that the buy FX from customers at an average of N747/$1 and sell for N756/$1. These rates however vary based on the form of transaction, cash or transfer. 

In the same vein, the naira depreciated against the US dollar at the cryptocurrency P2P exchange market trading at an average of N756.6/$1 on Friday morning, 17th February 2023, from N755.9/$1 recorded in the previous trading session. 

Also, the exchange rate between the naira and the US dollar depreciated by 0.11% at the investors and exporters (I&E) window to close at N462/$1 on Thursday, 16th February 2023 compared to N461.5/$1 recorded on Wednesday. 

A total of $69.72 million in FX value was transacted at the official exchange on Thursday, representing a 22.14% decrease against the $89.54 million that exchanged hands in the previous day. The nation’s external reserves likewise, declined further to $36.79 billion on Wednesday from $36.81 billion. 

Trading at the official NAFEX window 

The exchange rate at the official market closed at N462/$1 on Thursday, 16th February 2023, a 0.11% depreciation from N461.5/$1 recorded on Wednesday, 15th February 2023. 

  • The opening indicative rate closed at N461.3/$1 on Thursday, 16th February 2023. 
  • Furthermore, an exchange rate of N462/$1 was the highest rate recorded during intra-day trading before it settled at N462/1, while it traded for as low as N446/$1 during intra-day trading. 
  • A sum of $69.72 million in FX value was traded at the I&E window on Thursday which is 22.14% lower than the $89.54 million that exchanged hands in the previous session. 

Black market exchange rate trades at N755/$1 on 16th February 2023

The exchange rate between the naira and the US dollar remained stable on Thursday, 16th February 2023 at the black market, trading at an average of N755/$1, the same rate as recorded previous trading session. 

This is according to information from black market FX operators who spoke to Nairametrics. Specifically, the traders noted that the buy FX from customers at an average of N745/$1 and sell for N755/$1. However, they also added that in some cases the rate could vary depending on the form of transaction, cash or transfer. 

Meanwhile, naira appreciated marginally against the US dollar at the investors and exporters (I&E) window to close at N461.5/$1 on Wednesday, 15th February 2023 from N461.67/$1 recorded on Tuesday. 

On the other hand, the exchange rate at the cryptocurrency P2P exchange market depreciated marginally by 0.09% to N755.9/$1 on Thursday morning, 16th February 2023, from N755.18/$1 recorded in the previous trading session. 

A total of $89.54 million in FX value was traded at the official exchange on Wednesday, representing a 30.05% increase when compared to the $68.85 million that exchanged hands in the previous day. The nation’s foreign reserves on the other hand, declined further to $36.81 billion on Tuesday from $36.82 billion. 

Trading at the official NAFEX window 

The exchange rate at the official market closed at N461.5/$1 on Wednesday, 15th February 2023, a 0.04% appreciation from N461.67/$1 recorded on Tuesday, 14th February 2023. 

  • The opening indicative rate closed at N461.25/$1 on Wednesday, 15th February 2023. 
  • Furthermore, an exchange rate of N462.02/$1 was the highest rate recorded during intra-day trading before it settled at N461.5/1, while it traded for as low as N446/$1 during intra-day trading. 
  • A sum of $89.54 million in FX value was transacted at the I&E window on Wednesday which is 30.05% higher than the $68.85 million that exchanged hands in the previous session. 

Black market exchange rate moderates to N755/$1 on 15th February 2023 

Naira appreciated slightly against the US dollar on Wednesday, 15th February 2023, trading at an average of N755/$1 at the black market compared to the previous average of N756/$1. 

This is according to information from black market FX operators who spoke to Nairametrics.  

On the other hand, the exchange rate at the cryptocurrency P2P exchange market depreciated further to N755.18/$1 on Wednesday, 15th February 2023, from N752.25/$1 recorded in the previous trading session. 

Meanwhile, naira depreciated against the US dollar at the investors and exporters (I&E) window by 0.15% to close at N461/$1 on Tuesday, 14th February 2023 from N461/$1 recorded on Monday. 

Forex turnover at the official market decreased by 67.04% to $68.85 million on Tuesday, 14th February 2023, compared to the $208.91 million that was transacted in the previous session. 

Nigeria’s external reserves stood at $36.817 billion as of Monday, 13th February 2023, slightly lower than the $36.82 billion recorded as of last week Friday. 

Trading at the official NAFEX window 

The exchange rate at the official market closed at N461.67/$1 on Tuesday, 14th February 2023, a 0.15% depreciation from N461/$1 recorded on Monday, 13th February 2023. 

  • The opening indicative rate closed at N461.25/$1 on Tuesday, 14th February 2023. 
  • Furthermore, an exchange rate of N462.5/$1 was the highest rate recorded during intra-day trading before it settled at N461.67/1, while it traded for as low as N446/$1 during intra-day trading.
  • A sum of $68.85 million in FX value was transacted at the I&E window on Tuesday which is 67.04% lower than the $208.91 million that exchanged hands in the previous session. 

Naira trades at N756/$1 at the black market on 14th February 2023

Naira remained flat against the US dollar at the black market on Tuesday, 14th February 2023, trading at an average of N756/$1, this is the same rate recorded on Monday, 13th February 2023. 

This is according to information from black market FX operators who spoke to Nairametrics.  

The exchange rate at the cryptocurrency P2P exchange depreciated for the seventh consecutive day on Tuesday, 14th February 2023, trading at a minimum of N752.25/$1. This represents a 0.37% depreciation  from N749.48/$1 recorded on Monday. 

Meanwhile, the local currency appreciated against the US dollar at the investors and exporters (I&E) window by 0.11% to close at N461/$1 on Monday, 13th February 2023 from N461.5/$1 recorded last week Friday. 

Forex turnover at the official market increased by 251.70% to $208.91 million on Monday, 13th February 2023, compared to the $59.40 million that was transacted in the previous session. 

Nigeria’s external reserves stood at $36.82 billion as of Thursday, 9th February 2023, slightly lower than the previous day, representing the fifth consecutive day of decline. 

Trading at the official NAFEX window 

The exchange rate at the official market closed at N461/$1 on Monday, 13th February 2023, a 0.11% appreciation from N461.5/$1 recorded on Friday, 10th February 2023. 

  • The opening indicative rate closed at N461.35/$1 on Monday, 13th February 2023. 
  • Furthermore, an exchange rate of N462/$1 was the highest rate recorded during intra-day trading before it settled at N461/1, while it traded for as low as N446/$1 during intra-day trading. 
  • A sum of $208.91 million in FX value was transacted at the I&E window on Monday, which is 251.7% higher than the $59.40 million that exchanged hands in the previous session. 

Naira depreciates at the black market to N756/$1 on 13th February 2023  

The exchange rate between the naira and the US dollar at the black market weakened on Monday, 13th February 2023, trading at an average of N756/$1, compared to N755/$1 recorded over the weekend. 

This is according to information from black market FX operators who spoke to Nairametrics.  

Similarly, the naira at the cryptocurrency P2P exchange depreciated marginally by 0.09% against the US dollar on Monday, 13th February 2023, trading at a minimum of N749.48/$1, compared to N748.8/$1 recorded last week Friday. 

