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

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

Tuesday, sixteenth August 2022: The change charge between the naira and the US greenback closed at N430.67/$1 on the Buyers 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 out there. 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 its uptrend after gaining 0.03% to face at $38.89 billion from $38.88 billion recorded as of the earlier week. The reserve stage had been on a downturn in latest instances, as a result of fixed intervention by the CBN within the official FX market in a bid to handle change charge volatility. 

Buying and selling on the official NAFEX window 

The change charge 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. 

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  • The opening indicative charge 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 change charge of N432/$1 was the very best charge 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 palms on Tuesday, which is 62.47% decrease than the $134.3 million that was traded within the earlier buying and selling session. 

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

Monday, fifteenth August 2022: The change charge between the naira and the US greenback closed at N430/$1 on the Buyers 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 palms on Friday, twelfth August 2022.

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However, 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 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 stage improved barely by 0.01% to face at $38.884 billion, from $38.881 billion recorded as of the day before today. The reserve stage which had been on a downturn in latest instances, as a result of fixed intervention by the CBN within the official FX market in a bid to handle change charge volatility.

Buying and selling on the official NAFEX window

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

  • The opening indicative charge 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 change charge of N444/$1 was the very best charge 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 palms on Monday, which is 190% larger than the $46.31 million that was traded within the earlier buying and selling session.

Black market charge depreciates to N675/$1 as overseas reserve falls sharply beneath $39 billion

Tuesday, ninth August 2022: The change charge between the naira and the US greenback closed at N428.75/$1 on the Buyers 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.

However, 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 before today.

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 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 before today. That is largely as a result of fixed intervention by the CBN within the Buyers and Exporters window, to handle change charge volatility.

Buying and selling on the official NAFEX window

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

  • The opening indicative charge 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 change charge of N444/$1 was the very best charge 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 palms 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 change charge between the naira and the US greenback closed at N431/$1 on the Buyers and Exporters (I&E) window, the place foreign exchange is traded formally.

Naira began the week on a bearish be aware, 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 out there 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 before today.

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

Buying and selling on the official NAFEX window

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

  • The opening indicative charge closed at N429/$1 on Monday, eighth August 2022, the identical as recorded within the earlier buying and selling session.
  • Moreover, an change charge of N444/$1 was the very best charge 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 palms on Monday, which is 60.83% larger than the $71.92 million that was traded within the earlier buying and selling session.

Naira appreciates at I&E window as overseas reserves information first acquire in two weeks

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

Naira closed larger on Thursday, with a 0.25% appreciation towards 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.

However, 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 before today.

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 before today. The reserve stage had depreciated for eleven consecutive days, largely as a result of fixed intervention by the apex financial institution within the I&E window.

Buying and selling on the official NAFEX window

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

  • The opening indicative charge closed at N428.33/$1 on Thursday, 4th August 2022 from N427.9/$1 recorded within the earlier buying and selling session.
  • Moreover, an change charge of N444/$1 was the very best charge 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 palms on Thursday, which is 10.95% decrease than the $123.78 million that was traded within the earlier buying and selling session.

Alternate charge appreciates to N616/$1 at peer-to-peer FX market

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

Naira closed on a optimistic be aware on Wednesday, with a 0.34% appreciation towards 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 out there on Wednesday, representing a 21.9% enhance when in comparison with the $158.68 million traded on Tuesday.

In the identical vein, the change charge on the black market appreciated on Wednesday to shut at N665/$1 in comparison with N670/$1 recorded on Tuesday, representing a 0.75% foreign money appreciation towards 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 before today. That is following a stunning depreciation recorded within the earlier week, when the naira fell to a report N705/$1 because 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 move of FX within the official market up to now two days.

Buying and selling on the official NAFEX window

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

  • The opening indicative charge closed at N427.9/$1 on Wednesday, third August 2022 from N427.75/$1 recorded within the earlier buying and selling session.
  • Moreover, an change charge of N444/$1 was the very best charge 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 palms 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 change charge between the naira and the US greenback closed at N430.67/$1 on the official Buyers and Exporters (I&E) window.

Naira closed on a bearish be aware 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.

