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Exchange rates between Naira and Dollar today

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2 years ago

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The exchange rate between the naira and the US dollar depreciated marginally to N730/$1 at the black market, on Friday, 7th October 2022, representing a decline of 0.27% from N728/$1 recorded in the previous trading session.

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

On the other hand, the naira at the cryptocurrency peer-to-peer FX market appreciated slightly by 0.02% to trade at a minimum of N729.8/$1 on Friday morning, against N729.96/$1 traded at the same time on Thursday, 6th October 2022.

Also, the exchange rate between the naira and the US dollar at the I&E official window appreciated slightly by 0.2% to close at N436.63/$1 on Thursday, 6th October 2022, from N437.5/$1 recorded on Wednesday.

A sum of $100.74 million exchanged hands on Thursday, representing an increase of 43.06% from $70.42 million that was traded in the previous session.

Nigeria’s external reserve stood at $38.11 billion as of 5th October 2022, representing a slight decline of 0.08% when compared to $38.14 billion recorded as of the previous day.

The nation’s foreign reserve has been on a downward trend due to the continuous intervention by the CBN in the official market to maintain the stability of the local currency.

The exchange rate at the official market closed at N436.63/$1 on Thursday, 6th October 2022, from N437.5/$1 recorded in the previous session.

The opening indicative rate closed at N437/$1 on Thursday, 6th October 2022, the same as recorded on Wednesday.


Furthermore, an exchange rate of N442/$1 was the highest rate recorded during intra-day trading before it settled at N436.63/$1, while it traded as low as N434.61/$1 during intra-day trading.


A total of $100.74 million in FX value was traded in the Investors and Exporters window on Thursday, which is 43.06% higher than the $70.42 million that exchanged hands in the last trading session.

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Naira depreciates to N1,770/$ in parallel market

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6 hours ago

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November 26, 2024 1:04 pm

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The Naira yesterday depreciated to N1,770 per dollar in the parallel market from N1,750 per dollar last weekend.

Similarly, the Naira depreciated to N1,675.62 per dollar in the Nigerian Autonomous Foreign Exchange Market, NAFEM.

Data from FMDQ showed that the indicative exchange rate for NAFEM rose to N1,675.62 per dollar from N1,652.62 per dollar last weekend, indicating N23 depreciation for the naira.

The volume of dollars traded (turnover) fell by 55.2 percent to $108.79 million from $243.05 million traded last week Friday.

Consequently, the margin between the parallel market and NAFEM rate widened to N117.38 per dollar from N97.38 per dollar last weekend.

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Port Harcourt Refinery begins crude oil processing

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6 hours ago

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November 26, 2024 12:52 pm

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The Nigeria National Petroleum Company Limited (NNPCL) has confirmed that the Port Harcourt Refinery in Rivers State has commenced crude oil processing.

The Chief Corporate Communications Officer of the compaanyy, Femi Soneye, broke the news on Tuesday.

Soneye revealed that the refinery will operate at 60 percent capacity and process 60,000bpd.

https://twitter.com/FM_Soneye/status/1861330633831620917?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1861330633831620917%7Ctwgr%5E776845f88f6fa6dd3c70082f4da1ee2632656999%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fwww.vanguardngr.com%2F2024%2F11%2Fbreaking-port-harcourt-refinery-begins-crude-oil-processing%2F

“Today marks a monumental achievement for Nigeria as the Port Harcourt Refinery officially commences crude oil processing. This groundbreaking milestone signifies a new era of energy independence and economic growth for our nation,” Soneye said on Tuesday.

“Hearty congratulations to President Bola Ahmed Tinubu, the NNPC Board, and the exceptional leadership of GCEO Mele Kyari for their unwavering commitment to this transformative project. Together, we are reshaping Nigeria’s energy future!”

Soneye added that truck loading will commence on Tuesday (today), adding that the NNPCL is also “working tirelessly to bring the Warri Refinery back online soon”.

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Nigeria’s GDP rate grew by 3.46% in Q3 2024, says NBS

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1 day ago

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November 25, 2024 1:29 pm

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The National Bureau of Statistics (NBS) says Nigeria’s annual gross domestic product (GDP) grew by 3.46 percent in the third quarter (Q3) of 2024.

The NBS, in its GDP report published on Monday, said the growth rate is higher than the 3.19 percent recorded in Q2 2024.

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