Also, the exchange rate at the investors and exporters (I&E) window depreciated by 0.09% to close at N461.5/$1 on Friday, 10th February 2023 from N461.1/$1 recorded on Thursday, 9th February 2023. 

On the other hand, forex turnover at the official market increased by 47.61% to $59.40 million on Friday, 10th February 2023, compared to the $40.24 million that was transacted in the previous session. 

Nigeria’s external reserves stood at $36.82 billion as of Thursday, 9th February 2023, slightly lower than the previous day, representing the fifth consecutive day of decline. 

Trading at the official NAFEX window 

The exchange rate at the official market closed at N461.5/$1 on Friday, 10th February 2023, a 0.09% depreciation from N461.1/$1 recorded on Thursday, 9th February 2023. 

  • The opening indicative rate closed at N461.5/$1 on Friday, 10th February 2023. 
  • Furthermore, an exchange rate of N462.05/$1 was the highest rate recorded during intra-day trading before it settled at N461.5/1, while it traded for as low as N446/$1 during intra-day trading. 
  • A sum of $59.40 million in FX value was transacted at the I&E window on Friday, which is 47.61% higher than the $40.24 million that exchanged hands in the previous session. 

Naira remains stable at N740/$1 on 10th February 2023 amidst cash scarcity

The exchange rate between the naira and the US dollar at the black market remained flat on Friday, 10th February 2023, trading at an average of N740/$1, which is the same rate recorded on Thursday, 9th February 2023.

The exchange rate has remained stable following the increased cash demand across the country as black-market traders have lamented the lack of cash in the market. This is according to information from black market FXoperators who spoke to Nairametrics.

The local currency at the cryptocurrency P2P exchange depreciated on the other hand against the US dollar by 0.18% on Friday, 10th February 2023, trading at a minimum of N748.8/$1, as against N747.48/$1 recorded in the previous trading session.

Meanwhile, the exchange rate at the investors and exporters (I&E) window appreciated marginally to close at N461.1/$1 on Thursday, from N461.17/$1 recorded on Wednesday, 8th February 2023.

However, Forex turnover at the official market fell to its lowest since October 24th 2022 to $40.24 million, representing a 27.52% decline compared to $55.52 million that exchanged hands on Wednesday.

Nigeria’s external reserves fell for the fourth consecutive day, depreciating by 0.09% to stand at $36.82 billion as of Wednesday, 8th February 2023 from $36.86 billion recorded in the previous day.

Trading at the official NAFEX window

The exchange rate at the official market closed at N461.1/$1 on Thursday, 9th February 2023, a 0.02% appreciation from N461.17/$1 recorded on Wednesday, 8th February 2023.

  • The opening indicative rate closed atN461.25/$1on Thursday, 9th February 2023.
  • Furthermore, an exchange rate of N462/$1 was the highest rate recorded during intra-day trading before it settled at N461.1/1, while it traded for as low as N439.96/$1 during intra-day trading.
  • A sum of $ 40.24 million in FX value was transacted at the I&E window on Thursday, which is27.52%lowerthanthe $55.52 million that was traded in the previous session.

Naira strengthens to N740/$1 at the black market on 9th February 2023

Naira improved against the US dollar at the black market on Thursday, 9th February 2023, trading at an average of N740/$1, a 1.33% gain compared to N750/$1 recorded on Wednesday, 8th February 2023. 

The appreciation of the local currency is on the increased demand of naira across the country, following the CBN new naira design policy. This is according to information from black market FX traders who spoke to Nairametrics.  

On the flip side, the exchange rate at the cryptocurrency P2P exchange depreciated marginally by 0.02% on Thursday, 9th February 2023, trading at a minimum of N747.48/$1, as against N747.30/$1 recorded in the previous trading session.  

Meanwhile, the exchange rate at the investors and exporters (I&E) window appreciated slightly to close at N461.17/$1 on Wednesday, from N462.15/$1 recorded on Tuesday, 7th February 2023. 

However, Forex turnover at the official market decreased further by 25.56% on Wednesday to $55.52 million, from $74.58 million that exchanged hands on Tuesday. Nigeria’s external reserves fell for the third consecutive day, losing 0.11% to stand at $36.86 billion as of Tuesday, 7th February 2023 from $36.89 billion recorded in the previous day. 

Trading at the official NAFEX window 

The exchange rate at the official market closed at N461.17/$1 on Wednesday, 8th February 2023, a 0.07% appreciation from N462.5/$1 recorded on Tuesday, 7th February 2023. 

  • The opening indicative rate closed at N461.5/$1 on Wednesday, 8th February 2023. 
  • Furthermore, an exchange rate of N462/$1 was the highest rate recorded during intra-day trading before it settled at N461.17/1, while it traded for as low as N446/$1 during intra-day trading. 
  • A sum of $55.52 million in FX value was transacted at the I&E window on Wednesday, which is 25.56% lower than the $74.58 million that was traded in the previous session. 

Black market exchange rate depreciates to trades at N750/$1 on 8th February 2023

Naira depreciated against the US dollar at the black market on Wednesday, 8th February 2023, trading at an average of N750/$1. This represents a depreciation of 0.67% compared to N745/$1 recorded on Tuesday, 7th February 2023. 

This is according to information from black market FX traders who spoke to Nairametrics.  

Likewise, the exchange rate at the cryptocurrency P2P exchange depreciated on Wednesday, 8th February 2023, trading at a minimum of N747.30/$1, a 0.09% fall against N746.6/$1 recorded in the previous trading session.  

On the other side, the exchange rate at the investors and exporters (I&E) window appreciated by 0.14% to close at N461.5/$1 on Tuesday, from N462.17/$1 recorded on Monday, 6th February 2023. 

However, Forex turnover at the official market reduced by 39.08% on Tuesday to $74.58 million, from $122.43 million that exchanged hands on Monday. Nigeria’s external reserves level decreased by 0.09% on Friday, 3rd February 2023 to stand at $36.988 billion from $37.02 billion recorded in the previous day. 

Trading at the official NAFEX window 

The exchange rate at the official market closed at N461.5/$1 on Tuesday, 7th February 2023, a 0.14% appreciation from N462.17/$1 recorded on Monday, 6th February 2023. 

  • The opening indicative rate closed at N461.5/$1 on Tuesday, 7th February 2023. 
  • Furthermore, an exchange rate of N462/$1 was the highest rate recorded during intra-day trading before it settled at N461.5/1, while it traded for as low as N416/$1 during intra-day trading. 
  • A sum of $74.58 million in FX value was transacted at the I&E window on Tuesday, which is 39.08% lower than the $122.43 million that was traded in the previous session. 

Black market exchange rate trades at N745/$1 on 7th February 2023

The exchange rate between the naira and the US dollar depreciated at the black market on Tuesday, 7th February 2023, trading at an average of N745/$1, compared to N744/$1 recorded on Monday, 6th February 2023. 

This is according to information from black market FX traders who spoke to Nairametrics.  

Similarly, the exchange rate at the investors and exporters (I&E) window depreciated by 0.15% to close at N462.17/$1 on Monday, from N461.5/$1 recorded last week Friday. 

