Naira appreciates barely at black Market at N677/

Naira appreciates barely at black Market at N677/$1

Wednesday, twenty fourth August 2022: The trade fee between the naira and the US greenback closed at N431/$1 on the Traders and Exporters window, the place foreign exchange is traded formally.

Naira depreciated additional in opposition to the US greenback on Wednesday, representing the third consecutive day of decline because the trade fee dipped by 0.08% to shut at N431/$1 in comparison with N430.67/$1 recorded within the earlier buying and selling session.

Equally, the trade fee on the cryptocurrency peer-to-peer FX trade traded at N696/$1 on Thursday morning, a 0.45% depreciation when in comparison with N692.9/$1 recorded as of the identical time on Wednesday.

In the meantime, Nigeria’s exterior reserves improved barely by 0.003% on Tuesday, twenty third August 2022, to face at $38.941 billion from $38.94 billion recorded within the earlier buying and selling commerce. The reserve degree had dropped considerably year-to-date because of the fixed intervention by the CBN within the official FX market in a bid to handle trade fee volatility. Nevertheless, improved non-oil export earnings is starting to raise the reserves, albeit very low.

Buying and selling on the official NAFEX window

The trade fee on the official market closed at N431/$1 to a greenback on Wednesday, twenty fourth August 2022 recording a dip of 0.08% in comparison with N430.67/$1 recorded on Tuesday, twenty third August 2022.

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  • The opening indicative fee closed at N428.67/$1 on Wednesday, twenty fourth August 2022, from N429.07/$1 recorded on Tuesday.
  • Moreover, an trade fee of N444/$1 was the best fee recorded throughout intra-day buying and selling earlier than it settled at N431/$1, whereas it traded as little as N417/$1 throughout intra-day buying and selling.
  • A complete of $131.3 million in FX worth was traded on Wednesday, which is 25.3% decrease than the $175.67 million that exchanged arms on Tuesday, twenty third August 2022.

Naira falls throughout foreign exchange markets as international reserve positive aspects

Tuesday, twenty third August 2022: The trade fee between the naira and the US greenback closed at N430.67/$1 on the official international trade market.

Naira depreciated in opposition to the US greenback on Tuesday, representing the second consecutive bearish motion after the trade fee dipped by 0.29% to shut at N430.67/$1 in comparison with N429.43/$1 recorded within the earlier buying and selling session on the Traders and Exporters window.

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In the identical vein, the trade fee on the cryptocurrency peer-to-peer FX trade traded at N692.9/$1 on Wednesday morning, a 0.28% depreciation when in comparison with N691/$1 recorded as of the identical time on Tuesday.

Additionally, naira dipped in opposition to the US greenback on the parallel market on Tuesday, depreciating by 0.15% to shut at N688/$1 from N687/$1 recorded on Monday, twenty second August 2022. That is in line with data from black market FX merchants.

Nigeria’s exterior reserves improved barely by 0.07% on Monday, twenty second August 2022, to face at $38.94 billion from $38.91 billion recorded within the earlier buying and selling commerce. The reserve degree had dropped considerably year-to-date because of the fixed intervention by the CBN within the official FX market in a bid to handle trade fee volatility. Nevertheless, improved non-oil export earnings is starting to raise the reserves, albeit very low.

Buying and selling on the official NAFEX window

The trade fee on the official market closed at N430.64/$1 to a greenback on Tuesday, twenty third August 2022 recording a dip of 0.29% in comparison with N429.43/$1 recorded on Monday, twenty second August 2022.

  • The opening indicative fee closed at N429.07/$1 on Tuesday, twenty third August 2022, the identical as recorded within the earlier buying and selling session.
  • Moreover, an trade fee of N444/$1 was the best fee recorded throughout intra-day buying and selling earlier than it settled at N430.67/$1, whereas it traded as little as N417/$1 throughout intra-day buying and selling.
  • A complete of $175.67 million in FX worth was traded on Tuesday, which is 8.48% greater than the $161.94 million that exchanged arms on Monday, twenty second August 2022.

Naira depreciates at P2P market to N691/$1 regardless of 222% surge in foreign exchange provide

Monday, twenty second August 2022: The trade fee between the naira and the US greenback closed at N429.43/$1 on the official international trade market.

The trade fee dipped barely to shut at N429.43/$1 in comparison with N429.05/$1 recorded on Friday nineteenth August, 2022, representing a 0.09% depreciation. In the meantime, foreign exchange provide surged by 222.3% to $161.94 million from 50.22 million that exchanged arms within the earlier buying and selling session.

Equally, Naira traded at N691/$1 on Tuesday morning, twenty third August 2022 on the peer-to-peer FX market, indicating a depreciation of 0.16% in comparison with N689.9/$1 recorded within the earlier buying and selling session.

Nigeria’s exterior reserves improved barely by 0.012% on Monday, twenty second August 2022, to face at $38.912 billion from $38.907 billion recorded within the earlier buying and selling commerce. The reserve degree had dropped considerably year-to-date because of the fixed intervention by the CBN within the official FX market in a bid to handle trade fee volatility. Nevertheless, improved non-oil export earnings is starting to raise the reserves, albeit very low.

Buying and selling on the official NAFEX window

The trade fee on the official market closed at N429.43 to a greenback on Monday, twenty second August 2022 recording a dip of 0.09% in comparison with N429.05/$1 recorded on Friday, nineteenth August 2022.

  • The opening indicative fee closed at N429.07/$1 on Monday, twenty second August 2022, in comparison with N428/$1 recorded within the final buying and selling session.
  • Moreover, an trade fee of N432/$1 was the best fee recorded throughout intra-day buying and selling earlier than it settled at N429.43/$1, whereas it traded as little as N415/$1 throughout intra-day buying and selling.
  • A complete of $161.94 million in FX worth was traded on Monday, which is 222.46% greater than the $50.22 million that exchanged arms on Friday, nineteenth August 2022.

Naira appreciates barely at black market, trades at N677/$1

Wednesday, seventeenth August 2022: The trade fee between the naira and the US greenback closed at N429.38/$1 on the Traders and Exporters (I&E) window, the place foreign exchange is traded formally.

Naira appreciated barely, with a acquire of 0.3% on Wednesday to shut at N429.38 on the official market in comparison with N430.67/$1 recorded within the earlier buying and selling session. Notably, foreign exchange turnover additionally elevated by 134.4% to face at $118.14 million traded on Wednesday from $50.4 million traded on Tuesday, sixteenth August 2022.

Equally, Naira traded at N679.5/$1 within the early hours of Thursday, 18th August 2022 on the peer-to-peer FX market, indicating a 0.13% appreciation in opposition to the US greenback in comparison with N680.4/$1 recorded within the earlier buying and selling session.

Additionally, the trade fee on the parallel market appreciated marginally on Thursday, 18th August 2022, with a acquire of 0.44% to commerce at N677/$1 from N680/$1 recorded on Wednesday. That is in accordance ot data from black market FX merchants throughout the nation.

Nigeria’s exterior reserves on Tuesday, sixteenth August 2022, dipped barely by 0.01% to face at $38.894 billion from $38.896 billion recorded as of the earlier week. The reserve degree had been on a downturn in latest instances, because of the fixed intervention by the CBN within the official FX market in a bid to handle trade fee volatility.

Buying and selling on the official NAFEX window

The trade fee on the official market appreciated on Wednesday, seventeenth August 2022 by 0.3% to shut at N429.38 to a greenback in comparison with N430.67/$1 recorded on Tuesday, sixteenth August 2022.

  • The opening indicative fee closed at N427.58/$1 on Wednesday, seventeenth August 2022, in comparison with N429.88/$1 recorded within the earlier buying and selling session.
  • Moreover, an trade fee of N444/$1 was the best fee recorded throughout intra-day buying and selling earlier than it settled at N429.38/$1, whereas it traded as little as N417/$1 throughout intra-day buying and selling.
  • A complete of $118.14 million in FX worth exchanged arms on Wednesday, which is 134.4% greater than the $50.4 million that was traded within the earlier buying and selling session.

Nigeria’s international reserve continues enchancment as Naira dips additional at I&E window 

Tuesday, sixteenth August 2022: The trade fee between the naira and the US greenback closed at N430.67/$1 on the Traders and Exporters (I&E) window, the place foreign exchange is traded formally. 