However, the change charge on the black market recorded a big appreciation on Tuesday, closing at N670/$1 in comparison with N718/$1 recorded on Monday, representing a 6.69% foreign money appreciation towards 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 because 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 move of FX within the official market up to now two days.

Buying and selling on the official NAFEX window

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

  • The opening indicative charge closed at N427.75/$1 on Tuesday, 2nd August 2022 from N428.633/$1 recorded within the earlier buying and selling session.
  • Moreover, an change charge of N444/$1 was the very best charge 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 palms on Tuesday, which is 163.28% larger than the $60.27 million that was traded within the earlier buying and selling session.

Official change charge falls to report low at N431/$1

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

Naira closed on a bearish be aware on Tuesday, falling by 0.9% to shut at N431/$1 from N427.17/$1 recorded initially of the week, the bottom charge 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 palms within the earlier buying and selling session.

Additionally, with additional shortage of foreign exchange out there, the change charge 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 very best charge 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 move of FX within the official market up to now two days.

Buying and selling on the official NAFEX window

  • The change charge on the official market depreciated on Tuesday, twenty sixth July 2022 by 0.9% to shut at N431 to a greenback as towards the N427.17/$1 recorded on Monday, twenty fifth July 2022.
  • The opening indicative charge 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 change charge of N444/$1 was the very best charge 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 palms on Tuesday, which is 35.37% decrease than the $89.79 million that was traded within the earlier buying and selling session.

Official change charge appreciates as foreign exchange provide surges by 146%

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

Naira began the week with a 0.66% appreciation towards 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 foreign money is following the 146.2% enhance within the quantity of foreign exchange traded on the ground of the change. 

Additionally, with the additional shortage of foreign exchange out there, the change charge 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 very best charge 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 move of FX within the official market up to now two days. 

The CBN had defined over the past MPC session that Nigeria’s exterior reserve grew within the month of June 2022 because 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 change charge on the official market appreciated on Monday, twenty fifth July 2022 by 0.66% to shut at N427.17 to a greenback as towards the N430/$1 recorded on Friday, twenty second July 2022. 

  • The opening indicative charge closed at N427.63/$1 on Monday, twenty fifth from N427/$1 recorded within the earlier buying and selling session. 
  • Moreover, an change charge of N444/$1 was the very best charge 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 palms on Monday, which is 146.2% larger than the $36.47 million that was traded within the earlier buying and selling session. 

Alternate charge skyrockets to N644/$1 at peer-to-peer market as foreign exchange shortage lingers

Wednesday, twentieth July 2022: The change charge between the naira and the US greenback closed at N426.58/$1 on the Buyers 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 out there, the change charge 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 very best charge recorded within the unofficial market, in line with knowledge tracked by Nairalytics. 

However, the change charge 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 before today. The decline within the nation’s exterior reserve might be attributed to the elevated move of FX within the official market up to now two days. 

The CBN had defined over the past MPC session that Nigeria’s exterior reserve grew within the month of June 2022 because 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 change charge on the official market depreciated on Wednesday, twentieth July 2022, declining by 0.57% to shut at N426.58 to a greenback as towards the N424.17/$1 recorded on Tuesday, nineteenth July 2022. 

  • The opening indicative charge closed at N426.5/$1 on Wednesday, twentieth from N426.2/$1 recorded within the earlier buying and selling session. 
  • Moreover, an change charge of N444/$1 was the very best charge 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 palms on Wednesday, which is 62.45% decrease than the $383.59 million that was traded within the earlier buying and selling session. 

Official change charge appreciates as Foreign exchange provide surges by 301% to $389 million

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

Naira appreciated considerably towards 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 foreign money is following the 301.3% enhance within the quantity of foreign exchange equipped 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 palms on Monday. 

However, the change charge 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 change charge 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 very best charge 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 before today. This represents the twenty seventh straight day of enchancment for the nation’s overseas reserve. 

The exterior reserve had been on a downward development as a result of steady intervention by the Central Financial institution within the FX market in an effort to guarantee the soundness of the native foreign money. Nevertheless, elevated crude oil costs have seen the reserve stage enhance. 