Also, the exchange rate at the cryptocurrency P2P exchange weakened marginally by 0.11% on Tuesday, 7th February 2023 to trade at a minimum of N746.6/$1, as against N745.77/$1 recorded in the previous trading session. 

However, Forex turnover at the official market increased by 2.51%% on Monday to $122.43 million, from $119.43 million that exchanged hands on Friday. Nigeria’s external reserves level decreased by 0.09% on Friday, 3rd February 2023 to stand at $36.988 billion from $37.02 billion recorded in the previous day. 

Trading at the official NAFEX window 

The exchange rate at the official market closed at N462.17/$1 on Monday, 6th February 2023, a 0.15% depreciation from N461.5/$1 recorded on Friday, 3rd February 2023. 

  • The opening indicative rate closed at N461.39/$1 on Monday, 6th February 2023. 
  • Furthermore, an exchange rate of N462/$1 was the highest rate recorded during intra-day trading before it settled at N462.17/1, while it traded for as low as N446/$1 during intra-day trading. 
  • A sum of $122.43 million in FX value was transacted at the I&E window on Monday, which is 2.51% higher than the $119.43 million that was traded in the previous session. 

Naira gains at black market, trades at N744/$1 on 6th February 2023

The exchange rate between the naira and the US dollar improved at the black market on Monday, 6th February 2023, to trade to an average of N744/$1, representing a 0.53% appreciation compared to N748/$1 recorded on Friday, 3rd February 2023. 

This is according to information from black market FX traders who spoke to Nairametrics.  

On the other hand, the exchange rate at the cryptocurrency P2P exchange depreciated marginally by 0.10% on Monday, 6th February 2023 to a minimum of N745.77/$1, as against N745/$1 recorded in the previous trading session. 

Meanwhile, the exchange rate at the investors and exporters (I&E) window appreciated slightly to N461.5/$1, a gain of 0.11% from N462/$1 recorded on Friday, 3rd February 2023. Forex turnover however increased by 0.07% on Friday to $119.43 million, from $119.35 million that exchanged hands on Thursday. 

Nigeria’s external reserves level increased further by 0.03% on Thursday, 2nd February 2023 to stand at $37.02 billion from $37.01 billion recorded the previous day. 

Trading at the official NAFEX window 

The exchange rate at the official market closed at N461.5/$1 on Friday, 3rd February 2023, a 0.11% appreciation from N462/$1 recorded on Thursday, 2nd February 2023. 

  • The opening indicative rate closed at N461.4/$1 on Friday, 3rd February 2023. 
  • Furthermore, an exchange rate of N462.5/$1 was the highest rate recorded during intra-day trading before it settled at N461.5/1, while it traded for as low as N460/$1 during intra-day trading. 
  • A sum of $119.43 million in FX value was transacted at the I&E window on Friday, which is 0.07% higher than the $119.43 million that was traded in the previous session. 

The exchange rate between the naira and the US dollar weakened at the black market on Friday, 3rd February 2023, to trade to an average of N748/$1, representing a 0.4% depreciation compared to N745/$1 recorded on Thursday, 2nd February 2023. 

This is according to information from black market FX traders who spoke to Nairametrics.  

Also, the exchange rate at the investors and exporters (I&E) window depreciated marginally to N462/$1 following a streak of stability for three consecutive days at N461.5/$1. Forex turnover however increased by 13.27% on Thursday to $119.35 million, from $105.37 million that exchanged hands on Wednesday. 

On the flip side, the exchange rate at the cryptocurrency P2P exchange appreciated by 0.16% on Friday, 3rd February 2023 to a minimum of N745/$1, as against N746.22/$1 recorded in the previous trading session. 

Nigeria’s external reserves recorded its first gain after eleven consecutive days of declines, The reserve level increased by 0.04% on Wednesday, 1st February 2023 to stand at $37.01 billion from $36.99 billion recorded in the previous day. 

Trading at the official NAFEX window 

The exchange rate at the official market closed at N462/$1 on Thursday, 2nd February 2023, a 0.11% depreciation from N461.5/$1 recorded on Wednesday, 1st February 2023. 

  • The opening indicative rate closed at N461.1/$1 on Thursday, 2nd February 2023. 
  • Furthermore, an exchange rate of N462.55/$1 was the highest rate recorded during intra-day trading before it settled at N462/1, while it traded for as low as N423/$1 during intra-day trading. 
  • A sum of $119.35 million in FX value was transacted at the I&E window on Thursday, which is 13.27% higher than the $105.37 million that was traded in the previous session. 

Naira remains stable at N745/$1 at the black market on 2nd February 2023

The exchange rate between the naira and the US dollar traded for an average of N745/$1 on Thursday, 2nd February 2023, the same rate as recorded on Wednesday, 1st February 2023. 

This is according to information from black market FX traders who spoke to Nairametrics.  

On the other hand, the exchange rate at the cryptocurrency P2P exchange depreciated on Thursday, 2nd February 2023 to a minimum of N746.22/$1, from N755.5/$1 recorded in the previous trading session. 

Also, the exchange rate at the investors and exporters (I&E) window maintained the same rate for the third consecutive trading session on Wednesday, closing at N461.5 to a dollar. 

Forex turnover however increased by 23.91% on Wednesday to $105.37 million, from $85.04 million that exchanged hands on Tuesday. Nigeria’s external reserves fell for the eleventh straight day to stand at $36.99 billion as of 31st January 2023, representing a decline of 0.03% from the $37.01 billion recorded as of 30th January 2023. 

Trading at the official NAFEX window 

The exchange rate at the official market closed at N461.5/$1 on Wednesday, 1st February 2023, same rate recorded on Tuesday, 31st January 2023. 

  • The opening indicative rate closed at N461.5/$1 on Wednesday, 1st February 2023. 
  • Furthermore, an exchange rate of N462/$1 was the highest rate recorded during intra-day trading before it settled at N461.5/1, while it traded for as low as N446/$1 during intra-day trading. 
  • A sum of $105.37 million in FX value was transacted at the I&E window on Wednesday, which is 43.49% higher than the $85.04 million that was traded in the previous session. 

Black market exchange rate appreciates to N745/$1 on 1st February 2023

The exchange rate between the naira and the US dollar traded for an average of N745/$1 on Wednesday, 1st February 2023, representing a 0.80% appreciation when compared to N751/$1 recorded in the previous trading session. 

This is according to information from black market FX traders who spoke to Nairametrics.  

Similarly, the exchange rate at the cryptocurrency P2P exchange appreciated on Wednesday, 1st February 2023 to a minimum of N745.5/$1, from N752/$1 recorded on Tuesday’s trading session. 

Meanwhile, the exchange rate at the investors and exporters (I&E) window closed at N461.5/$1 on Tuesday, 31st January 2023, the same rate as recorded in the previous trading session. 

Forex turnover however decreased by 43.49% on Tuesday to $85.04 million, from $150.49 million that exchanged hands on Monday. Nigeria’s external reserves fell for the tenth straight day to stand at $37.01 billion as of 30th January 2023, representing a decline of 0.09% from the $37.04 billion recorded as of 27th January 2023. 

Trading at the official NAFEX window 

The exchange rate at the official market closed at N461.5/$1 on Tuesday, 31st January 2023, the same rate was recorded on Monday, 30th January 2023. 

