Monday, twenty second August 2022: The trade fee between the naira and the US greenback closed at N429.43/$1 at the official overseas trade market.
The trade fee dipped barely to shut at N429.43/$1 in contrast to N429.05/$1 recorded on Friday nineteenth August, 2022, representing a 0.09% depreciation. Meanwhile, forex supply surged by 222.3% to $161.94 million from 50.22 million that exchanged palms in the earlier buying and selling session.
Similarly, Naira traded at N691/$1 on Tuesday morning, twenty third August 2022 at the peer-to-peer FX market, indicating a depreciation of 0.16% in contrast to N689.9/$1 recorded in the earlier buying and selling session.
Nigeria’s exterior reserves improved barely by 0.012% on Monday, twenty second August 2022, to stand at $38.912 billion from $38.907 billion recorded in the earlier buying and selling commerce. The reserve degree had dropped considerably year-to-date due to the fixed intervention by the CBN in the official FX market in a bid to handle trade fee volatility. However, improved non-oil export earnings is starting to elevate the reserves, albeit very low.
Trading at the official NAFEX window
The trade fee at the official market closed at N429.43 to a greenback on Monday, twenty second August 2022 recording a dip of 0.09% in contrast to 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 contrast to N428/$1 recorded in the final buying and selling session.
- Furthermore, 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% larger than the $50.22 million that exchanged palms on Friday, nineteenth August 2022.
Naira appreciates barely at black market, trades at N677/$1
Wednesday, seventeenth August 2022: The exchange rate between the naira and the US dollar closed at N429.38/$1 at the Investors and Exporters (I&E) window, the place forex is traded formally.
Naira appreciated barely, with a achieve of 0.3% on Wednesday to shut at N429.38 at the official market in contrast to N430.67/$1 recorded in the earlier buying and selling session. Notably, forex turnover additionally elevated by 134.4% to stand at $118.14 million traded on Wednesday from $50.4 million traded on Tuesday, sixteenth August 2022.
Similarly, Naira traded at N679.5/$1 in the early hours of Thursday, 18th August 2022 at the peer-to-peer FX market, indicating a 0.13% appreciation in opposition to the US greenback in contrast to N680.4/$1 recorded in the earlier buying and selling session.
Also, the trade fee at the parallel market appreciated marginally on Thursday, 18th August 2022, with a achieve of 0.44% to commerce at N677/$1 from N680/$1 recorded on Wednesday. This is in accordance ot info from black market FX merchants throughout the nation.
Nigeria’s external reserves on Tuesday, sixteenth August 2022, dipped barely by 0.01% to stand at $38.894 billion from $38.896 billion recorded as of the earlier week. The reserve degree had been on a downturn in current instances, due to the fixed intervention by the CBN in the official FX market in a bid to handle trade fee volatility.
Trading at the official NAFEX window
The trade fee at the official market appreciated on Wednesday, seventeenth August 2022 by 0.3% to shut at N429.38 to a greenback in contrast to N430.67/$1 recorded on Tuesday, sixteenth August 2022.
- The opening indicative fee closed at N427.58/$1 on Wednesday, seventeenth August 2022, in contrast to N429.88/$1 recorded in the earlier buying and selling session.
- Furthermore, 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 palms on Wednesday, which is 134.4% larger than the $50.4 million that was traded in the earlier buying and selling session.
Nigeria’s overseas 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 at the Investors and Exporters (I&E) window, the place forex is traded formally.
Naira depreciated by 0.16% to shut buying and selling at N430.67 at the official market. This follows a 62.5% decline in the quantity of traded FX in the market. Notably, forex turnover fell from $134.3 million traded on Monday to $50.4 million on Tuesday, sixteenth August 2022.
Similarly, Naira depreciated on Wednesday morning, buying and selling at a minimal of N680.4/$1 in contrast to N676.38/$1 recorded in the earlier buying and selling session.