Naira depreciated by 0.16% to shut buying and selling at N430.67 on the official market. This follows a 62.5% decline within the quantity of traded FX available in the market. Notably, foreign exchange turnover fell from $134.3 million traded on Monday to $50.4 million on Tuesday, sixteenth August 2022. 

Equally, Naira depreciated on Wednesday morning, buying and selling at a minimal of N680.4/$1 in comparison with N676.38/$1 recorded within the earlier buying and selling session. 

Nigeria’s exterior reserves on Monday, fifteenth August 2022, continued their uptrend after gaining 0.03% to face at $38.89 billion from $38.88 billion recorded as of the earlier week. The reserve degree had been on a downturn in latest instances, because of the fixed intervention by the CBN within the official FX market in a bid to handle trade fee volatility. 

Buying and selling on the official NAFEX window 

The trade fee on the official market depreciated on Tuesday, sixteenth August 2022 by 0.16% to shut at N430.67 to a greenback in comparison with N430/$1 recorded on Monday, fifteenth August 2022. 

  • The opening indicative fee closed at N429.88/$1 on Tuesday, sixteenth August 2022, in comparison with N429.7/$1 recorded within the earlier buying and selling session. 
  • Moreover, an trade fee of N432/$1 was the best fee recorded throughout intra-day buying and selling earlier than it settled at N430.67/$1, whereas it traded as little as N417/$1 throughout intra-day buying and selling. 
  • A complete of $50.4 million in FX worth exchanged arms on Tuesday, which is 62.47% decrease than the $134.3 million that was traded within the earlier buying and selling session. 

Official trade fee closes at N430/$1 as FX provide surges by 190% to $134.30 million

Monday, fifteenth August 2022: The trade fee between the naira and the US greenback closed at N430/$1 on the Traders and Exporters (I&E) window, the place foreign exchange is traded formally.

Naira depreciated by 0.09% on Monday, fifteenth August 2022 to shut buying and selling at N430/$1 from N429.62/$1 recorded within the earlier buying and selling session. Nevertheless, foreign exchange provide inclined considerably by 190% to $134.3 million from $46.31 million that exchanged arms on Friday, twelfth August 2022.

Alternatively, Naira recorded a marginal appreciation on Tuesday morning, buying and selling at a minimal of N676.38/$1 in comparison with N678.98/$1 recorded within the earlier buying and selling session.

In the meantime, on the parallel market, the Naira fell to N678/$1 on Monday, closing with a 0.44% depreciation in comparison with N675/$1 recorded within the earlier buying and selling session as FX merchants continued to lament the shortage of foreign exchange and sustained excessive demand. That is in line with data obtained from black market FX merchants.

Nigeria’s exterior reserves recorded a uncommon acquire on Friday, twelfth August 2022, after the reserve degree improved barely by 0.01% to face at $38.884 billion, from $38.881 billion recorded as of the day gone by. The reserve degree had been on a downturn in latest instances, because of the fixed intervention by the CBN within the official FX market in a bid to handle trade fee volatility.

Buying and selling on the official NAFEX window

The trade fee on the official market depreciated on Monday, fifteenth August 2022 by 0.09% to shut at N430 to a greenback as in opposition to the N429.62/$1 recorded on Friday, twelfth August 2022.

  • The opening indicative fee closed at N429.70/$1 on Monday, fifteenth August 2022, in comparison with N429.67/$1 recorded within the earlier buying and selling session.
  • Moreover, an trade fee of N444/$1 was the best fee recorded throughout intra-day buying and selling earlier than it settled at N430/$1, whereas it traded as little as N417/$1 throughout intra-day buying and selling.
  • A complete of $134.30 million in FX worth exchanged arms on Monday, which is 190% greater than the $46.31 million that was traded within the earlier buying and selling session.

Black market fee depreciates to N675/$1 as international reserve falls sharply beneath $39 billion

Tuesday, ninth August 2022: The trade fee between the naira and the US greenback closed at N428.75/$1 on the Traders and Exporters (I&E) window, the place foreign exchange is traded formally.

Naira appreciated by 0.52% on Tuesday, ninth August 2022 to shut buying and selling at N428.75/$1 from N431/$1 recorded within the earlier buying and selling session. On the flip aspect, foreign exchange provide declined marginally by 1.75% to $113.64 million from $115.67 million that was traded on Monday, eighth August 2022.

Alternatively, on the peer-to-peer market, Naira fell to N681.84/$1 on Wednesday morning from N670.4/$1 recorded as of the identical time on Tuesday, representing a 1.71% decline in comparison with the day gone by.

Equally on the black market, Naira depreciated to N675/$1 on Tuesday, closing with a 1.5% decline in comparison with N665/$1 recorded within the earlier buying and selling session as FX merchants lament the shortage of foreign exchange and sustained excessive demand. That is in line with data obtained from black market FX merchants.

Nigeria’s exterior reserves fell sharply beneath the $39 billion mark on Monday, eighth August 2022, dropping by 0.24% to face at $38.95 billion from $39.05 billion recorded as of the day gone by. That is largely because of the fixed intervention by the CBN within the Traders and Exporters window, to handle trade fee volatility.

Buying and selling on the official NAFEX window

The trade fee on the official market appreciated on Tuesday, ninth August 2022 by 0.52% to shut at N428.75 to a greenback as in opposition to the N431/$1 recorded on Monday, eighth August 2022.

  • The opening indicative fee closed at N429.58/$1 on Tuesday, ninth August 2022, in comparison with N429/$1 recorded within the earlier buying and selling session.
  • Moreover, an trade fee of N444/$1 was the best fee recorded throughout intra-day buying and selling earlier than it settled at N428.75/$1, whereas it traded as little as N417/$1 throughout intra-day buying and selling.
  • A complete of $113.64 million in FX worth exchanged arms on Tuesday, which is 1.75% decrease than the $115.67 million that was traded within the earlier buying and selling session.

Naira falls to N431/$1 at I&E window regardless of $115.7 million foreign exchange turnover

Monday, eighth August 2022: The trade fee between the naira and the US greenback closed at N431/$1 on the Traders and Exporters (I&E) window, the place foreign exchange is traded formally.

Naira began the week on a bearish notice, with a 0.67% depreciation to shut at N431/$1 in comparison with N428.12/$1 recorded within the earlier buying and selling session. That is regardless of a 60.83% enhance within the quantity of foreign exchange traded available in the market at $115.67 million.

In the identical vein, on the peer-to-peer market, naira fell to N670.4/$1 on Tuesday morning from N662.4/$1 recorded as of the identical time on Monday, representing a 1.21% decline in comparison with the day gone by.

Nigeria’s exterior reserves rose for the second time in a row, after dropping consecutively for nearly a month. The reserve degree gained 0.03% to face at $39.09 billion as of Thursday, 4th August 2022 from $39.07 billion recorded as of the day gone by.

Buying and selling on the official NAFEX window

The trade fee on the official market depreciated on Monday, eighth August 2022 by 0.67% to shut at N431 to a greenback as in opposition to the N428.12/$1 recorded on Friday, fifth August 2022.

  • The opening indicative fee closed at N429/$1 on Monday, eighth August 2022, the identical as recorded within the earlier buying and selling session.
  • Moreover, an trade fee of N444/$1 was the best fee recorded throughout intra-day buying and selling earlier than it settled at N431/$1, whereas it traded as little as N415/$1 throughout intra-day buying and selling.
  • A complete of $115.67 million in FX worth exchanged arms on Monday, which is 60.83% greater than the $71.92 million that was traded within the earlier buying and selling session.

Naira appreciates at I&E window as international reserves data first acquire in two weeks

Thursday, 4th August 2022: The trade fee between the naira and the US greenback closed at N428.12/$1 on the Traders and Exporters (I&E) window, the place foreign exchange is traded formally.

Naira closed greater on Thursday, with a 0.25% appreciation in opposition to the US greenback to shut at N428.12/$1 in comparison with N429.2/$1 recorded within the earlier buying and selling session. A complete of $110.22 million was traded on Thursday, representing a 100.955% lower when in comparison with the $123.78 million traded on Wednesday.

Alternatively, on the peer-to-peer market, naira fell to N651/$1 on Friday morning from N616.66/$1 recorded as of the identical time on Thursday, representing a 5.6% decline in comparison with the day gone by.

