The exchange rate between the Naira and the US dollar improved at the black market on Tuesday, 20th December 2022, trading at an average of N745/$1, representing a 0.13% appreciation compared to N746/$1 recorded on Monday.
This is according to information from black market traders in Lagos Nigeria. According to the traders, they buy FX between N735/$1 and N740/$1, while they sell at a minimum of N743/$1 and a maximum of N745/$1.
Likewise, the exchange rate between the naira and the US dollar at the P2P cryptocurrency market appreciated by 0.71% to trade at a minimum of N744.48/$1 on Tuesday morning, from N749.8/$1 recorded during the previous trading session.
Meanwhile, the exchange rate at the official Investors and Exporters window remained closed flat at N451.5/$1 on Monday, 19th December 2022, the same as recorded on Friday, the previous week.
A total of $69.18 million was traded at the exchange on Monday, which is 80.52% lower than the $355.12 million that exchanged hands on Friday, 16th December 2022. Meanwhile, the nation’s external reserve stood at $36.94 billion as of 16th December 2022, a 0.02% decline from $36.95 billion recorded as of the previous day.
