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.
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.
READ ALSO: Banks ‘ll still accept old naira notes after deadline –Emefiele
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.
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.
You may be interested
Double nomination: Appeal Court dismisses PDP suit against Tinubu, ShettimaWebby - March 25, 2023
The Court of Appeal, Abuja, Friday evening, dismissed an appeal by Peoples Democratic Party (PDP), seeking the disqualification of Sen.…
CBN reacts after viral news of suspending accounts of OPAY, PALMPAYWebby - March 25, 2023
CBN has responded to viral news claiming that it suspended the accounts of Fintech companies OPAY and PALMPAY.Both OPAY and…
Suspension by PDP? I dont Care! No regrets for supporting APC – AnyimWebby - March 25, 2023
Anyim Pius Anyim Anyim Pius Anyim, a former Senate President and one time Secretary to the Government of the Federation…
Leave a Comment