  • The opening indicative rate closed at N461.5/$1 on Tuesday, 31st January 2023. 
  • Furthermore, an exchange rate of N462/$1 was the highest rate recorded during intra-day trading before it settled at N461.5/1, while it traded for as low as N446/$1 during intra-day trading. 
  • A sum of $85.04 million in FX value was transacted at the I&E window on Tuesday, which is 43.49% lower than the $150.49 million that was traded in the previous session. 

Black market exchange rate moderates to N751/$1 on 31st January 2023

The exchange rate between the naira and the US dollar moderated slightly to an average of N751/$1 on Tuesday, 31st January 2022, compared to N752/$1 recorded in the previous trading session. 

This is according to information from black market FX traders who spoke to Nairametrics.  

Also, the exchange rate at the cryptocurrency P2P exchange improved marginally to trade at a minimum of N752/$1, on Tuesday morning from N752.4/$1 recorded on Monday’s trading session. 

Meanwhile, the exchange rate at the investors and exporters (I&E) window closed at N461.5/$1 on Monday, 30th January 2023, representing a 0.05% appreciation compared to N461.75/$1 recorded in the previous trading session. 

Forex turnover however increased by 54.08% on Monday to $150.49 million, from $97.67 million that exchanged hands last week Friday. Nigeria’s external reserves fell for the ninth straight day to stand at $37.04 billion as of 27th January 2023, representing a decline of 0.08% from the $37.07 billion recorded as of 26th January 2023. 

Trading at the official NAFEX window 

The exchange rate at the official market closed at N461.5/$1 on Monday, 30th January 2023, a 0.05% appreciation from N461.75/$1 recorded on Friday, 27th January 2023. 

  • The opening indicative rate closed at N461.5/$1 on Monday, 30th January 2023. 
  • Furthermore, an exchange rate of N462/$1 was the highest rate recorded during intra-day trading before it settled at N461.5/1, while it traded for as low as N446/$1 during intra-day trading. 
  • A sum of $150.49 million in FX value was transacted at the I&E window on Monday, which is 54.1% higher than the $97.67 million that was traded in the previous session. 

Naira falls sharply at the black market to N752/$1 on 30th January 2023 

The exchange rate between naira and the US dollar fell sharply to N752/$1 on Monday, 30th January 2022, representing a 0.94% depreciation compared to N745/$1 recorded last week Friday. 

This is according to information from black market FX traders who spoke to Nairametrics.  

Similarly, the exchange rate at the cryptocurrency P2P exchange depreciated on Monday morning to trade at a minimum of N752.4/$1, a 0.83% downturn compared to N746.2/$1 recorded as of the same time last week Friday, 27th January 2023. 

In the same vein, the exchange rate at the investors and exporters (I&E) window closed at N461.75/$1 on Friday, 27th January 2023, representing a 0.11% depreciation compared to N461.25/$1 recorded in the previous trading session. 

Forex turnover however surged by 116.3% on Friday to $97.67 million, from $45.16 million that exchanged hands in the previous session. Nigeria’s external reserves stood at $37.07 billion as of 26th January 2023, representing a decline of 0.07% from the $37.09 billion recorded as of 25th January 2023, representing the eighth consecutive day of decline. 

Trading at the official NAFEX window 

The exchange rate at the official market closed at N461.75/$1 on Friday, 27th January 2023, a 0.11% depreciation from N461.25/$1 recorded on Thursday, 26th January 2023. 

  • The opening indicative rate closed at N461.25/$1 on Friday, 27th January 2023. 
  • Furthermore, an exchange rate of N462/$1 was the highest rate recorded during intra-day trading before it settled at N461.75/1, while it traded for as low as N446/$1 during intra-day trading. 
  • A sum of $97.67 million in FX value was transacted at the I&E window on Friday, which is 116.28% higher than the $45.16 million that was traded in the previous session. 

Naira appreciates to N745/$1 at the black market on 27th January 2023

Naira strengthened against the US dollar at the black market on Friday, 27th January 2023 to trade at an average of N745/$1 compared to N751/$1 recorded in the previous trading session. 

This is according to information from FX black market traders who spoke to Nairametrics.  

Similarly, the exchange rate at the cryptocurrency P2P exchange appreciated on Friday morning to trade at a minimum of N746.2/$1, a 0.52% appreciation compared to N750.09/$1 recorded as of the same time in the previous trading session. 

Meanwhile, the exchange rate at the investors and exporters (I&E) window closed at N461.25/$1 on Thursday, 26th January 2023, representing a 0.10% improvement compared to N461.7/$1 recorded in the previous trading session. 

Forex turnover however decreased by 58.88% on Thursday to $45.16 million, compared to the $109.82 million that exchanged hands in the previous session. Nigeria’s external reserves stood at $37.09 billion as of 26th January 2023, representing a decline of 0.07% from the $37.12 billion recorded as of 25th January 2023, a consistent decline for the past 7 days. 

Trading at the official NAFEX window

The exchange rate at the official market closed at N461.25/$1 on Thursday, 26th January 2023, a 0.10% appreciation from N461.7/$1 recorded on Wednesday, 25th January 2023. 

  • The opening indicative rate closed at N461.3/$1 on Thursday, 26th January 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 $45.16 million in FX value was transacted at the I&E window on Thursday, which is 58.88% lower than the $109.82 million that was traded in the previous session. 

Black market exchange rate depreciates slightly to N751/$1 on 26th January 2023

The exchange rate between the naira and the US dollar depreciated slightly by 0.13% on Thursday, 26th January 2023 to trade at an average of N751/$1 compared to N750/$1 recorded in the previous trading session. 

This is according to information from FX black market traders who spoke to Nairametrics.  

In the same vein, the exchange rate at the cryptocurrency P2P exchange depreciated on Thursday morning to trade at a minimum of N750.09/$1, a 0.17% depreciation compared to N748.79/$1 recorded as of the same time in the previous trading session. 

Meanwhile, the exchange rate at the investors and exporters (I&E) window closed at N461.7/$1 on Wednesday, 25th January 2023, representing a 0.06% improvement compared to N462/$1 recorded in the previous trading session. 

Forex turnover however decreased marginally by 1.98% on Wednesday to $109.82 million, compared to the $112.04 million that exchanged hands in the previous session. Nigeria’s external reserves stood at $37.12 billion as of 24th January 2023, representing a decline of 0.07% from the $37.15 billion recorded as of 24th January 2023. 

Trading at the official NAFEX window 

The exchange rate at the official market closed at N461.7/$1 on Wednesday, 25th January 2023, a 0.06^appreciation from N462/$1 recorded on Tuesday, 24th January 2023. 

  • The opening indicative rate closed at N461.7/$1 on Wednesday, 25th January 2023. 
  • Furthermore, an exchange rate of N462/$1 was the highest rate recorded during intra-day trading before it settled at N461.7/1, while it traded for as low as N440/$1 during intra-day trading. 
  • A sum of $109.82 million in FX value was transacted at the I&E window on Wednesday, which is 1.98% lower than the $112.04 million that was traded in the previous session. 