Buying and selling on the official NAFEX window 

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

  • The opening indicative charge closed at N426.2/$1 on Tuesday, nineteenth, from N428.26/$1 recorded within the earlier buying and selling session. 
  • Moreover, an change charge of N444/$1 was the very best charge 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 palms on Tuesday, which is 301.33% larger 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 change charge between the naira and the US greenback closed at N429.13/$1 on the official Buyers and Exporters (I&E) window.

Naira appreciated barely towards 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 foreign money is following the 51.26% enhance within the quantity of foreign exchange equipped 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 palms on Friday, final week.

However, the change charge 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 change charge 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 very best charge 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 before today. This represents the twenty sixth straight day of enchancment for the nation’s overseas reserve.

The exterior reserve had been on a downward development as a result of steady intervention by the Central Financial institution within the FX market in an effort to guarantee the soundness of the native foreign money. Nevertheless, elevated crude oil costs have seen the reserve stage enhance.

Buying and selling on the official NAFEX window

  • The change charge on the official market appreciated on Monday, 18th July 2022, gaining 0.28% to shut at N429.13 to a greenback as towards the N430.33/$1 recorded on Friday, fifteenth July 2022.
  • The opening indicative charge closed at N428.26/$1 on Monday, 18th July 2022, from N426.63/$1 recorded within the earlier buying and selling session.
  • Moreover, an change charge of N444/$1 was the very best charge 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 palms on Monday, which is 51.26% larger than the $63.19 million that was traded within the earlier buying and selling session.

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

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

Naira depreciated massively towards 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 stage on report, apart from thirty first December 2021.

The depreciation of the native foreign money is following the sustained low foreign exchange turnover out there. 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 palms on Thursday.

Additionally, the change charge 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 very best charge recorded on the unofficial market, in line with knowledge tracked by Nairalytics.

However, the change charge 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 before today. This represents the twenty fifth straight day of enchancment for the nation’s overseas reserve.

The exterior reserve had been on a downward development as a result of steady intervention by the Central Financial institution within the FX market in an effort to guarantee the soundness of the native foreign money. Nevertheless, elevated crude oil costs have seen the reserve stage enhance.

Buying and selling on the official NAFEX window

  • The change charge on the official market depreciated on Friday, fifteenth July 2022, dropping by 1.34% to shut at N430.33 to a greenback as towards the N424.62/$1 recorded on Thursday, 14th July 2022.
  • The opening indicative charge closed at N426.63/$1 on Friday, fifteenth July 2022, from N424.3/$1 recorded within the earlier buying and selling session.
  • Moreover, an change charge of N444/$1 was the very best charge 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 palms on Friday, which is 28.15% decrease than the $87.95 million that was traded within the earlier buying and selling session.

Alternate charge depreciates at I&E window regardless of enchancment in FX provide

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

Naira depreciated marginally towards 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 palms out there on Thursday in comparison with $60.84 million that was traded within the earlier buying and selling session.

Additionally, the change charge 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 very best charge recorded on the unofficial market, in line with knowledge tracked by Nairalytics.

However, the change charge 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 before today. This represents the twenty fourth straight day of enchancment for the nation’s overseas reserve.

The exterior reserve had been on a downward development as a result of steady intervention by the Central Financial institution within the FX market in an effort to guarantee the soundness of the native foreign money. Nevertheless, elevated crude oil costs have seen the reserve stage enhance.

Buying and selling on the official NAFEX window

  • The change charge on the official market depreciated barely on Thursday, 14th July 2022, dropping by 0.01% to shut at N424.62 to a greenback as towards the N426.58/$1 recorded on Wednesday, thirteenth July 2022.
  • The opening indicative charge closed at N424.3/$1 on Thursday, 14th July 2022, from N424.4/$1 recorded within the earlier buying and selling session.
  • Moreover, an change charge of N444/$1 was the very best charge 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 palms on Thursday, which is 44.56% larger 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 change charge between the naira and the US greenback closed at N424.58/$1 on the Buyers and Exporters (I&E) window, the place foreign exchange is traded formally.

Naira appreciated barely towards 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 palms out there on Wednesday in comparison with $48.67 million that was traded within the earlier buying and selling session.

However, the change charge 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 change charge 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 very best charge 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 before today. This represents the twenty third straight day of enchancment for the nation’s overseas reserve.

