Dollar, Naira Exchange Rate For December 12, 2022

The exchange rate between the naira and the US dollar at the parallel market traded at an average of N745/$1 on Monday, 12th December 2022, the same as recorded in the previous trading session.

The latest exchange rate of the nation’s currency in the parallel market was what was gathered by Nairametrics, a financial website operating out of Nigeria.

Meanwhile, the local currency strengthened by 0.7% against the US dollar at the P2P cryptocurrency exchange, trading at a minimum of N747.65/$1 on Monday morning, compared to N752.95/$1 recorded on Friday, 9th December 2022.

Besides the news of the latest black market exchange rate for the dollar and naira on Monday, December 12, 2022 it has also emerged that  the exchange rate at the official Investors and Exporters window depreciated by 0.11% to close at N446.5/$1 on Friday, 9th December 2022 compared to N446/$1 recorded in the previous trading session.

Forex turnover also declined by 29.86% to $162.17 million on Friday, in contrast to $231.2 million that was traded in the previous session. Nigeria’s external reserve dipped further on Thursday, 8th December 2022 to stand at $36.96 billion, from $36.97 billion recorded as of the previous day.

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