Nigeria’s exterior reserves rose for the primary time in over two weeks, gaining marginally by 0.01% to face at $39.07 billion from $39.07 billion recorded in the day gone by. The reserve degree had depreciated for eleven consecutive days, largely because of the fixed intervention by the apex financial institution within the I&E window.

Buying and selling on the official NAFEX window

The trade fee on the official market appreciated on Thursday, 4th August 2022 by 0.25% to shut at N428.12 to a greenback as in opposition to the N430.67/$1 recorded on Wednesday, third August 2022.

  • The opening indicative fee closed at N428.33/$1 on Thursday, 4th August 2022 from N427.9/$1 recorded within the earlier buying and selling session.
  • Moreover, an trade fee of N444/$1 was the best fee recorded throughout intra-day buying and selling earlier than it settled at N428.12/$1, whereas it traded as little as N415/$1 throughout intra-day buying and selling.
  • A complete of $110.22 million in FX worth exchanged arms on Thursday, which is 10.95% decrease than the $123.78 million that was traded within the earlier buying and selling session.

Change fee appreciates to N616/$1 at peer-to-peer FX market

Wednesday, third August 2022: The trade fee between the naira and the US greenback closed at N429.2/$1 on the Traders and Exporters (I&E) window, the place foreign exchange is traded formally.

Naira closed on a constructive notice on Wednesday, with a 0.34% appreciation in opposition to the US greenback to shut at N429.2/$1 in comparison with N430.67/$1 recorded within the earlier buying and selling session. A complete of $123.78 million was traded available in the market on Wednesday, representing a 21.9% enhance when in comparison with the $158.68 million traded on Tuesday.

In the identical vein, the trade fee on the black market appreciated on Wednesday to shut at N665/$1 in comparison with N670/$1 recorded on Tuesday, representing a 0.75% forex appreciation in opposition to the US greenback.

Equally, on the peer-to-peer market, naira rose to N616.66/$1 on Thursday morning from N652.5/$1 recorded on Wednesday, representing a rally of 5.5% in comparison with the day gone by. That is following a stunning depreciation recorded within the earlier week, when the naira fell to a report N705/$1 on account of FX shortage and panic shopping for.

In the meantime, Nigeria’s exterior reserves recorded its eleventh consecutive decline on Tuesday, dropping by 0.1% to face at $39.07 billion from $39.1 billion recorded as of Monday, 1st August 2022. The decline within the nation’s exterior reserve might be attributed to the elevated circulate of FX within the official market up to now two days.

Buying and selling on the official NAFEX window

The trade fee on the official market appreciated on Wednesday, third August 2022 by 0.34% to shut at N429.2 to a greenback as in opposition to the N430.67/$1 recorded on Tuesday, 2nd August 2022.

  • The opening indicative fee closed at N427.9/$1 on Wednesday, third August 2022 from N427.75/$1 recorded within the earlier buying and selling session.
  • Moreover, an trade fee of N444/$1 was the best fee recorded throughout intra-day buying and selling earlier than it settled at N429.2/$1, whereas it traded as little as N414/$1 throughout intra-day buying and selling.
  • A complete of $123.78 million in FX worth exchanged arms on Wednesday, which is 21.9% decrease than the $158.68 million that was traded within the earlier buying and selling session.

Naira falls at I&E window regardless of a 163% surge in foreign exchange provide

Tuesday, 2nd August 2022: The trade fee between the naira and the US greenback closed at N430.67/$1 on the official Traders and Exporters (I&E) window.

Naira closed on a bearish notice on Tuesday, falling by 0.42% to shut at N430.67/$1 from N428.88/$1 recorded within the earlier buying and selling session. That is regardless of the 163.3% enhance in foreign exchange turnover to $158.68 million.

Alternatively, the trade fee on the black market recorded a major appreciation on Tuesday, closing at N670/$1 in comparison with N718/$1 recorded on Monday, representing a 6.69% forex appreciation in opposition to the US greenback.

Equally, on the peer-to-peer market, naira rose to N652.5/$1 on Wednesday morning from N669/$1 recorded on Tuesday. That is following a stunning depreciation recorded within the earlier week, when the naira fell to a report N705/$1 on account of FX shortage and panic shopping for.

In the meantime, Nigeria’s exterior reserves recorded its tenth consecutive decline on Monday, dropping by 0.23% to face at $39.1 billion from $39.18 billion recorded as of Friday, twenty ninth July 2022. The decline within the nation’s exterior reserve might be attributed to the elevated circulate of FX within the official market up to now two days.

Buying and selling on the official NAFEX window

The trade fee on the official market depreciated on Tuesday, 2nd August 2022 by 0.42% to shut at N430.67 to a greenback as in opposition to the N428.88/$1 recorded on Monday, 1st August 2022.

  • The opening indicative fee closed at N427.75/$1 on Tuesday, 2nd August 2022 from N428.633/$1 recorded within the earlier buying and selling session.
  • Moreover, an trade fee of N444/$1 was the best fee recorded throughout intra-day buying and selling earlier than it settled at N430.67/$1, whereas it traded as little as N415/$1 throughout intra-day buying and selling.
  • A complete of $158.68 million in FX worth exchanged arms on Tuesday, which is 163.28% greater than the $60.27 million that was traded within the earlier buying and selling session.

Official trade fee falls to report low at N431/$1

Tuesday, twenty sixth July 2022: The trade fee between the naira and the US greenback closed at N431/$1 on the official Traders and Exporters (I&E) window.

Naira closed on a bearish notice on Tuesday, falling by 0.9% to shut at N431/$1 from N427.17/$1 recorded at first of the week, the bottom fee recorded on the official market year-to-date. In the identical vein, foreign exchange turnover declined by 35.37% to $58.03 million in comparison with $89.79 million that exchanged arms within the earlier buying and selling session.

Additionally, with additional shortage of foreign exchange available in the market, the trade fee on the peer-to-peer market depreciated considerably to a report low of N685.5/$1 within the early hours of Wednesday, representing a 2.77% decline in comparison with N667/$1 recorded on Tuesday morning. That is the best fee recorded within the unofficial market, in line with knowledge tracked by Nairalytics.

In the meantime, Nigeria’s exterior reserves recorded its fifth consecutive decline on Monday, dropping by 0.21% to face at $39.31 billion from $39.39 billion recorded as of Friday, twenty second July 2022. The decline within the nation’s exterior reserve might be attributed to the elevated circulate of FX within the official market up to now two days.

Buying and selling on the official NAFEX window

  • The trade fee on the official market depreciated on Tuesday, twenty sixth July 2022 by 0.9% to shut at N431 to a greenback as in opposition to the N427.17/$1 recorded on Monday, twenty fifth July 2022.
  • The opening indicative fee closed at N427.3/$1 on Tuesday, twenty sixth July 2022 from N427.63/$1 recorded within the earlier buying and selling session.
  • Moreover, an trade fee of N444/$1 was the best fee recorded throughout intra-day buying and selling earlier than it settled at N431/$1, whereas it traded as little as N414/$1 throughout intra-day buying and selling.
  • A complete of $58.03 million in FX worth exchanged arms on Tuesday, which is 35.37% decrease than the $89.79 million that was traded within the earlier buying and selling session.

Official trade fee appreciates as foreign exchange provide surges by 146%

Monday, twenty fifth July 2022: The trade fee between the naira and the US greenback closed at N427.17/$1 on the Traders and Exporters (I&E) window, the place foreign exchange is traded formally. 

Naira began the week with a 0.66% appreciation in opposition to the US greenback on the official market to shut at N427.17/$1 in comparison with N430/$1 recorded within the earlier buying and selling session. The upward motion within the native forex is following the 146.2% enhance within the quantity of foreign exchange traded on the ground of the trade. 

Additionally, with the additional shortage of foreign exchange available in the market, the trade fee on the peer-to-peer market depreciated considerably to a report low of N667/$1 within the early hours of Tuesday, representing a 1.72% decline in comparison with N655.73/$1 recorded on Monday morning. That is the best fee recorded within the unofficial market, in line with knowledge tracked by Nairalytics. 

In the meantime, Nigeria’s exterior reserves recorded its fourth consecutive decline on Friday, dropping by 0.05% to face at $39.39 billion from $39.41 billion recorded as of Thursday, twenty first July 2022. The decline within the nation’s exterior reserve might be attributed to the elevated circulate of FX within the official market up to now two days. 