Naira appreciates to N750/$1 at the black market on 25th January 2023

Naira improved against the US dollar at the black market on Wednesday morning, 25th January 2023, to trade at an average of N750/$1, representing a 0.40% appreciation in contrast to an average of N753/$1 recorded on Tuesday morning. 

This is according to information from FX black market traders who spoke to Nairametrics.  

On the flip side, the exchange rate at the cryptocurrency P2P exchange depreciated on Wednesday morning to trade at a minimum of N748.79/$1, a 0.24% depreciation compared to N747/$1 recorded as of the same time in the previous trading session. 

Meanwhile, the exchange rate at the investors and exporters (I&E) window closed at N462/$1 on Tuesday, 24th January 2023, representing a slight drop of 0.08% from N461.63/$1 recorded in the previous trading session. 

Forex turnover however decreased by 15.61% on Tuesday to $112.04 million, compared to the $132.77 million that exchanged hands in the previous session. Nigeria’s external reserves stood at $37.15 billion as of 23rd January 2023, representing a decline of 0.12% from the $37.19 billion recorded as of 20th January 2023. 

Trading at the official NAFEX window 

The exchange rate at the official market closed at N462/$1 on Tuesday, 24th January 2023. 

  • The opening indicative rate closed at N461.2/$1 on Tuesday, 24th January 2023. 
  • Furthermore, an exchange rate of N463/$1 was the highest rate recorded during intra-day trading before it settled at N462/1, while it traded for as low as N440/$1 during intra-day trading. 
  • A sum of $112.04 million in FX value was transacted at the I&E window on Tuesday, which is 15.61% lower than the $132.77 million that was traded in the previous session. 

Naira depreciates to N753/$1 at the black market on 24th January 2023

Naira weakened against the US dollar at the black market on Tuesday morning, 24th January 2023, having depreciated by 1.07% to trade at an average of N753/$1 compared to an average of N745/$1 recorded on Monday. 

This is according to information from FX black market traders who spoke to Nairametrics.  

Also, the exchange rate at the cryptocurrency P2P exchange depreciated on Tuesday morning to trade at a minimum of N747/$1, a 0.27% downtrend compared to N745/$1 recorded as of the same time on Monday. 

In the same vein, the exchange rate at the investors and exporters (I&E) window closed at N461.63/$1 on Monday, 23rd January 2023, representing a 0.03% dip from N461.5/$1 recorded in the previous trading session. 

Forex turnover however rallied by 37.14% on Monday to $132.77 million, in contrast to the $96.81 million that exchanged hands in the previous session. Nigeria’s external reserves stood at $37.19 billion as of 20th January 2023, representing a decrease of 0.03% from the $37.20 billion recorded as of 19th January 2023. 

Trading at the official NAFEX window 

The exchange rate at the official market closed at N461.63/$1 on Monday, 23rd January 2023. 

  • The opening indicative rate closed at N460.75/$1 on the day under review. 
  • Furthermore, an exchange rate of N463/$1 was the highest rate recorded during intra-day trading before it settled at N461.63/1, while it traded for as low as N440/$1 during intra-day trading. 
  • A sum of $132.77 million in FX value was transacted at the I&E window on Monday, which is 37.14% higher than the $96.81 million that was traded in the previous session. 

Naira appreciates to N745/$1 at the black market on 23rd January 2023

The exchange rate between the naira and the US dollar at the black market appreciated further by 0.13% on Monday morning, 23rd January 2023, trading at an average of N745/$1 compared to N746/$1 recorded last week Friday. 

This is according to information from FX black market traders who spoke to Nairametrics.  

On the other hand, the exchange rate at the cryptocurrency P2P exchange depreciated on Monday morning to trade at a minimum of N745/$1, a 0.15% downturn compared to N743.9$1 recorded as of the same time last week Friday.. 

Meanwhile, the exchange rate at the investors and exporters (I&E) window closed at N461.5/$1 on Friday, 20th January 2023, the same as recorded in the previous trading session. 

Forex turnover dipped by 55.6% on Friday to $96.81 million, compared to the $217.86 million that was transacted in the previous session. Nigeria’s external reserves stood at $37.201 billion as of 19th January 2023, representing a decrease of 0.01% from the $37.205 billion recorded on of 18th January 2023. 

Trading at the official NAFEX window 

The exchange rate at the official market closed at N461.5/$1 on Friday, 20th January 2023. 

  • The opening indicative rate closed at N461/$1 on Friday, 20th January 2023, representing a slight uptick compared to N461.1/$1 recorded in the previous session. 
  • Furthermore, an exchange rate of N462/$1 was the highest rate recorded during intra-day trading before it settled at N461.5/1, while it traded for as low as N440/$1 during intra-day trading. 
  • A sum of $96.81 million in FX value exchanged hands at the I&E window on Friday, which is 55.6% lower than the $217.86 million that was traded in the previous session. 

Black market exchange rate moderates to N746/$1 on 20th January 2023

The exchange rate between the naira and the US dollar at the black market appreciated slightly by 0.27% on Friday, 20th January 2023, trading at an average of N746/$1 compared to N748/$1 recorded on the previous day. 

This is according to information from FX black market traders who spoke to Nairametrics.  

In the same vein, the exchange rate at the cryptocurrency P2P exchange improved on Friday morning to trade at a minimum of N743.9/$1, a 0.35% appreciation compared to N746.48/$1 recorded as of the same time on Thursday. 

On the other hand, the exchange rate at the investors and exporters (I&E) window closed at N461.5/$1 on Thursday, 19th January 2023, recording a slight depreciation compared to N461.25/$1 that it closed at the end of the previous trading session. 

Forex turnover increased by 292.3% on Thursday to $217.86 million, its highest daily volume since 21st December 2022. Meanwhile, Nigeria’s external reserves stood at $37.205 billion as of 18th January 2023, representing a decrease of 0.01% from the $37.208 billion recorded on 17th January 2023. 

Trading at the official NAFEX window 

The exchange rate at the official market closed at N461.5/$1 on Thursday, 19th January 2023, a 0.05% depreciation from N461.25/$1 recorded in the previous trading session. 

  • The opening indicative rate closed at N461.1/$1 on Thursday, 19th January 2023. 
  • Furthermore, an exchange rate of N462/$1 was the highest rate recorded during intra-day trading before it settled at N461.5/1, while it traded for as low as N440/$1 during intra-day trading. 
  • A sum of $217.86 million in FX value exchanged hands at the I&E window on Thursday, which is 292.3%
  • higher than the $55.54 million that was traded in the previous session. 

Black market exchange rate depreciates to N748/$1 on 19th January 2023

The exchange rate between the naira and the US dollar at the black market depreciated by 0.27% to trade an average of N748/$1 on Thursday 19th January 2023, compared to N746/$1 recorded on the previous day. 

This is according to information from FX black market traders who spoke to Nairametrics.  

On the other hand, the exchange rate at the cryptocurrency P2P exchange improved marginally on Thursday morning to trade at a minimum of N746.48/$1, an 0.02% appreciation compared to N746.6/$1 recorded as of the same time on Wednesday. 

Similarly, the exchange rate at the investors and exporters (I&E) window closed at N461.25/$1 on Wednesday, 18th January 2023, recording a slight improvement compared to N461.5/$1 that it closed at the end of the previous trading session. 

