Dollar Exchanges For 750 Naira At Black Market, Thursday December 8

The exchange rate between the naira and the US dollar closed at an average of 750 naira 750/$1 on Thursday, 8th December 2022 at the black market, depreciating by 1.63% from N738/$1 recorded in the last trading session and the lowest level since the beginning of the month.

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

Also, naira recorded a 0.0.93% depreciation against the US dollar at the P2P cryptocurrency exchange, trading at a minimum of N753.94/$1 on Thursday evening, compared to N747/$1 recorded on Wednesday, 7th December 2022.

Similarly, the exchange rate at the official Investors and Exporters window recorded a slight depreciation of 0.01% to close at N445.83/$1 on Wednesday, 7th December 2022 from N445.8/$1 recorded in the previous day.

Meanwhile, a sum of $127.78 million exchanged hands at the market on Wednesday.

Nigeria’s external reserve dipped further on Wednesday, 7th December 2022 to stand at $36.96 billion, from $36.97 billion recorded as of the previous day.

Trading at the official NAFEX window

The exchange rate at the official market closed at N445.83/$1 on Wednesday, 7th December 2022, representing a 0.01% depreciation compared to N445.8/$1 recorded in the previous trading session.

The opening indicative rate closed at N444.25/$1 on Wednesday, 7th December 2022.

Furthermore, an exchange rate of N452/$1 was the highest rate recorded during intra-day trading before it settled at N445.83/$1, while it traded for as low as N426/$1 during intra-day trading.

A sum of $127.78 million in FX value was traded at the Investors and Exporters, a 19.13% decrease compared to $180.29 million that exchanged hands in the previous session.

Source: Nairametrics

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