Nigeria’s exterior reserves on Monday, fifteenth August 2022, continued their uptrend after gaining 0.03% to stand at $38.89 billion from $38.88 billion recorded as of the earlier week. The reserve degree had been on a downturn in current instances, due to the fixed intervention by the CBN in the official FX market in a bid to handle trade fee volatility.
Trading at the official NAFEX window
The trade fee at the official market depreciated on Tuesday, sixteenth August 2022 by 0.16% to shut at N430.67 to a greenback in contrast to N430/$1 recorded on Monday, fifteenth August 2022.
- The opening indicative fee closed at N429.88/$1 on Tuesday, sixteenth August 2022, in contrast to N429.7/$1 recorded in the earlier buying and selling session.
- Furthermore, 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 palms on Tuesday, which is 62.47% decrease than the $134.3 million that was traded in the earlier buying and selling session.
Official trade fee closes at N430/$1 as FX supply surges by 190% to $134.30 million
Monday, fifteenth August 2022: The trade fee between the naira and the US dollar closed at N430/$1 at the Investors and Exporters (I&E) window, the place forex 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 in the earlier buying and selling session. However, forex supply inclined considerably by 190% to $134.3 million from $46.31 million that exchanged palms on Friday, twelfth August 2022.
On the opposite hand, Naira recorded a marginal appreciation on Tuesday morning, buying and selling at a minimal of N676.38/$1 in contrast to N678.98/$1 recorded in the earlier buying and selling session.
Meanwhile, at the parallel market, the Naira fell to N678/$1 on Monday, closing with a 0.44% depreciation in contrast to N675/$1 recorded in the earlier buying and selling session as FX merchants continued to lament the shortage of forex and sustained excessive demand. This is in accordance to info obtained from black market FX merchants.
Nigeria’s exterior reserves recorded a uncommon achieve on Friday, twelfth August 2022, after the reserve degree improved barely by 0.01% to stand at $38.884 billion, from $38.881 billion recorded as of the day past. The reserve degree had been on a downturn in current instances, due to the fixed intervention by the CBN in the official FX market in a bid to handle trade fee volatility.
Trading at the official NAFEX window
The trade fee at 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 contrast to N429.67/$1 recorded in the earlier buying and selling session.
- Furthermore, 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 palms on Monday, which is 190% larger than the $46.31 million that was traded in the earlier buying and selling session.
Black market fee depreciates to N675/$1 as overseas reserve falls sharply under $39 billion
Tuesday, ninth August 2022: The trade fee between the naira and the US greenback closed at N428.75/$1 at the Investors and Exporters (I&E) window, the place forex 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 in the earlier buying and selling session. On the flip aspect, forex supply declined marginally by 1.75% to $113.64 million from $115.67 million that was traded on Monday, eighth August 2022.
On the opposite hand, at 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 contrast to the day past.
Similarly at the black market, Naira depreciated to N675/$1 on Tuesday, closing with a 1.5% decline in contrast to N665/$1 recorded in the earlier buying and selling session as FX traders lament the scarcity of forex and sustained excessive demand. This is in accordance to info obtained from black market FX merchants.
Nigeria’s exterior reserves fell sharply under the $39 billion mark on Monday, eighth August 2022, dropping by 0.24% to stand at $38.95 billion from $39.05 billion recorded as of the day past. This is basically due to the fixed intervention by the CBN in the Investors and Exporters window, to handle trade fee volatility.
Trading at the official NAFEX window
The trade fee at 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 contrast to N429/$1 recorded in the earlier buying and selling session.
- Furthermore, 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 palms on Tuesday, which is 1.75% decrease than the $115.67 million that was traded in the earlier buying and selling session.
Naira falls to N431/$1 at I&E window despite $115.7 million forex turnover
Monday, eighth August 2022: The trade fee between the naira and the US greenback closed at N431/$1 at the Investors and Exporters (I&E) window, the place forex is traded formally.
Naira began the week on a bearish notice, with a 0.67% depreciation to shut at N431/$1 in contrast to N428.12/$1 recorded in the earlier buying and selling session. This is despite a 60.83% improve in the quantity of forex traded in the market at $115.67 million.