The exterior reserve had been on a downward development as a result of steady intervention by the Central Financial institution within the FX market in an effort to guarantee the soundness of the native foreign money. Nevertheless, elevated crude oil costs have seen the reserve stage enhance.

Buying and selling on the official NAFEX window

  • The change charge on the official market appreciated on Wednesday, thirteenth July 2022, gaining 0.36% to shut at N424.58 to a greenback as towards the N426.13/$1 recorded on Friday, eighth July 2022.
  • The opening indicative charge closed at N424.4/$1 on Wednesday, thirteenth July 2022, from N423.85/$1 recorded within the earlier buying and selling session.
  • Moreover, an change charge of N444/$1 was the very best charge 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 palms on Wednesday, which is 25.01% larger 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 change charge between the naira and the US greenback closed at N428.16/$1 on the Buyers and Exporters (I&E) window, the place foreign exchange is traded formally.

Naira depreciated towards 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 out there. Particularly, foreign exchange turnover improved to $222.84 million, the very best recorded since 2nd June 2022.

Nevertheless, the change charge 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 change charge 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 before today. This represents the twenty first straight day of enchancment for the nation’s overseas reserve.

The exterior reserve had been on a downward development as a result of steady intervention by the Central Financial institution within the FX market in an effort to guarantee the soundness of the native foreign money. Nevertheless, elevated crude oil costs have seen the reserve stage enhance.

Buying and selling on the official NAFEX window

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

  • The opening indicative charge closed at N426.31/$1 on Thursday, seventh July 2022, from N423.85/$1 recorded within the earlier buying and selling session.
  • Moreover, an change charge of N444/$1 was the very best charge 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 palms on Thursday, which is 222.84% larger 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 change charge between the naira and the US greenback closed at N427.75/$1 on the Buyers and Exporters (I&E) window, reaching a peak of N431/$1.

Naira recorded a 0.52% appreciation towards 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 change palms within the official market on Wednesday, in line with data obtained from FMDQ web site.

The change charge 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 change charge 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 before today. This represents the twentieth straight day of enchancment for the nation’s overseas reserve.

The exterior reserve had been on a downward development as a result of steady intervention by the Central Financial institution within the FX market in an effort to guarantee the soundness of the native foreign money. Nevertheless, elevated crude oil costs have seen the reserve stage enhance.

Buying and selling on the official NAFEX window

  • The change charge on the official market moderated on Wednesday, appreciating by 0.52% to shut at N427.75 to a greenback as towards the N430/$1 recorded on Tuesday, fifth July 2022.
  • The opening indicative charge closed at N423.85/$1 on Wednesday, sixth July 2022, from N422.71/$1 recorded within the earlier buying and selling session.
  • Moreover, an change charge of N431/$1 was the very best charge 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 change charge between the naira and the US greenback closed at N425.75/$1 on the Buyers and Exporters (I&E) window, representing the bottom stage recorded year-to-date.

Naira depreciated additional towards 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 entire foreign exchange provide declined by 39.69% to $47.56 million, the bottom in two seeks.

The change charge 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 change charge 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 before today. This represents the 18th straight day of enchancment for the nation’s overseas reserve.

The exterior reserve had been on a downward development as a result of steady intervention by the Central Financial institution within the FX market in an effort to guarantee the soundness of the native foreign money. Nevertheless, elevated crude oil costs have seen the reserve stage enhance.

Buying and selling on the official NAFEX window

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

  • The opening indicative charge closed at N422.25/$1 on Monday, 4th July 2022, from N421.6/$1 recorded within the earlier buying and selling session.
  • Moreover, an change charge of N444/$1 was the very best charge 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 palms within the earlier buying and selling session.

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

The change charge 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 change tracker culled from the web site of FMDQ. Naira depreciated by 1.2% week-on-week towards the US greenback. In the meantime, the entire quantity of FX traded out there elevated marginally by 6.27% to $627.94 million within the assessment week in comparison with $590.91 million that exchanged palms within the earlier week.