The CBN had defined over the last MPC session that Nigeria’s exterior reserve grew within the month of June 2022 on account of elevated non-oil export and enchancment in diaspora remittances via its RT200 and Naira4dollar programmes respectively. 

Buying and selling on the official NAFEX window 

The trade fee on the official market appreciated on Monday, twenty fifth July 2022 by 0.66% to shut at N427.17 to a greenback as in opposition to the N430/$1 recorded on Friday, twenty second July 2022. 

  • The opening indicative fee closed at N427.63/$1 on Monday, twenty fifth from N427/$1 recorded within the earlier buying and selling session. 
  • Moreover, an trade fee of N444/$1 was the best fee recorded throughout intra-day buying and selling earlier than it settled at N427.17/$1, whereas it traded as little as N414/$1 throughout intra-day buying and selling. 
  • A complete of $89.79 million in FX worth exchanged arms on Monday, which is 146.2% greater than the $36.47 million that was traded within the earlier buying and selling session. 

Change fee skyrockets to N644/$1 at peer-to-peer market as foreign exchange shortage lingers

Wednesday, twentieth July 2022: The trade fee between the naira and the US greenback closed at N426.58/$1 on the Traders and Exporters (I&E) window, the place foreign exchange is traded formally. 

Naira retracted on Wednesday, depreciating by 0.57% to shut at N426.58/$, from N424.17/$1 recorded within the earlier commerce session. In the identical vein, foreign exchange provide fell by 62.45% to $144.03 million from the report of #383.59 million that was traded on Tuesday. 

Additionally, with the additional shortage of foreign exchange available in the market, the trade fee on the peer-to-peer market depreciated considerably to a report low of N644.25/$1 within the early hours of Thursday, representing a 1.44% decline in comparison with N635.1/$1 recorded on Wednesday morning. That is the best fee recorded within the unofficial market, in line with knowledge tracked by Nairalytics. 

Alternatively, the trade fee on the parallel market appreciated barely by 0.16% to shut buying and selling actions on Wednesday at N629/$1 in comparison with N630/$1 recorded within the earlier buying and selling session. That is in line with data from Bureau De Change operators. 

Nigeria’s exterior reserves recorded its first decline in over one month on Tuesday, nineteenth July 2022, falling by 0.02% to face at $39.43 billion in comparison with $39.44 billion recorded as of the day gone by. The decline within the nation’s exterior reserve might be attributed to the elevated circulate of FX within the official market up to now two days. 

The CBN had defined over the last MPC session that Nigeria’s exterior reserve grew within the month of June 2022 on account of elevated non-oil export and enchancment in diaspora remittances via its RT200 and Naira4dollar programmes respectively. 

Buying and selling on the official NAFEX window 

The trade fee on the official market depreciated on Wednesday, twentieth July 2022, declining by 0.57% to shut at N426.58 to a greenback as in opposition to the N424.17/$1 recorded on Tuesday, nineteenth July 2022. 

  • The opening indicative fee closed at N426.5/$1 on Wednesday, twentieth from N426.2/$1 recorded within the earlier buying and selling session. 
  • Moreover, an trade fee of N444/$1 was the best fee recorded throughout intra-day buying and selling earlier than it settled at N426.58/$1, whereas it traded as little as N414/$1 throughout intra-day buying and selling. 
  • A complete of $144.03 million in FX worth exchanged arms on Wednesday, which is 62.45% decrease than the $383.59 million that was traded within the earlier buying and selling session. 

Official trade fee appreciates as Foreign exchange provide surges by 301% to $389 million

Tuesday, nineteenth July 2022: The trade fee between the naira and the US greenback closed at N424.17/$1 on the official Traders and Exporters (I&E) window. 

Naira appreciated considerably in opposition to the US greenback on the official market on Tuesday, with a 1.16% acquire to shut at N424.17/$1, in comparison with N429.13/$ recorded as of the shut of buying and selling actions within the earlier buying and selling session.  

The appreciation of the native forex is following the 301.3% enhance within the quantity of foreign exchange provided within the official market. A complete of $383.59 million in FX worth was traded on Tuesday, nineteenth July 2022, a rise in comparison with $95.58 million that exchanged arms on Monday. 

Alternatively, the trade fee on the parallel market fell by 1.69% to shut buying and selling actions on Monday at N630/$1 in comparison with N619.5/$1 recorded within the earlier buying and selling session. That is in line with data from Bureau De Change operators. 

Additionally, the trade fee on the peer-to-peer market depreciated additional by 0.78% on Wednesday morning to commerce at a minimal of N635.1/$1 in comparison with N630.2/$1 recorded on Tuesday morning. That is the best fee recorded on the unofficial market, in line with knowledge tracked by Nairalytics. 

Nigeria’s exterior reserves elevated by 0.01% on Monday, 18th July 2022 to face at $39.45 billion from $39.43 billion recorded as of the day gone by. This represents the twenty seventh straight day of enchancment for the nation’s international reserve. 

The exterior reserve had been on a downward pattern because of the steady intervention by the Central Financial institution within the FX market with a purpose to guarantee the steadiness of the native forex. Nevertheless, elevated crude oil costs have seen the reserve degree enhance. 

Buying and selling on the official NAFEX window 

The trade fee on the official market appreciated on Tuesday, nineteenth July 2022, gaining 1.16% to shut at N424.17 to a greenback as in opposition to the N429.13/$1 recorded on Monday, 18th July 2022. 

  • The opening indicative fee closed at N426.2/$1 on Tuesday, nineteenth, from N428.26/$1 recorded within the earlier buying and selling session. 
  • Moreover, an trade fee of N444/$1 was the best fee recorded throughout intra-day buying and selling earlier than it settled at N424.17/$1, whereas it traded as little as N414/$1 throughout intra-day buying and selling. 
  • A complete of $383.59 million in FX worth exchanged arms on Tuesday, which is 301.33% greater than the $63.19 million that was traded within the earlier buying and selling session. 

 


Naira falls to N630/$1 on the black market

Monday, 18th July 2022: The trade fee between the naira and the US greenback closed at N429.13/$1 on the official Traders and Exporters (I&E) window.

Naira appreciated barely in opposition to the US greenback on the official market on Monday, with a 0.28% appreciation to shut at N429.13/$1, in comparison with N430.33/$ recorded as of the shut of buying and selling actions within the earlier buying and selling session.

The appreciation of the native forex is following the 51.26% enhance within the quantity of foreign exchange provided within the official market. A complete of $95.58 million in FX was traded on Monday, 18th July 2022, a rise in comparison with $63.19 million that exchanged arms on Friday, final week.

Alternatively, the trade fee on the parallel market fell by 1.69% to shut buying and selling actions on Monday at N630/$1 in comparison with N619.5/$1 recorded within the earlier buying and selling session. That is in line with data from Bureau De Change operators.

Additionally, the trade fee on the peer-to-peer market depreciated by 1.69% on Tuesday morning to commerce at a minimal of N630.2/$1 in comparison with N623.1/$1 recorded on Monday morning. That is the best fee recorded on the unofficial market, in line with knowledge tracked by Nairalytics.

Nigeria’s exterior reserves elevated by 0.03% on Friday, fifteenth July 2022 to face at $39.44 billion from $39.43 billion recorded as of the day gone by. This represents the twenty sixth straight day of enchancment for the nation’s international reserve.

The exterior reserve had been on a downward pattern because of the steady intervention by the Central Financial institution within the FX market with a purpose to guarantee the steadiness of the native forex. Nevertheless, elevated crude oil costs have seen the reserve degree enhance.

Buying and selling on the official NAFEX window

  • The trade fee on the official market appreciated on Monday, 18th July 2022, gaining 0.28% to shut at N429.13 to a greenback as in opposition to the N430.33/$1 recorded on Friday, fifteenth July 2022.
  • The opening indicative fee closed at N428.26/$1 on Monday, 18th July 2022, from N426.63/$1 recorded within the earlier buying and selling session.
  • Moreover, an trade fee of N444/$1 was the best fee recorded throughout intra-day buying and selling earlier than it settled at N429.13/$1, whereas it traded as little as N414/$1 throughout intra-day buying and selling.
  • A complete of $95.58 million in FX worth exchanged arms on Monday, which is 51.26% greater than the $63.19 million that was traded within the earlier buying and selling session.