A sum of $55.54 million exchanged hands on Wednesday, which is marginally higher than the $55.52 million that was traded on Tuesday, 17th January 2023. Meanwhile, Nigeria’s external reserves stood at $37.208 billion as of 17th January 2023, representing a decrease of 0.006% from the $37.210 billion recorded on 16th January 2023. 

Trading at the official NAFEX window 

The exchange rate at the official market closed at N461.25/$1 on Wednesday, 18th January 2023, an 0.05% appreciation from N461.5/$1 recorded in the previous trading session. 

  • The opening indicative rate closed at N461/$1 on Wednesday, 18th January 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 Wednesday, which is 0.04% higher than the $55.52 million that was traded in the previous session. 

Naira strengthens to N746/$1 at the black market on 18th January 2023

The exchange rate between the naira and the US dollar on the black market appreciated on Wednesday 18th January 2023, trading at an average of N746/$1. This represents a marginal improvement of 0.13% compared to N747/$1 recorded in the trading session. 

This is according to information from black market traders who spoke to Nairametrics.  

Likewise, the exchange rate at the cryptocurrency P2P exchange appreciated marginally by 0.15% on Wednesday morning to trade at a minimum of N746.6/$1, compared to N747.7/$1 recorded as of the same time on Tuesday. 

Meanwhile, the exchange rate at the investors and exporters (I&E) window closed at N461.5/$1 on Tuesday, 16th January 2023, maintaining the same rate it recorded in the previous trading session. 

A sum of $55.52 million exchanged hands on Tuesday, as forex turnover declined by 72.04% compared to $198.6 million that was traded on Monday, 16th January 2023. 

Nigeria’s external reserves, however, stood at $37.21 billion as of 16th January 2023, representing an increase of 0.013% from the $37.206 billion recorded on 13th December 2022. 

Trading at the official NAFEX window

The exchange rate at the official market closed at N461.5/$1 on Tuesday, 17th January 2023, the same as the rate recorded in the previous trading session. 

  • The opening indicative rate closed at N460.9/$1 on Tuesday, 17th January 2023. 
  • Furthermore, an exchange rate of N462/$1 was the highest rate recorded during intra-day trading before it settled at N461.5/1, while it traded for as low as N440/$1 during intra-day trading. 
  • A sum of $55.52 million in FX value exchanged hands at the I&E window on Tuesday, which is 72.04% lower than the $198.6 million that was traded in the previous session. 

Naira falls to N747/$1 at the black market on 17th January 2023

The exchange rate between the naira and the US dollar at the black market depreciated on Tuesday 17th January 2023, trading at an average of N747/$1. This represents a 1.63% fall compared to N735/$1 maintained in the last three trading sessions.

This is according to information from black market traders who spoke to Nairametrics. The downturn in the black market was attributed to increased demand for FX as a result of the coming Chinese New Year holiday.

China, which is set to go on holiday between the 21st and 27th of January will close trading activities during the period, hence prompting Nigerian traders to preorder goods ahead of the holiday.

Similarly, the exchange rate at the cryptocurrency P2P exchange depreciated by 0.50% on Tuesday morning to trade at a minimum of N747.7/$1, compared to N743.95/$1 recorded as of the same time on Monday.

Meanwhile, the exchange rate at the investors and exporters (I&E) window closed at N461.5/$1 on Monday, 16th January 2023, a 0.09% improvement from N461.9/$1 recorded in the previous trading session.

Forex turnover surged by 175.2% on Monday as a sum of $198.6 million exchanged hands in contrast to $72.18 million that was traded on Friday, 13th January 2023.

Nigeria’s external reserves however, stood at $37.206 billion as of 13th January 2023, representing a marginal decrease of 0.002% from the $37.206 billion recorded as 12th December 2022, a reversal from the seventh consecutive increase it had recorded.

Trading at the official NAFEX window

The exchange rate at the official market closed at N461.5/$1 on Monday, 16th January 2023, compared to N461.9/$1 recorded in the previous trading session.

  • The opening indicative rate closed at N461/$1 on Monday, 16th January 2023.
  • Furthermore, an exchange rate of N465.5/$1 was the highest rate recorded during intra-day trading before it settled at N461.5/1, while it traded for as low as N440/$1 during intra-day trading.
  • A sum of $198.6 million in FX value exchanged hands at the I&E window on Monday, which is 175.15% higher than the $72.18 million that was traded in the previous session.


Naira maintains rate against USD at N735/$1 on 16th January 2023

The exchange rate between the naira and the US dollar at the black market remained flat on Monday 16th January 2023, trading at an average of N735/$1. The same was recorded in the last three trading sessions.

This is according to information from black market traders who spoke to Nairametrics.

Also, the exchange rate at the cryptocurrency P2P exchange appreciated by 0.43% on Monday morning to trade at a minimum of N743.95/$1, compared to N747.18/$1 recorded as of the same time last week Friday.

Meanwhile, the exchange rate at the investors and exporters (I&E) window closed at N461.9/$1 on Friday, 13th January 2023, a 0.16% depreciation from N461.17/$1 recorded in the previous trading session.

Trading activities at the official market declined further by 18.85% on Friday 13th January 2023. Specifically, a total of $72.18 million was traded on Friday, against the $88.95 million that exchanged hands in the previous day.

Nigeria’s external reserves however, stood at $37.205 billion as of 12th January 2023, representing a marginal increase from the $37.205 billion recorded as of 11th December 2022, indicating a seventh straight increase in the nation’s reserve level.

Trading at the official NAFEX window

The exchange rate at the official market closed at N461.9/$1 on Friday, 13th January 2023, from N461.17/$1 recorded in the previous trading session.

  • The opening indicative rate closed at N461.2/$1 on Friday, 13th January 2023.
  • Furthermore, an exchange rate of N462/$1 was the highest rate recorded during intra-day trading before it settled at N461.9/1, while it traded for as low as N440/$1 during intra-day trading.
  • A sum of $72.18 million in FX value exchanged hands at the I&E window on Friday, which is 18.85% lower than the $88.95 million that was traded in the previous session.

Naira trades flat at N735/$1 at the black market on 13th January 2023

The exchange rate between the naira and the US dollar at the black market remained flat on Friday, 13th January 2023, trading at an average of N735/$1. The same as recorded in the previous trading session. 

This is according to information from black market traders who spoke to Nairametrics.  

On the other hand, the exchange rate at the cryptocurrency P2P exchange depreciated by 0.02% on Friday morning to trade at a minimum of N747.18/$1, compared to N747/$1 recorded as of the same time on Thursday. 

Meanwhile, the exchange rate at the investors and exporters (I&E) window closed at N461.17/$1 on Thursday, 12th January 2023, a 0.16% appreciation from N461.9/$1 recorded in the previous trading session. 

Trading activities at the official market declined by 41.19%  on Thursday 12th January 2023. Specifically, a total of $88.95 million was traded on Thursday, against the $151.26 million that exchanged hands in the previous day. 

Nigeria’s external reserves however, stood at $37.21 billion as of 11th January 2023, representing a 0.01% increase from the $37.2 billion recorded as 10th December 2022, indicating a sixth successive increase in the nation’s reserve level. 