In the identical vein, at 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 contrast to the day past.
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 stand at $39.09 billion as of Thursday, 4th August 2022 from $39.07 billion recorded as of the day past.
Trading at the official NAFEX window
The trade fee at 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 in the earlier buying and selling session.
- Furthermore, 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 palms on Monday, which is 60.83% larger than the $71.92 million that was traded in the earlier buying and selling session.
Naira appreciates at I&E window as overseas reserves data first achieve in two weeks
Thursday, 4th August 2022: The trade fee between the naira and the US greenback closed at N428.12/$1 at the Investors and Exporters (I&E) window, the place forex is traded formally.
Naira closed larger on Thursday, with a 0.25% appreciation in opposition to the US greenback to shut at N428.12/$1 in contrast to N429.2/$1 recorded in the earlier buying and selling session. A complete of $110.22 million was traded on Thursday, representing a 100.955% lower in comparison to the $123.78 million traded on Wednesday.
On the opposite hand, at 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 contrast to the day past.
Nigeria’s exterior reserves rose for the primary time in over two weeks, gaining marginally by 0.01% to stand at $39.07 billion from $39.07 billion recorded in the day past. The reserve degree had depreciated for eleven consecutive days, largely due to the fixed intervention by the apex financial institution in the I&E window.
Trading at the official NAFEX window
The trade fee at 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 in the earlier buying and selling session.
- Furthermore, 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 palms on Thursday, which is 10.95% decrease than the $123.78 million that was traded in the earlier buying and selling session.
Exchange 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 at the Investors and Exporters (I&E) window, the place forex 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 contrast to N430.67/$1 recorded in the earlier buying and selling session. A complete of $123.78 million was traded in the market on Wednesday, representing a 21.9% improve in comparison to the $158.68 million traded on Tuesday.
In the identical vein, the trade fee at the black market appreciated on Wednesday to shut at N665/$1 in contrast to N670/$1 recorded on Tuesday, representing a 0.75% foreign money appreciation in opposition to the US greenback.
Similarly, at 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 contrast to the day past. This is following a surprising depreciation recorded in the earlier week, when the naira fell to a document N705/$1 on account of FX shortage and panic shopping for.
Meanwhile, Nigeria’s exterior reserves recorded its eleventh consecutive decline on Tuesday, dropping by 0.1% to stand at $39.07 billion from $39.1 billion recorded as of Monday, 1st August 2022. The decline in the nation’s exterior reserve could possibly be attributed to the elevated movement of FX in the official market in the previous two days.
Trading at the official NAFEX window
The trade fee at 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 in the earlier buying and selling session.
- Furthermore, 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 palms on Wednesday, which is 21.9% decrease than the $158.68 million that was traded in the earlier buying and selling session.
Naira falls at I&E window despite a 163% surge in forex supply
Tuesday, 2nd August 2022: The trade fee between the naira and the US greenback closed at N430.67/$1 at the official Investors 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 in the earlier buying and selling session. This is despite the 163.3% improve in forex turnover to $158.68 million.
On the opposite hand, the trade fee at the black market recorded a big appreciation on Tuesday, closing at N670/$1 in contrast to N718/$1 recorded on Monday, representing a 6.69% foreign money appreciation in opposition to the US greenback.
Similarly, at the peer-to-peer market, naira rose to N652.5/$1 on Wednesday morning from N669/$1 recorded on Tuesday. This is following a surprising depreciation recorded in the earlier week, when the naira fell to a document N705/$1 on account of FX shortage and panic shopping for.
Meanwhile, Nigeria’s exterior reserves recorded its tenth consecutive decline on Monday, dropping by 0.23% to stand at $39.1 billion from $39.18 billion recorded as of Friday, twenty ninth July 2022. The decline in the nation’s exterior reserve could possibly be attributed to the elevated movement of FX in the official market in the previous two days.
Trading at the official NAFEX window
The trade fee at 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 in the earlier buying and selling session.
- Furthermore, 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 palms on Tuesday, which is 163.28% larger than the $60.27 million that was traded in the earlier buying and selling session.