Naira falls massive to N430/$1 at official window as liquidity stays low

Friday, fifteenth July 2022: The trade fee between the naira and the US greenback closed at N430.33/$1 on the official Traders and Exporters (I&E) window.

Naira depreciated massively in opposition to the US greenback on the official market on Friday, with a 1.34% decline to shut at N430.33/$1, in comparison with N424.62/$ recorded as of the shut of buying and selling actions within the earlier buying and selling session. That is the bottom degree on report, except for thirty first December 2021.

The depreciation of the native forex is following the sustained low foreign exchange turnover available in the market. A complete of $63.19 million in FX was traded on Friday, fifteenth July 2022, representing a lower of 28.15% in comparison with $87.95 million that exchanged arms on Thursday.

Additionally, the trade fee on the peer-to-peer market depreciated by 0.14% on Saturday morning to commerce at a minimal of N623.1/$1 in comparison with N622.25/$1 recorded on Friday morning. That is the best fee recorded on the unofficial market, in line with knowledge tracked by Nairalytics.

Alternatively, the trade fee on the parallel market remained flat on Friday, closing at N618/$, the identical as recorded within the earlier buying and selling session. That is in line with data from Bureau De Change operators.

Nigeria’s exterior reserves elevated by 0.02% on Thursday, 14th July 2022 to face at $39.43 billion from $39.42 billion recorded as of the day gone by. This represents the twenty fifth straight day of enchancment for the nation’s international reserve.

The exterior reserve had been on a downward pattern because of the steady intervention by the Central Financial institution within the FX market with a purpose to guarantee the steadiness of the native forex. Nevertheless, elevated crude oil costs have seen the reserve degree enhance.

Buying and selling on the official NAFEX window

  • The trade fee on the official market depreciated on Friday, fifteenth July 2022, dropping by 1.34% to shut at N430.33 to a greenback as in opposition to the N424.62/$1 recorded on Thursday, 14th July 2022.
  • The opening indicative fee closed at N426.63/$1 on Friday, fifteenth July 2022, from N424.3/$1 recorded within the earlier buying and selling session.
  • Moreover, an trade fee of N444/$1 was the best fee recorded throughout intra-day buying and selling earlier than it settled at N430.33/$1, whereas it traded as little as N414/$1 throughout intra-day buying and selling.
  • A complete of $63.19 million in FX worth exchanged arms on Friday, which is 28.15% decrease than the $87.95 million that was traded within the earlier buying and selling session.

Change fee depreciates at I&E window regardless of enchancment in FX provide

Thursday, 14th July 2022: The trade fee between the naira and the US greenback closed at N424.62/$1 on the official Traders and Exporters (I&E) window.

Naira depreciated marginally in opposition to the US greenback on the official market on Thursday, with a 0.01% decline to shut at N424.62/$1, regardless of a 44.56% enhance in foreign exchange turnover. Particularly, a complete of $87.95 million in FX worth exchanged arms available in the market on Thursday in comparison with $60.84 million that was traded within the earlier buying and selling session.

Additionally, the trade fee on the peer-to-peer market depreciated by 0.29% on Friday morning to commerce at a minimal of N622.25/$1 in comparison with N620.41/$1 recorded on Thursday morning. That is the best fee recorded on the unofficial market, in line with knowledge tracked by Nairalytics.

Alternatively, the trade fee on the parallel market remained flat on Thursday, closing at N618/$, the identical as recorded within the earlier buying and selling session. That is in line with data from Bureau De Change operators.

Nigeria’s exterior reserves elevated by 0.17% on Wednesday, thirteenth July 2022 to face at $39.42 billion from $39.35 billion recorded the day gone by. This represents the twenty fourth straight day of enchancment for the nation’s international reserve.

The exterior reserve had been on a downward pattern because of the steady intervention by the Central Financial institution within the FX market with a purpose to guarantee the steadiness of the native forex. Nevertheless, elevated crude oil costs have seen the reserve degree enhance.

Buying and selling on the official NAFEX window

  • The trade fee on the official market depreciated barely on Thursday, 14th July 2022, dropping by 0.01% to shut at N424.62 to a greenback as in opposition to the N426.58/$1 recorded on Wednesday, thirteenth July 2022.
  • The opening indicative fee closed at N424.3/$1 on Thursday, 14th July 2022, from N424.4/$1 recorded within the earlier buying and selling session.
  • Moreover, an trade fee of N444/$1 was the best fee recorded throughout intra-day buying and selling earlier than it settled at N424.62/$1, whereas it traded as little as N414/$1 throughout intra-day buying and selling.
  • A complete of $87.95 million in FX worth exchanged arms on Thursday, which is 44.56% greater than the $60.84 million that was traded within the earlier buying and selling session.

Naira falls to N620/$1 at peer-to-peer market as FX shortage persists

Tuesday, thirteenth July 2022: The trade fee between the naira and the US greenback closed at N424.58/$1 on the Traders and Exporters (I&E) window, the place foreign exchange is traded formally.

Naira appreciated barely in opposition to the US greenback on the official market on Wednesday, with a 0.36% acquire to shut at N424.58/$1, following a 25.01% enhance in foreign exchange turnover. Particularly, a complete of $60.84 million in FX worth exchanged arms available in the market on Wednesday in comparison with $48.67 million that was traded within the earlier buying and selling session.

Alternatively, the trade fee on the parallel market depreciated to N618/$1 on Wednesday, falling by 0.49% in comparison with N615/$1 recorded on Friday, the earlier week. That is in line with data from Bureau De Change operators.

Additionally, the trade fee on the peer-to-peer market depreciated by 0.72% on Thursday morning to commerce at a minimal of N620.41/$1 in comparison with N616/$1 recorded on Wednesday morning. That is the best fee recorded on the unofficial market, in line with knowledge tracked by Nairalytics.

Nigeria’s exterior reserves elevated by 0.03% on Friday, eighth July 2022 to face at $39.35 billion from $39.34 billion recorded the day gone by. This represents the twenty third straight day of enchancment for the nation’s international reserve.

The exterior reserve had been on a downward pattern because of the steady intervention by the Central Financial institution within the FX market with a purpose to guarantee the steadiness of the native forex. Nevertheless, elevated crude oil costs have seen the reserve degree enhance.

Buying and selling on the official NAFEX window

  • The trade fee on the official market appreciated on Wednesday, thirteenth July 2022, gaining 0.36% to shut at N424.58 to a greenback as in opposition to the N426.13/$1 recorded on Friday, eighth July 2022.
  • The opening indicative fee closed at N424.4/$1 on Wednesday, thirteenth July 2022, from N423.85/$1 recorded within the earlier buying and selling session.
  • Moreover, an trade fee of N444/$1 was the best fee recorded throughout intra-day buying and selling earlier than it settled at N424.58/$1, whereas it traded as little as N411.42/$1 throughout intra-day buying and selling.
  • A complete of $60.84 million in FX worth exchanged arms on Wednesday, which is 25.01% greater than the $46.67 million that was traded within the earlier buying and selling session.

Naira falls at I&E window regardless of huge enchancment in greenback provide

Thursday, seventh July 2022: The trade fee between the naira and the US greenback closed at N428.16/$1 on the Traders and Exporters (I&E) window, the place foreign exchange is traded formally.

Naira depreciated in opposition to the US greenback on the official market on Thursday, with a 0.1% decline to shut at N428.16/$1 regardless of a 172.95% surge within the quantity of foreign exchange that was traded available in the market. Particularly, foreign exchange turnover improved to $222.84 million, the best recorded since 2nd June 2022.

Nevertheless, the trade fee on the parallel market remained flat at N616/$1, the identical as recorded within the earlier buying and selling session. That is in line with data from Bureau De Change operators.

Additionally, the trade fee on the peer-to-peer market depreciated marginally by 0.03% on Friday morning to commerce at a minimal of N618.2/$1 in comparison with N618/$1 recorded on Thursday morning.

Nigeria’s exterior reserves elevated by 0.17% on Wednesday, sixth July 2022 to face at $39.34 billion from $39.27 billion recorded the day gone by. This represents the twenty first straight day of enchancment for the nation’s international reserve.

The exterior reserve had been on a downward pattern because of the steady intervention by the Central Financial institution within the FX market with a purpose to guarantee the steadiness of the native forex. Nevertheless, elevated crude oil costs have seen the reserve degree enhance.