Trading at the official NAFEX window 

The exchange rate at the official market closed at N461.17/$1 on Thursday, 12th January 2023, from N461.9/$1 recorded in the previous trading session. 

  • The opening indicative rate closed at N461/$1 on Thursday, 12th January 2023. 
  • Furthermore, an exchange rate of N462/$1 was the highest rate recorded during intra-day trading before it settled at N461.17/1, while it traded for as low as N440/$1 during intra-day trading. 
  • A sum of $88.95 million in FX value exchanged hands at the I&E window on Thursday, which is 41.19% lower than the $151.26 million that was traded in the previous session. 

Black market exchange rate appreciates further to N735/$1 on 12th January 2023 

The exchange rate between the naira and the US dollar at the black market appreciated on Thursday, 12th January 2023 to trade at an average of N735/$1. Representing an uptrend of 0.41% compared to N738/$1 recorded on Wednesday. 

This is according to information from black market traders who spoke to Nairametrics.  

Also, the exchange rate at the cryptocurrency P2P exchange appreciated by 0.11% on Thursday morning to trade at a minimum of N747/$1 from N747.85/$1 recorded as of the same time on Wednesday. 

On the other hand, the exchange rate at the investors and exporters (I&E) window closed at N461.9/$1 on Wednesday, 11th January 2023, compared to N461.5/$1 recorded in the previous trading session. 

The official exchange rate depreciated by 0.1% despite a 28.5% increase in trading activities at the exchange. Notably, a total of $151.26 million was traded on Wednesday, against the $117.63 million that exchanged hands in the previous day. 

Nigeria’s external reserves however, stood at $37.2 billion as of 10th January 2023, representing a 0.02% increase from the $37.19 billion recorded as 9th December 2022, indicating a fifth successive increase in the nation’s reserve level. 

Trading at the official NAFEX window 

The exchange rate at the official market closed at N461.9/$1 on Wednesday, 11th January 2023, from N461.5/$1 recorded in the previous trading session. 

  • The opening indicative rate closed at N460.25/$1 on Wednesday, 11th January 2023. 
  • Furthermore, an exchange rate of N462/$1 was the highest rate recorded during intra-day trading before it settled at N461.9/1, while it traded for as low as N440/$1 during intra-day trading. 
  • A sum of $151.26 million in FX value exchanged hands at the I&E window on Wednesday, which is 28.59% higher than the $117.63 million that was traded in the previous session. 

The black market exchange rate appreciates to N738/$1 on 11th January 2023 

The exchange rate between the naira and the US dollar at the black market appreciated on Wednesday, 11th January 2023 to trade at an average of N745/$1. This represents an uptrend of 0.94% compared to N745/$1 recorded on Tuesday. 

This is according to information from black market traders who spoke to Nairametrics.  

Also, the exchange rate at the investors and exporters (I&E) window recorded a marginal growth on Tuesday, 10th January 2023 to close at N461.5/$1 from N461.67/$1 recorded in the previous trading session. 

The movement in the official exchange rate follows a 149.6% surge in forex turnover on Tuesday. A total of $117.63 million in FX value was traded at the window, compared to $47.13 million that exchanged hands on Monday. 

On the other hand, the exchange rate at the cryptocurrency P2P exchange depreciated by 0.3% on Wednesday morning to trade at a minimum of N747.85/$1 from N745.75/$1 recorded as of the same time on Tuesday. 

Nigeria’s external reserves however, stood at $37.2 billion as of 9th January 2023, representing a 0.09% increase from the $37.16 billion recorded as 6th December 2022, indicating a fourth successive increase in the nation’s reserve level. 

Trading at the official NAFEX window 

The exchange rate at the official market closed at N461.5/$1 on Tuesday, 10th January 2023, from N461.67/$1 recorded in the previous trading session. 

  • The opening indicative rate closed at N460.25/$1 on Tuesday, 10th January 2023. 
  • Furthermore, an exchange rate of N462/$1 was the highest rate recorded during intra-day trading before it settled at N461.5/1, while it traded for as low as N440/$1 during intra-day trading.
  • A sum of $117.63 million in FX value exchanged hands at the I&E window on Tuesday, which is 149.59% higher than the $47.13 million that was traded in the previous session. 

Naira trades flat at N745/$1 at black market on 10th January 2023

The exchange rate between the naira and the US dollar at the black market remained flat at N745/$1 on Tuesday morning, 10th January 2023. This is the same rate recorded in the previous trading day. 

This is according to information from black market traders who spoke to Nairametrics. The exchange rate had depreciated by 1.92% yesterday from N731/$1. 

Likewise, the exchange rate at the investors and exporters (I&E) window closed flat at N461.67/$1 on Monday, 9th January 2023. Meanwhile, forex turnover fell by 40.38% to $47.13 million compared to $79.05 million that exchanged hands in the previous trading session. 

On the other hand, the exchange rate at the cryptocurrency P2P exchange depreciated by 0.02% on Tuesday morning to trade at a minimum of N745.6/$1 from N745.6/$1 recorded as of the same time on Monday. 

Nigeria’s external reserves however, stood at $37.16 billion as of 6th January 2023, representing a 0.03% increase from the $37.11 billion recorded as 4th December 2022, indicating a third successive increase in the nation’s reserve level. 

Trading at the official NAFEX window 

The exchange rate at the official market closed at N461.67/$1 on Monday, 9th January 2023, the same rate as recorded on Friday last week. 

  • The opening indicative rate closed at N459.33/$1 on Monday, 9th January 2023. 
  • Furthermore, an exchange rate of N462/$1 was the highest rate recorded during intra-day trading before it settled at N461.67/1, while it traded for as low as N426/$1 during intra-day trading. 
  • A sum of $47.13 million in FX value exchanged hands at the I&E window on Monday, which is 40.38% lower than the $79.05 million that was traded in the previous session. 

Naira falls sharply to N745/$1 at black market on 9th January 2023

The exchange rate between the naira and the US dollar depreciated on Monday, 9th January 2023, to trade at an average of N745/$1 on the black market, following two weeks of stability. 

This is according to information from black market traders who spoke to Nairametrics. Compared to the N731/$1 recorded last week Friday, naira depreciated by 1.92%. 

According to FX traders, the downturn was expected at the beginning of the year, due to increased demands for foreign exchange in the country. The high demand according to the trader is because of Nigerians who want to pay for school fees abroad, purchase assets, and send funds to children abroad amongst others. 

Also, the exchange rate at the cryptocurrency P2P exchange depreciated by 0.35% on Monday morning to trade at a minimum of N745.6/$1. 

Meanwhile, the exchange rate at the investors and exporters (I&E) window weakened slightly to N461.67/$1 on Friday, 6th January 2023, a 0.04% depreciation from the N461.5/$1 recorded on Thursday, 5th January 2023. 

A total of $79.05 million was traded at the official market on Friday, a marginal increase compared to $68.14 million that exchanged hands the previous day. Nigeria’s external reserves, however, stood at $37.15 billion as of 5th January 2023, representing a 0.12% increase from the $37.11 billion recorded as 4th December 2022. 

Trading at the official NAFEX window 

The exchange rate at the official market closed at N461.67/$1 on Friday, 6th January 2023, representing a 0.04% depreciation from N461.5/$1 recorded on Thursday. 