Official trade fee falls to document low at N431/$1
Tuesday, twenty sixth July 2022: The trade fee between the naira and the US greenback closed at N431/$1 at the official Investors 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 the beginning of the week, the bottom fee recorded at the official market year-to-date. In the identical vein, forex turnover declined by 35.37% to $58.03 million in contrast to $89.79 million that exchanged palms in the earlier buying and selling session.
Also, with additional shortage of forex in the market, the trade fee at the peer-to-peer market depreciated considerably to a document low of N685.5/$1 in the early hours of Wednesday, representing a 2.77% decline in contrast to N667/$1 recorded on Tuesday morning. This is the best fee recorded in the unofficial market, in accordance to data tracked by Nairalytics.
Meanwhile, Nigeria’s exterior reserves recorded its fifth consecutive decline on Monday, dropping by 0.21% to stand at $39.31 billion from $39.39 billion recorded as of Friday, twenty second July 2022. The decline in the nation’s exterior reserve could possibly be attributed to the elevated movement of FX in the official market in the previous two days.
Trading at the official NAFEX window
- The trade fee at 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 in the earlier buying and selling session.
- Furthermore, 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 palms on Tuesday, which is 35.37% decrease than the $89.79 million that was traded in the earlier buying and selling session.
Official trade fee appreciates as forex supply surges by 146%
Monday, twenty fifth July 2022: The trade fee between the naira and the US greenback closed at N427.17/$1 at the Investors and Exporters (I&E) window, the place forex is traded formally.
Naira began the week with a 0.66% appreciation in opposition to the US greenback at the official market to shut at N427.17/$1 in contrast to N430/$1 recorded in the earlier buying and selling session. The upward motion in the native foreign money is following the 146.2% improve in the quantity of forex traded on the ground of the trade.
Also, with the additional shortage of forex in the market, the trade fee at the peer-to-peer market depreciated considerably to a document low of N667/$1 in the early hours of Tuesday, representing a 1.72% decline in contrast to N655.73/$1 recorded on Monday morning. This is the best fee recorded in the unofficial market, in accordance to information tracked by Nairalytics.
Meanwhile, Nigeria’s exterior reserves recorded its fourth consecutive decline on Friday, dropping by 0.05% to stand at $39.39 billion from $39.41 billion recorded as of Thursday, twenty first July 2022. The decline in the nation’s exterior reserve could possibly be attributed to the elevated movement of FX in the official market in the previous two days.
The CBN had defined over the last MPC session that Nigeria’s exterior reserve grew in the month of June 2022 on account of elevated non-oil export and enchancment in diaspora remittances via its RT200 and Naira4dollar programmes respectively.
Trading at the official NAFEX window
The trade fee at 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 in the earlier buying and selling session.
- Furthermore, 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 palms on Monday, which is 146.2% larger than the $36.47 million that was traded in the earlier buying and selling session.
Exchange fee skyrockets to N644/$1 at peer-to-peer market as forex shortage lingers
Wednesday, twentieth July 2022: The trade fee between the naira and the US greenback closed at N426.58/$1 at the Investors and Exporters (I&E) window, the place forex is traded formally.
Naira retracted on Wednesday, depreciating by 0.57% to shut at N426.58/$, from N424.17/$1 recorded in the earlier commerce session. In the identical vein, forex supply fell by 62.45% to $144.03 million from the document of #383.59 million that was traded on Tuesday.
Also, with the additional shortage of forex in the market, the trade fee at the peer-to-peer market depreciated considerably to a document low of N644.25/$1 in the early hours of Thursday, representing a 1.44% decline in contrast to N635.1/$1 recorded on Wednesday morning. This is the best fee recorded in the unofficial market, in accordance to information tracked by Nairalytics.
On the opposite hand, the trade fee at the parallel market appreciated barely by 0.16% to shut buying and selling actions on Wednesday at N629/$1 in contrast to N630/$1 recorded in the earlier buying and selling session. This is in accordance to info 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 stand at $39.43 billion in contrast to $39.44 billion recorded as of the day past. The decline in the nation’s exterior reserve could possibly be attributed to the elevated movement of FX in the official market in the previous two days.