Buying and selling on the official NAFEX window

The trade fee on the official market depreciated on Thursday, seventh July 2022, falling by 0.1% to shut at N428.16 to a greenback as in opposition to the N427.75/$1 recorded on Wednesday, sixth July 2022.

  • The opening indicative fee closed at N426.31/$1 on Thursday, seventh July 2022, from N423.85/$1 recorded within the earlier buying and selling session.
  • Moreover, an trade fee of N444/$1 was the best fee recorded throughout intra-day buying and selling earlier than it settled at N428.16/$1, whereas it traded as little as N413.5/$1 throughout intra-day buying and selling.
  • A complete of $222.84 million in FX worth exchanged arms on Thursday, which is 222.84% greater than the $81.64 million that was traded within the earlier buying and selling session.

Naira falls to N431/$1 on the official foreign exchange market

Wednesday, sixth July 2022: The trade fee between the naira and the US greenback closed at N427.75/$1 on the Traders and Exporters (I&E) window, reaching a peak of N431/$1.

Naira recorded a 0.52% appreciation in opposition to the US greenback on Wednesday to shut at N427.75/$1 after hitting a year-to-date excessive on Tuesday, fifth July 2022 at N430/$1. Equally, a complete of $81.64 million trade arms within the official market on Wednesday, in line with data obtained from FMDQ web site.

The trade fee on the parallel market depreciated on Wednesday, closing at N616/$1 in comparison with N613/$1 recorded on Tuesday, fifth July 2022. Bureau De Change operators who spoke to Nairametrics attributed the downturn to foreign exchange shortage and elevated demand.

Equally, the trade fee on the peer-to-peer market depreciated marginally by 0.16% on Thursday morning to commerce at a minimal of N618/$1 in comparison with N617/$1 recorded on Wednesday morning.

Nigeria’s exterior reserves elevated by 0.04% on Tuesday, fifth July 2022 to face at $39.27 billion from $39.25 billion recorded the day gone by. This represents the twentieth straight day of enchancment for the nation’s international reserve.

The exterior reserve had been on a downward pattern because of the steady intervention by the Central Financial institution within the FX market with a purpose to guarantee the steadiness of the native forex. Nevertheless, elevated crude oil costs have seen the reserve degree enhance.

Buying and selling on the official NAFEX window

  • The trade fee on the official market moderated on Wednesday, appreciating by 0.52% to shut at N427.75 to a greenback as in opposition to the N430/$1 recorded on Tuesday, fifth July 2022.
  • The opening indicative fee closed at N423.85/$1 on Wednesday, sixth July 2022, from N422.71/$1 recorded within the earlier buying and selling session.
  • Moreover, an trade fee of N431/$1 was the best fee recorded throughout intra-day buying and selling earlier than it settled at N427.75/$1, whereas it traded as little as N413/$1 throughout intra-day buying and selling.
  • A complete of $81.64million in FX worth was traded within the official I&E window on Wednesday.

Naira falls throughout FX markets as greenback provide dips considerably

Monday, 4th July 2022: The trade fee between the naira and the US greenback closed at N425.75/$1 on the Traders and Exporters (I&E) window, representing the bottom degree recorded year-to-date.

Naira depreciated additional in opposition to the US greenback on Monday, beginning the week with a 0.18% depreciation to shut at N425.75/$1 in comparison with N425/$1 recorded within the earlier buying and selling classes. In the identical vein, the overall foreign exchange provide declined by 39.69% to $47.56 million, the bottom in two seeks.

The trade fee on the parallel market depreciated marginally on Monday, closing at N613/$1 in comparison with N612/$1 recorded as of Friday, 1st July 2022. Bureau De Change operators who spoke to Nairametrics attributed the downturn to foreign exchange shortage and elevated demand.

Equally, the trade fee on the peer-to-peer market depreciated marginally by 0.09% on Tuesday morning to commerce at a minimal of N616.49/$1 in comparison with N615.9/$1 recorded on Monday morning.

Nigeria’s exterior reserves elevated by 0.05% on Friday, 1st July 2022 to face at $39.17 billion from $39.16 billion recorded the day gone by. This represents the 18th straight day of enchancment for the nation’s international reserve.

The exterior reserve had been on a downward pattern because of the steady intervention by the Central Financial institution within the FX market with a purpose to guarantee the steadiness of the native forex. Nevertheless, elevated crude oil costs have seen the reserve degree enhance.

Buying and selling on the official NAFEX window

The trade fee on the official market fell additional on Monday, depreciating by 0.18% to shut at N425.75 to a greenback as in opposition to the N425/$1 recorded on Friday, 1st July 2022.

  • The opening indicative fee closed at N422.25/$1 on Monday, 4th July 2022, from N421.6/$1 recorded within the earlier buying and selling session.
  • Moreover, an trade fee of N444/$1 was the best fee recorded throughout intra-day buying and selling earlier than it settled at N425.75/$1, whereas it traded as little as N413/$1 throughout intra-day buying and selling.
  • A complete of $47.56 million in FX worth was traded within the official I&E window on Monday, which is 39.69% decrease than the $78.86 million that exchanged arms within the earlier buying and selling session.

Naira closes week weaker as black market fee hits N615/$

The trade fee between the naira and the US greenback closed the week weaker on the official Investor and Exporter window, closing at N425/$1 on Friday, 1st July 2022 in comparison with N420.13/$1 recorded within the earlier week.

That is in line with Nairalytics trade tracker culled from the web site of FMDQ. Naira depreciated by 1.2% week-on-week in opposition to the US greenback. In the meantime, the overall quantity of FX traded available in the market elevated marginally by 6.27% to $627.94 million within the evaluation week in comparison with $590.91 million that exchanged arms within the earlier week.

Alternatively, naira closed the week at N612/$1 on the parallel market from N610/$ recorded on the shut of the earlier week, hitting a report N615/$1 through the week. Additionally, the trade fee closed at N615/$1 on the peer-to-peer market from N612.59/$ recorded final week.

Buying and selling on the official NAFEX window

  • The trade fee on the official market fell additional within the evaluation week, depreciating by 1.2% to shut at N425 to a greenback as in opposition to the N420.13/$1 recorded on Friday, twenty fourth June 2022.
  • The opening indicative fee closed at N421.6/$1 on Friday, 1st July 2022, from N419.79/$1 recorded the earlier Friday.
  • Moreover, an trade fee of N444/$1 was the best fee recorded through the week buying and selling earlier than it settled at N425/$1, whereas it traded as little as N410/$1 throughout intra-day buying and selling.
  • A complete of $627.94 million in FX worth was traded within the official I&E window through the week, which is 6.27% greater than the $590.91 million that exchanged arms within the earlier week.
  • Nigeria’s forex has been confronted with immense strain from decline in export earnings and surging FX demand within the nation, resulting in tightened foreign exchange liquidity. A cursory examine exhibits that the trade fee has depreciated to its highest degree year-to-date on the official market regardless of fixed CBN interventions.
  • On the flip aspect, the native forex has declined by 8.3% year-to-date on the black market, beginning the 12 months at N565/$1, now buying and selling at N612/$.

Naira falls additional on the official market as foreign exchange turnover declines

Thursday, thirtieth June 2022: The trade fee between the naira and the US greenback closed at N425.05/$1 on the Traders and Exporters (I&E) window, representing the bottom degree recorded year-to-date.

Naira depreciated additional in opposition to the US greenback on Thursday, falling by 0.04% to shut at N425.05/$1 in comparison with N424.88/$1 recorded within the earlier buying and selling classes. In the identical vein, the overall foreign exchange provide declined by 32.1% to $76.64 million from $112.83 million that exchanged arms within the earlier buying and selling session.

The trade fee on the parallel market remained flat on Thursday to shut at N615/$1, the identical as recorded within the earlier buying and selling session. That is in line with data from BDC operators. That is the bottom degree that the native forex has fallen, as BDC operators attributed the downturn to foreign exchange shortage and elevated demand.

Equally, the trade fee on the peer-to-peer market appreciated marginally by 0.19% on Friday morning to commerce at N615/$1 in comparison with N616.15/$1 recorded on Thursday morning.

Nigeria’s exterior reserves elevated by 0.1% on Wednesday, twenty ninth June 2022 to face at $39.13 billion from $39.09 billion recorded the day gone by. This represents the sixteenth straight day of enchancment for the nation’s international reserve.