  • The opening indicative rate closed at N459.5/$1 on Friday, 6th January 2023. 
  • Furthermore, an exchange rate of N462/$1 was the highest rate recorded during intra-day trading before it settled at N461.6751, while it traded for as low as N440/$1 during intra-day trading. 
  • A sum of $79.05 million in FX value exchanged hands at the I&E window on Friday, which is 16.01% higher than the $68.14 million that was traded in the previous session. 

Naira depreciates marginally at the black market, and trades at N731/$1 on 6th January 2023

Naira depreciated against the US dollar at the black market, on Friday, 6th January 2023, trading at an average of N731/$1, a 0.14% depreciation compared to N730/$1 recorded in the previous trading day.  

This is according to information from black market traders who spoke to Nairametrics. 

On the other hand, the exchange rate at the P2P cryptocurrency Exchange improved on Friday morning, trading at a minimum of N743/$1, a 0.11% uptrend compared to N743.79/$1 recorded in the previous day session. 

Meanwhile, the exchange rate at the official investors and exporters (I&E) window improved slightly to  N461.50/$1 on Thursday, 5th January 2023, from the N461.67/$1 recorded on Wednesday, 4th January 2023. 

A total of $68.14 million was traded at the official market on Thursday, a slight decline compared to $69.33 million that exchanged hands the previous day. Nigeria’s external reserve in the same vein, stood at $37.07 billion as of 3rd January 2023, a 0.04% reduction from the $37.08 billion recorded as 30th December 2022. 

Trading at the official NAFEX window 

The exchange rate at the official market closed at N461.5/$1 on Thursday, 5th January 2023, representing a 0.04% appreciation from N461.67/$1 recorded on Wednesday. 

  • The opening indicative rate closed at N459.6/$1 on Thursday, 5th January 2023. 
  • Furthermore, an exchange rate of N462/$1 was the highest rate recorded during intra-day trading before it settled at N461.5/$1, while it traded for as low as N440/$1 during intra-day trading. 
  • A sum of $68.14 million in FX value exchanged hands at the I&E window on Thursday, which is 1.72% lower than the $69.33 million that was traded in the previous session. 

Naira improves at the black market to N730/$1 on 5th January 2023 

The exchange rate between the naira and the US dollar appreciated on Thursday, 5th January 2023 trading at an average of N730/$1 at the black market, an improvement of 0.82% from N736/$1 that was recorded in the last three trading days.  

This is according to information from black market traders who spoke to Nairametrics. 

Similarly, the exchange rate at the P2P cryptocurrency Exchange strengthened on Thursday morning, trading at a minimum of N743.79/$1, a 0.69% appreciation compared to N748.95/$1 recorded in the previous day session. 

Meanwhile, the naira depreciated against the US dollar at the official investors and exporters (I&E) window to close at N461.67/$1 on Wednesday, 4th January 2022, a 0.15% depreciation from the N461/$1 recorded on Tuesday. 

A total of $69.33 million was traded at the official market on Wednesday, a significant drop of 54.82% compared to the $153.45 million that exchanged hands the previous day. Nigeria’s external reserve stood at $37.07 billion as of 3rd January 2023, a decrease of 0.04% from the $36.08 billion recorded on 30th December 2022. 

Trading at the official NAFEX window 

The exchange rate at the official market closed at N461.67/$1 on Wednesday, 4th January 2023, representing a 0.15% depreciation from N461/$1 recorded on Tuesday. 

  • The opening indicative rate closed at N456.17/$1 on Wednesday, 4th January 2023. 
  • Furthermore, an exchange rate of N462/$1 was the highest rate recorded during intra-day trading before it settled at N461.67/$1, while it traded for as low as N425/$1 during intra-day trading. 
  • A sum of $69.33 million in FX value exchanged hands at the I&E window on Wednesday, which is 54.82% lower than the $153.45 million that was traded in the previous session. 

Black market exchange rate trades at N736/$1 on 3rd January 2023

The exchange rate between the naira and the US dollar remained flat on Wednesday, 4th January 2023 trading at an average of N736/$1 at the black market for the third straight day.  

This is according to information from black market traders who spoke to Nairametrics. 

On the other hand, the exchange rate at the P2P cryptocurrency Exchange depreciated on Wednesday morning, trading at a minimum of N748.95/$1, a 0.96% depreciation compared to N741.79/$1 recorded yesterday. 

Meanwhile, the exchange rate at the official investors and exporters (I&E) window started the year on a positive note with a 0.11% gain to close at N461/$1 from N461.5/$1 recorded as of the last session of 2021. 

A total of $153.45 million was traded at the exchange on Tuesday, a decrease of 12.93% compared to the $176.24 million that exchanged hands the previous day. Nigeria’s external reserve stood at $37.08 billion as of 30th December 2022, a decrease of 0.02% from the $36.09 billion recorded as of the previous day. 

Trading at the official NAFEX window 

The exchange rate at the official market closed at N461/$1 on Tuesday, 3rd January 2023, representing a 0.11% appreciation from N461.5/$1 recorded last week Friday. 

  • The opening indicative rate closed at N459.25/$1 on Tuesday, 3rd January 2023. 
  • Furthermore, an exchange rate of N462/$1 was the highest rate recorded during intra-day trading before it settled at N461/$1, while it traded for as low as N440/$1 during intra-day trading. 
  • A sum of $153.45 million in FX value exchanged hands at the I&E window on Tuesday, which is 12.93% lower than the $176.24 million that was traded in the previous session. 

Black exchange rate remains stable at N736/$1 on 3rd January 2023

The exchange rate between the naira and the US dollar remained flat on Tuesday, 3rd January 2023 trading at an average of N736/$1 at the black market, the same as recorded as of the close of trading activities last week Friday. 

This is according to information from black market traders who spoke to Nairametrics. 

On the flip side, the exchange rate at the P2P cryptocurrency Exchange depreciated on Tuesday morning, trading at a minimum of N741.79/$1, a 0.87% depreciation compared to N735.42/$1 recorded on Friday, last week 

Meanwhile, the exchange rate at the official investors and exporters (I&E) window appreciated slightly on Friday, 30th December 2022 to close at N461.5/$1, although it represents 5.7% downturn from 2022 year. 

A total of $176.24 million was traded at the exchange on Friday, an increase of 23.95% compared to the $142.19 million that exchanged hands the previous day. Nigeria’s external reserve stood at $37.09 billion as of 29th December 2022, an increase of 0.04% from the $36.08 billion recorded as of the previous day. 

Trading at the official NAFEX window 

The exchange rate at the official market closed at N461.5/$1 on Friday, 30th December 2022, representing a 0.04% appreciation from N461.67/$1 recorded on Thursday. 

  • The opening indicative rate closed at N451.5/$1 on Friday, 30th December 2022. 
  • Furthermore, an exchange rate of N462/$1 was the highest rate recorded during intra-day trading before it settled at N461.5/$1, while it traded for as low as N425/$1 during intra-day trading.
  • A sum of $176.24 million in FX value exchanged hands at the I&E window on Friday, which is 23.95% higher than the $142.19 million that was traded in the previous session. 
  • NAIRAMETRIC