Exchange rates between naira and dollar today

The exchange rate between the naira and the US dollar appreciated by 0.26% to trade at an average of N753/$1 at the black market on Monday, 24th October 2022, compared to N755/$1 recorded last week Friday.

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 traded at a minimum of N752.79/$1 on Monday morning, representing a 0.11% depreciation when compared to N751.99/$1 it traded at the same time on Friday, 21st October, 2022.

Also, the exchange rate between the naira and the US dollar at the I&E official window fell by 0.12% to close at N441.67/$1 on Friday, 21st October 2022, when compared to N441.13/$1 recorded in the previous trading session.

Meanwhile, the FX turnover at the I&E window dipped by 36.89% to $68.51 million on Friday from $108.56 million that was traded on Thursday.

Also, Nigeria’s external reserve stood at $37.68 billion as of 20th October 2022, representing a depreciation of 0.09% decline in contrast to $37.71 billion recorded the previous day.

Trading at the official NAFEX window
The exchange rate at the official market closed at N441.67/$1 on Friday, 21st October 2022, a 0.12% depreciation from N441.13/$1 recorded in the previous trading day.

The opening indicative rate closed at N440.33/$1 on Friday, 21st October 2022.

Furthermore, an exchange rate of N443.5/$1 was the highest rate recorded during intra-day trading before it settled at N441.67/$1, while it traded as low as N437/$1 during intra-day trading.

A total of $68.51 million in FX value was traded in the Investors and Exporters window on Friday, which is 36.89% lower than the $108.56 million traded on Thursday.