The exterior reserve had been on a downward pattern because of the steady intervention by the Central Financial institution within the FX market with a purpose to guarantee the steadiness of the native forex. Nevertheless, elevated crude oil costs have seen the reserve degree enhance.

Buying and selling on the official NAFEX window

  • The trade fee on the official market fell additional on Thursday, depreciating by 0.04% to shut at N425.05 to a greenback as in opposition to the N424.88/$1 recorded on Wednesday, twenty ninth June 2022.
  • The opening indicative fee closed at N420.96/$1 on Thursday, thirtieth June 2022, from N421.8/$1 recorded on Wednesday.
  • Moreover, an trade fee of N444/$1 was the best fee recorded throughout intra-day buying and selling earlier than it settled at N425.05/$1, whereas it traded as little as N413/$1 throughout intra-day buying and selling.
  • A complete of $76.64 million in FX worth was traded within the official I&E window on Thursday, which is 32.07% decrease than the $112.83 million that exchanged arms within the earlier buying and selling session.

Official trade fee (NAFEX) falls to lowest degree year-to-date

Wednesday, twenty ninth June 2022: The trade fee between the naira and the US greenback closed at N424.88/$1 on the Traders and Exporters (I&E) window.

Naira depreciated in opposition to the US greenback on Wednesday, falling by 0.8% to shut at N424.88/$1 in comparison with N421.5/$1 recorded within the earlier buying and selling classes. This represents the bottom degree reached by the native forex between January thus far as FX shortages linger.

A complete of $112.83 million in FX worth was traded on Wednesday as in opposition to the $206.65 million that was traded on Tuesday, twenty eighth June 2022, representing a forty five.4% lower. That is in line with data from the web site the FMDQ Change.

The trade fee on the parallel market remained flat on Wednesday to shut at N615/$1 on Wednesday, the identical as recorded within the earlier buying and selling session. That is in line with data from BDC operators. That is the bottom degree that the native forex has fallen, as BDC operators attributed it to foreign exchange shortage and elevated demand.

Equally, the trade fee on the peer-to-peer market appreciated marginally by 0.19% on Thursday morning to commerce at N616.15/$1 in comparison with N617.29/$1 recorded on Wednesday morning.

Nigeria’s exterior reserves elevated by 0.1% on Tuesday, twenty eighth June 2022 to face at $39.09 billion from $39.06 billion recorded the day gone by. This represents the fifteenth straight day of enchancment for the nation’s international reserve.

The exterior reserve had been on a downward pattern because of the steady intervention by the Central Financial institution within the FX market with a purpose to guarantee the steadiness of the native forex. Nevertheless, elevated crude oil costs have seen the reserve degree enhance.

Buying and selling on the official NAFEX window

  • The trade fee on the official market fell massive on Wednesday, depreciating by 0.8% to shut at N424.88 to a greenback as in opposition to the N421.5/$1 recorded on Tuesday, twenty eighth June 2022.
  • The opening indicative fee closed at N421.8/$1 on Wednesday, twenty ninth June 2022, from N420.7/$1 recorded on Tuesday.
  • Moreover, an trade fee of N444/$1 was the best fee recorded throughout intra-day buying and selling earlier than it settled at N424.88/$1, whereas it traded as little as N410/$1 throughout intra-day buying and selling.
  • A complete of $112.83 million in FX worth was traded within the official I&E window on Wednesday, which is 45.4% decrease than the $206.65 million that exchanged arms within the earlier buying and selling session.

Change fee appreciates at I&E window as foreign exchange provide rises to 3-week excessive 

Thursday, twenty third June 2022: The trade fee between the naira and the US greenback closed at N420/$1 on the Traders and Exporters (I&E) window. 

Naira gained in opposition to the US greenback on Thursday, reaching its highest degree within the week to shut at N420.17/$1, representing a 0.08% appreciation in comparison with N420.5/$1 recorded within the earlier buying and selling session. That is in line with data from the web site the FMDQ Change. 

A complete of $201.81 million in FX worth was traded on Thursday as in opposition to the $71.99 million that was traded in the day gone by, representing a 180.33% enhance. 

The trade fee on the parallel market depreciated by 0.66% to shut at N611/$1 on Thursday morning, from N607/$1 recorded as of the earlier buying and selling session. That is in line with data from BDC operators. 

In the meantime, the trade fee on the peer-to-peer market remained steady, buying and selling at N612.59 to a greenback on Friday morning, representing a 0.04% depreciation in comparison with N612.85/$1 recorded as of the identical time on Thursday. 

Nigeria’s exterior reserves elevated by 0.08% on Wednesday, twenty second June 2022 to face at $38.85 billion from $38.82 billion recorded the day gone by. This represents the eleventh straight day of enchancment for the nation’s international reserve. 

 The exterior reserve had been on a downward pattern because of the steady intervention by the Central Financial institution within the FX market with a purpose to guarantee the steadiness of the native forex. Nevertheless, elevated crude oil costs have seen the reserve degree enhance. 

Buying and selling on the official NAFEX window 

The trade fee on the official market recorded a slight acquire on Thursday, appreciated by 0.08% to shut at N420.17 to a greenback as in opposition to the N420.5/$1 recorded on Wednesday, twenty third June 2022. 

  • The opening indicative fee closed at N419.79/$1 on Thursday, twenty third June 2022, from N419.46/$1 recorded on Wednesday. 
  • Moreover, an trade fee of N444/$1 was the best fee recorded throughout intra-day buying and selling earlier than it settled at N420.17/$1, whereas it traded as little as N410/$1 throughout intra-day buying and selling. 
  • A complete of $201.81 million in FX worth was traded within the official I&E window on Thursday, which is 180.33% greater than the $71.99 million that exchanged arms within the earlier buying and selling session. 

Naira falls to N611/$1 on the black market as FX liquidity tightens

The trade fee between the naira and the US greenback closed at N420.5/$1 on the Traders and Exporters (I&E) window.

Naira closed barely weaker on Wednesday with a 0.05% depreciation to shut at N420.5/$1 in comparison with N420.28/$1 recorded within the earlier buying and selling session. That is in line with data from the web site the FMDQ Change.

A complete of $71.99 million in FX worth exchanged arms on Wednesday as in opposition to the $108.06 million that was traded in the day gone by, representing a 33.38% lower.

The trade fee on the parallel market depreciated by 0.66% to commerce at N611/$1 on Thursday morning, from N607/$1 recorded as of the earlier buying and selling session. That is in line with data from BDC operators.

In the meantime, the trade fee on the peer-to-peer market recorded a slight uptick on Thursday morning, buying and selling at N612.85/$1 in comparison with N613/$ recorded as of the identical time on Wednesday, twenty second June 2022.

Nigeria’s exterior reserves elevated by 0.07% on Tuesday, twenty first June 2022 to face at $38.82 billion from $38.79 billion recorded the day gone by. The nation’s exterior had been on a downward pattern because of the steady intervention by the Central Financial institution within the FX market with a purpose to guarantee the steadiness of the native forex. Nevertheless, elevated crude oil costs have seen the reserve degree enhance.

Buying and selling on the official NAFEX window

  • The trade fee on the official market depreciated marginally by 0.05% on Wednesday to shut at N420.5/$1 in comparison with N420.28/$1 recorded as of shut of commerce on Tuesday.
  • The opening indicative fee closed at N419.46/$1 on Wednesday, twenty second June 2022, from N420.71/$1 recorded on Tuesday.
  • Moreover, an trade fee of N444/$1 was the best fee recorded throughout intra-day buying and selling earlier than it settled at N420.5/$1, whereas it traded for as little as N412/$1 throughout intra-day buying and selling.
  • A complete of $71.99 million in FX worth was traded within the official I&E window on Wednesday, which is 33.38% decrease than the $108.06 million that exchanged arms within the earlier buying and selling session.

Foreign exchange provide surges by 135% to $108.1 million at I&E window

Tuesday, twenty first June 2022: The trade fee between the naira and the US greenback closed at N420.28/$1 on the Traders and Exporters (I&E) window.

Naira closed stronger on Tuesday with a 0.25% acquire to shut at N420.28/$1 in comparison with N421.33/$1 recorded within the final two buying and selling classes. That is in line with data culled from the web site the FMDQ Change.