However, 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 change charge 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 change charge on the official market fell additional within the assessment week, depreciating by 1.2% to shut at N425 to a greenback as towards the N420.13/$1 recorded on Friday, twenty fourth June 2022.
  • The opening indicative charge closed at N421.6/$1 on Friday, 1st July 2022, from N419.79/$1 recorded the earlier Friday.
  • Moreover, an change charge of N444/$1 was the very best charge 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% larger than the $590.91 million that exchanged palms within the earlier week.
  • Nigeria’s foreign money has been confronted with immense stress from decline in export earnings and surging FX demand within the nation, resulting in tightened foreign exchange liquidity. A cursory examine exhibits that the change charge has depreciated to its highest stage year-to-date on the official market regardless of fixed CBN interventions.
  • On the flip aspect, the native foreign money has declined by 8.3% year-to-date on the black market, beginning the yr 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 change charge between the naira and the US greenback closed at N425.05/$1 on the Buyers and Exporters (I&E) window, representing the bottom stage recorded year-to-date.

Naira depreciated additional towards 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 entire foreign exchange provide declined by 32.1% to $76.64 million from $112.83 million that exchanged palms within the earlier buying and selling session.

The change charge 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 stage that the native foreign money has fallen, as BDC operators attributed the downturn to foreign exchange shortage and elevated demand.

Equally, the change charge 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 before today. This represents the sixteenth straight day of enchancment for the nation’s overseas reserve.

The exterior reserve had been on a downward development as a result of steady intervention by the Central Financial institution within the FX market in an effort to guarantee the soundness of the native foreign money. Nevertheless, elevated crude oil costs have seen the reserve stage enhance.

Buying and selling on the official NAFEX window

  • The change charge on the official market fell additional on Thursday, depreciating by 0.04% to shut at N425.05 to a greenback as towards the N424.88/$1 recorded on Wednesday, twenty ninth June 2022.
  • The opening indicative charge closed at N420.96/$1 on Thursday, thirtieth June 2022, from N421.8/$1 recorded on Wednesday.
  • Moreover, an change charge of N444/$1 was the very best charge 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 palms within the earlier buying and selling session.

Official change charge (NAFEX) falls to lowest stage year-to-date

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

Naira depreciated towards 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 stage reached by the native foreign money between January thus far as FX shortages linger.

A complete of $112.83 million in FX worth was traded on Wednesday as towards 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 Alternate.

The change charge 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 stage that the native foreign money has fallen, as BDC operators attributed it to foreign exchange shortage and elevated demand.

Equally, the change charge 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 before today. This represents the fifteenth straight day of enchancment for the nation’s overseas reserve.

The exterior reserve had been on a downward development as a result of steady intervention by the Central Financial institution within the FX market in an effort to guarantee the soundness of the native foreign money. Nevertheless, elevated crude oil costs have seen the reserve stage enhance.

Buying and selling on the official NAFEX window

  • The change charge on the official market fell large on Wednesday, depreciating by 0.8% to shut at N424.88 to a greenback as towards the N421.5/$1 recorded on Tuesday, twenty eighth June 2022.
  • The opening indicative charge closed at N421.8/$1 on Wednesday, twenty ninth June 2022, from N420.7/$1 recorded on Tuesday.
  • Moreover, an change charge of N444/$1 was the very best charge 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 palms within the earlier buying and selling session.

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

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

Naira gained towards the US greenback on Thursday, reaching its highest stage 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 Alternate. 

A complete of $201.81 million in FX worth was traded on Thursday as towards the $71.99 million that was traded in the day before today, representing a 180.33% enhance. 

The change charge 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 change charge on the peer-to-peer market remained secure, 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 before today. This represents the eleventh straight day of enchancment for the nation’s overseas reserve. 

 The exterior reserve had been on a downward development as a result of steady intervention by the Central Financial institution within the FX market in an effort to guarantee the soundness of the native foreign money. Nevertheless, elevated crude oil costs have seen the reserve stage enhance. 

Buying and selling on the official NAFEX window 

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

  • The opening indicative charge closed at N419.79/$1 on Thursday, twenty third June 2022, from N419.46/$1 recorded on Wednesday. 
  • Moreover, an change charge of N444/$1 was the very best charge 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% larger than the $71.99 million that exchanged palms within the earlier buying and selling session. 

