The exchange rate between the naira and the US dollar fell on the black market on Thursday, 27th October 2022 to trade at an average of N765/$1 from N760/$1 recorded on Wednesday.

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

Also, the naira at the cryptocurrency peer-to-peer FX market depreciated by 0.99% to trade at a minimum of N763.78/$1 on Thursday morning, from N756.30/$1 that it traded at the same time on Wednesday, 26th October 2022.

However, the exchange rate between the naira and the US dollar at the Investors and Exporters window remained stable on Wednesday as it closed at N441.67/$1, the same as recorded in the previous trading session.

Meanwhile, the FX turnover at the I&E window that exchanged hands stood at $81.04 million on Wednesday, representing an increase of 2.05% when compared to $79.41 million that was traded on Tuesday.

Also, Nigeria’s external reserve stood at $37.52 billion as of 25th October 2022, representing a decline of 0.10% in comparison to $37.56 billion recorded the previous day.

The exchange rate at the official market closed at N441.67/$1 on Wednesday, 26th October 2022, the same closing rate recorded on the previous trading day.

The opening indicative rate closed at N440.20/$1 on Wednesday, 26th October 2022.

Furthermore, an exchange rate of N447/$1 was the highest rate recorded during intra-day trading before it settled at N441.67/$1, while it traded as low as N423/$1 during intra-day trading.

A total of $81.04 million in FX value was traded in the Investors and Exporters window on Wednesday, which is 2.05% higher than the $79.41 million traded on Tuesday.

The exchange rate between the naira and the US dollar fell at the black market to trade at an average of N760/$1 at the black market on Wednesday, 26th October 2022, this represents an 0.66% depreciation from N755/$1 recorded on Tuesday.

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 0.76% to trade at a minimum of N756.3/$1 on Wednesday morning, as against N762.1/$1 that it traded at the same time on Tuesday, 25th October 2022.

However, the exchange rate between the naira and the US dollar at the I&E official window fell slightly by 0.07% to close at N441.67/$1 on Tuesday, 25th October 2022, when compared to N441.38/$1 recorded in the previous trading session.

Meanwhile, the FX turnover at the I&E window appreciated marginally by 101.19% to $79.41 million on Tuesday when compared to $39.47 million that was traded on Monday.

Also, Nigeria’s external reserve stood at $37.56 billion as of 24th October 2022, representing a decline of 0.24% in contrast to $37.65 billion recorded the previous day.