A complete of $108.06 million in FX worth exchanged arms on Tuesday as in opposition to the $46.07 million that was traded in the day gone by, representing a surge of 134.6%

The trade fee on the parallel market remained steady on Tuesday, depreciated barely by 0.17% to shut at N607/$1 from N606/$1 recorded as of the shut of buying and selling actions on Monday. That is in line with data from BDC operators.

In the meantime, the trade fee on the peer-to-peer market depreciated by 0.13% on Wednesday morning, buying and selling at N613/$1 in comparison with N612.19/$ recorded as of the identical time on Tuesday, twenty first June 2022.

Nigeria’s exterior reserves elevated by 0.25% on Monday, twentieth June 2022 to face at $38.79 billion from $38.69 billion recorded the day gone by. The nation’s exterior had been on a downward pattern because of the steady intervention by the Central Financial institution within the FX market with a purpose to guarantee the steadiness of the native forex. Nevertheless, elevated crude oil costs have seen the reserve degree enhance.

Buying and selling on the official NAFEX window

  • The trade fee on the official market improved by 0.25% on Tuesday to shut at N420.28 to a greenback in comparison with N421.33/$1 recorded as of shut of commerce on Monday.
  • The opening indicative fee closed at N420.71/$1 on Tuesday, twenty first June 2022, from N490.71/$1 recorded on Monday.
  • Moreover, an trade fee of N444/$1 was the best fee recorded throughout intra-day buying and selling earlier than it settled at N420.28/$1, whereas it offered for as little as N413/$1 throughout intra-day buying and selling.
  • A complete of $108.06 million in FX worth was traded within the official I&E window on Tuesday, which is 134.6% greater than the $46.07 million that exchanged arms within the earlier buying and selling session.

Naira closes flat at official market as FX provide crashes to $46.1 million

Monday, twentieth June 2022: The trade fee between the naira and the US greenback closed at N421.33/$1 on the Traders and Exporters (I&E) window.

Naira remained steady on the official Traders and Exporters window on Monday, closing on the similar fee because it did on Friday of the earlier week at N421.33/$1. That is in line with data culled from the web site the FMDQ Change.

The quantity of FX that was traded within the I&E window crashed considerably to its lowest in over two months at $46.07 million.

The trade fee on the parallel market remained steady on Monday grew barely stronger, having closed at N606/$1, from N607/$1 recorded as of the shut of buying and selling actions final week on Friday. That is in line with data from BDC operators.

In the meantime, the trade fee on the peer-to-peer market depreciated by 0.15% on Tuesday morning, buying and selling at N612.19/$1 in comparison with N611.3/$ recorded as of the identical time on Monday, twentieth June 2022.

Nigeria’s exterior reserves appreciated marginally by 0.08% on Friday, seventeenth June 2022 to face at $38.69 billion from $38.66 billion recorded the day gone by. The nation’s exterior had been on a downward pattern because of the steady intervention by the Central Financial institution within the FX market with a purpose to guarantee the steadiness of the native forex. Nevertheless, elevated crude oil costs have seen the reserve degree enhance.

Buying and selling on the official NAFEX window

  • The trade fee began the week on a steady notice because the naira closed flat at N421.33/$1, the identical as recorded within the earlier buying and selling session.
  • The opening indicative fee closed at N419.71/$1 on Monday, twentieth June 2022.
  • Moreover, an trade fee of N444/$1 was the best fee recorded throughout intra-day buying and selling earlier than it settled at N421.33/$1, whereas it offered for as little as N413/$1 throughout intra-day buying and selling.
  • A complete of $46.07 million in FX worth was traded within the official I&E window on Monday, which is the bottom recorded since 4th April 2022.

Naira falls at official market regardless of improved foreign exchange liquidity

Thursday, sixteenth June 2022: The trade fee between the naira and the US greenback closed at N420.5/$1 on the Traders and Exporters (I&E) window.

Naira grew weaker in opposition to the US greenback on Thursday regardless of enchancment in FS provide on the official market. The trade fee declined by 0.12% to shut at N420.5/$1 in comparison with N420/$1, which it closed on Wednesday. That is in line with data culled from the web site the FMDQ Change.

The quantity of FX that was traded within the I&E window elevated by 9.41% to $136.35 million from $124.62 million that exchanged arms within the earlier buying and selling session.

The trade fee on the parallel market remained steady on Thursday, having closed at N607/$1, the identical as recorded through the earlier buying and selling session. That is in line with data from BDC operators.

In the meantime, the trade fee on the peer-to-peer market appreciated by 0.45% on Friday morning, buying and selling at N607/$1 in comparison with N609.74/$ recorded as of the identical time on Thursday, sixteenth June 2022.

Nigeria’s exterior reserves appreciated marginal by 0.04% on Wednesday, fifteenth June 2022 to face at $38.63 billion from $38.62 billion recorded the day gone by. The nation’s exterior had been on a downward pattern because of the steady intervention by the Central Financial institution within the FX market with a purpose to guarantee the steadiness of the native forex.

Buying and selling on the official NAFEX window

  • The trade fee fell by 0.12% on Thursday, to shut at N420.5/$1 from N420/$1 recorded on Wednesday, fifteenth June 2022.
  • The opening indicative fee closed at N419.82/$1 on Friday, sixteenth June 2022, representing a 20 kobo depreciation in comparison with N419.65/$1 recorded on Tuesday.
  • Moreover, an trade fee of N444/$1 was the best fee recorded throughout intra-day buying and selling earlier than it settled at N420.5 $1, whereas it offered for as little as N413/$1 throughout intra-day buying and selling.
  • A complete of $136.35 million in FX worth was traded within the official I&E window on Thursday, representing a 9.41% enhance in comparison with $124.62 million traded within the earlier buying and selling session.

Naira falls to N420/$1 at I&E window regardless of moderations at parallel market

Tuesday, seventh June 2022: The trade fee between the naira and the US greenback closed at N420.75/$1 on the Traders and Exporters (I&E) window.

Naira recorded a 0.12% depreciation on Tuesday to shut at N420.75/$1 in comparison with N420.25/$1 recorded within the earlier buying and selling session, representing its lowest degree since sixteenth of Might 2022. The autumn within the native forex is regardless of the 129.7% surge in foreign exchange turnover to $113.12 million on the I&E window.

In the meantime, the trade fee remained steady on the parallel market, closing at N606 to a greenback on Tuesday, the identical as recorded up to now two buying and selling classes. That is in line with data from BDC operators in Nigeria.

The trade fee on the P2P market moderated additional on Wednesday, beginning the day as little as N601/$1, in comparison with N602.5/$1 recorded as of the identical time on Tuesday. This represents a 0.25% appreciation of the trade fee.

In the meantime, Nigeria’s exterior reserves fell by 0.09% on Monday, 4th June 2022 to face at $38.42 billion from $38.46 billion recorded the day gone by. The nation’s exterior had been on a downturn since twenty fifth April 2022 largely because of the steady intervention by the Central Financial institution within the FX market with a purpose to guarantee the steadiness of the native forex.

Buying and selling on the official NAFEX window

The trade fee depreciated by 0.12% on Tuesday to shut at N420.75/$1 from N420.25/$1 recorded on Monday.

  • The opening indicative fee closed at N420.1/$1 on Tuesday, seventh June 2022, the identical as recorded on Monday.
  • Moreover, an trade fee of N444/$1 was the best fee recorded throughout intra-day buying and selling earlier than it settled at N420.75/$1, whereas it offered for as little as N413/$1 throughout intra-day buying and selling.
  • A complete of $113.12 million in FX worth was traded within the official I&E window on Tuesday, representing a 129.73% enhance in comparison with $49.24 million traded within the earlier buying and selling session.

Crypto market replace

  • Regardless of the restoration posted within the cryptocurrency market yesterday, the market resumed buying and selling actions on Wednesday on a bearish notice because the business capitalization declined by 1.75% to face at $1.22 trillion.
  • Essentially the most capitalized crypto asset, bitcoin additionally recorded a 2.69% decline to commerce at $30,287.34, whereas Ethereum with a decline of 1.37% traded at $1,787.22 as of 5:20am (WAT).
  • Equally, Solana recorded a 1.18% decline in worth to commerce at $38.835, Uniswap dipped 1.36% to commerce at $5.146, whereas Luna however, gained 1.03% to commerce at $0.00006466.

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