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

The change charge between the naira and the US greenback closed at N420.5/$1 on the Buyers 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 Alternate.

A complete of $71.99 million in FX worth exchanged palms on Wednesday as towards the $108.06 million that was traded in the day before today, representing a 33.38% lower.

The change charge 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 change charge 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 before today. The nation’s exterior had been on a downward development as a result of steady intervention by the Central Financial institution within the FX market in an effort to guarantee the soundness of the native foreign money. Nevertheless, elevated crude oil costs have seen the reserve stage enhance.

Buying and selling on the official NAFEX window

  • The change charge 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 charge closed at N419.46/$1 on Wednesday, twenty second June 2022, from N420.71/$1 recorded on Tuesday.
  • Moreover, an change charge of N444/$1 was the very best charge 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 palms 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 change charge between the naira and the US greenback closed at N420.28/$1 on the Buyers 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 Alternate.

A complete of $108.06 million in FX worth exchanged palms on Tuesday as towards the $46.07 million that was traded in the day before today, representing a surge of 134.6%

The change charge on the parallel market remained secure 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 change charge 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 before today. The nation’s exterior had been on a downward development as a result of steady intervention by the Central Financial institution within the FX market in an effort to guarantee the soundness of the native foreign money. Nevertheless, elevated crude oil costs have seen the reserve stage enhance.

Buying and selling on the official NAFEX window

  • The change charge 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 charge closed at N420.71/$1 on Tuesday, twenty first June 2022, from N490.71/$1 recorded on Monday.
  • Moreover, an change charge of N444/$1 was the very best charge 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% larger than the $46.07 million that exchanged palms 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 change charge between the naira and the US greenback closed at N421.33/$1 on the Buyers and Exporters (I&E) window.

Naira remained secure on the official Buyers and Exporters window on Monday, closing on the similar charge 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 Alternate.

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 change charge on the parallel market remained secure 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 change charge 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 before today. The nation’s exterior had been on a downward development as a result of steady intervention by the Central Financial institution within the FX market in an effort to guarantee the soundness of the native foreign money. Nevertheless, elevated crude oil costs have seen the reserve stage enhance.

Buying and selling on the official NAFEX window

  • The change charge began the week on a secure be aware because the naira closed flat at N421.33/$1, the identical as recorded within the earlier buying and selling session.
  • The opening indicative charge closed at N419.71/$1 on Monday, twentieth June 2022.
  • Moreover, an change charge of N444/$1 was the very best charge 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 change charge between the naira and the US greenback closed at N420.5/$1 on the Buyers and Exporters (I&E) window.

Naira grew weaker towards the US greenback on Thursday regardless of enchancment in FS provide on the official market. The change charge 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 Alternate.

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 palms within the earlier buying and selling session.

The change charge on the parallel market remained secure 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 change charge 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 before today. The nation’s exterior had been on a downward development as a result of steady intervention by the Central Financial institution within the FX market in an effort to guarantee the soundness of the native foreign money.

Buying and selling on the official NAFEX window

  • The change charge fell by 0.12% on Thursday, to shut at N420.5/$1 from N420/$1 recorded on Wednesday, fifteenth June 2022.
  • The opening indicative charge 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 change charge of N444/$1 was the very best charge 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 change charge between the naira and the US greenback closed at N420.75/$1 on the Buyers 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 stage since sixteenth of Might 2022. The autumn within the native foreign money is regardless of the 129.7% surge in foreign exchange turnover to $113.12 million on the I&E window.

In the meantime, the change charge remained secure 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 change charge 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 change charge.

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 before today. The nation’s exterior had been on a downturn since twenty fifth April 2022 largely as a result of steady intervention by the Central Financial institution within the FX market in an effort to guarantee the soundness of the native foreign money.

Buying and selling on the official NAFEX window

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

  • The opening indicative charge closed at N420.1/$1 on Tuesday, seventh June 2022, the identical as recorded on Monday.
  • Moreover, an change charge of N444/$1 was the very best charge 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 be aware 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 value to commerce at $38.835, Uniswap dipped 1.36% to commerce at $5.146, whereas Luna alternatively, gained 1.03% to commerce at $0.00006466.

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