The exchange rate between the naira and the US dollar at the black market fell to N743/$1 on Wednesday, 19th October 2022, a slight depreciation of 0.13% from N742/$1 recorded in the previous trading session. This is according to information from black market traders who spoke to newsmen.

On the other hand, the naira at the cryptocurrency peer-to-peer FX market appreciated by 0.02% to trade at a minimum of N746.57/$1 on Wednesday morning, against N746.7/$1 traded at the same time on Tuesday, 18th October 2022.

Meanwhile, the exchange rate between the naira and the US dollar at the I&E official window closed at N441.25/$1 on Tuesday, 18th October 2022, same as recorded in the previous trading session.

However, the total of FX traded at the I&E window increased by 60.85% to $74.33 million on Tuesday from $46.21 million that exchanged hands on Monday.

Nigeria’s external reserve stood at $37.796 billion as of 17th October 2022, a decline of 0.23% when compared to $37.88 billion recorded 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 N441.25/$1 on Tuesday, 18th October 2022, same as N441.25/$1 recorded on the previous trading day.

The opening indicative rate closed at N440/$1 on Tuesday, 18th October 2022.
Furthermore, an exchange rate of N443/$1 was the highest rate recorded during intra-day trading before it settled at N441.25/$1, while it traded as low as N420/$1 during intra-day trading.
A total of $74.33 million in FX value was traded in the Investors and Exporters window on Tuesday, which is 60.85% higher than the $46.21 million traded on Monday.

The exchange rate between the naira and the US dollar at the black market remained flat at N742/$1 on Tuesday, 18th October 2022, having depreciated by 1.5% 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 FXmarket depreciated by 0.81% to trade at a minimum of N746.7/$1 on Tuesday morning, against N740.67/$1 traded at the same time on Monday, 17th October 2022.

Meanwhile, the exchange rate between the naira and the US dollar at the I&E official window closed at N441.25/$1 on Monday, 17th October 2022, representing a slight gain of 0.03% compared to N441.38/$1 recorded in the previous trading session.