The CBN had defined over the last MPC session that Nigeria’s exterior reserve grew in the month of June 2022 on account of elevated non-oil export and enchancment in diaspora remittances via its RT200 and Naira4dollar programmes respectively.
Trading at the official NAFEX window
The trade fee at 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 in the earlier buying and selling session.
- Furthermore, 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 palms on Wednesday, which is 62.45% decrease than the $383.59 million that was traded in the earlier buying and selling session.
Official trade fee appreciates as Forex supply 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 at the official Investors and Exporters (I&E) window.
Naira appreciated considerably in opposition to the US greenback at the official market on Tuesday, with a 1.16% achieve to shut at N424.17/$1, in contrast to N429.13/$ recorded as of the shut of buying and selling actions in the earlier buying and selling session.
The appreciation of the native foreign money is following the 301.3% improve in the quantity of forex equipped in the official market. A complete of $383.59 million in FX worth was traded on Tuesday, nineteenth July 2022, a rise in contrast to $95.58 million that exchanged palms on Monday.
On the opposite hand, the trade fee at the parallel market fell by 1.69% to shut buying and selling actions on Monday at N630/$1 in contrast to N619.5/$1 recorded in the earlier buying and selling session. This is in accordance to info from Bureau De Change operators.
Also, the trade fee at the peer-to-peer market depreciated additional by 0.78% on Wednesday morning to commerce at a minimal of N635.1/$1 in contrast to N630.2/$1 recorded on Tuesday morning. This is the best fee recorded at the unofficial market, in accordance to information tracked by Nairalytics.
Nigeria’s exterior reserves elevated by 0.01% on Monday, 18th July 2022 to stand at $39.45 billion from $39.43 billion recorded as of the day past. This represents the twenty seventh straight day of enchancment for the nation’s overseas reserve.
The exterior reserve had been on a downward pattern due to the continual intervention by the Central Bank in the FX market in order to guarantee the soundness of the native foreign money. However, elevated crude oil costs have seen the reserve degree enhance.
Trading at the official NAFEX window
The trade fee at 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 in the earlier buying and selling session.
- Furthermore, 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 palms on Tuesday, which is 301.33% larger than the $63.19 million that was traded in the earlier buying and selling session.
Naira falls to N630/$1 at the black market
Monday, 18th July 2022: The trade fee between the naira and the US greenback closed at N429.13/$1 at the official Investors and Exporters (I&E) window.
Naira appreciated barely in opposition to the US greenback at the official market on Monday, with a 0.28% appreciation to shut at N429.13/$1, in contrast to N430.33/$ recorded as of the shut of buying and selling actions in the earlier buying and selling session.
The appreciation of the native foreign money is following the 51.26% improve in the quantity of forex equipped in the official market. A complete of $95.58 million in FX was traded on Monday, 18th July 2022, a rise in contrast to $63.19 million that exchanged palms on Friday, final week.
On the opposite hand, the trade fee at the parallel market fell by 1.69% to shut buying and selling actions on Monday at N630/$1 in contrast to N619.5/$1 recorded in the earlier buying and selling session. This is in accordance to info from Bureau De Change operators.
Also, the trade fee at the peer-to-peer market depreciated by 1.69% on Tuesday morning to commerce at a minimal of N630.2/$1 in contrast to N623.1/$1 recorded on Monday morning. This is the best fee recorded at the unofficial market, in accordance to information tracked by Nairalytics.
Nigeria’s exterior reserves elevated by 0.03% on Friday, fifteenth July 2022 to stand at $39.44 billion from $39.43 billion recorded as of the day past. This represents the twenty sixth straight day of enchancment for the nation’s overseas reserve.
The exterior reserve had been on a downward pattern due to the continual intervention by the Central Bank in the FX market in order to guarantee the soundness of the native foreign money. However, elevated crude oil costs have seen the reserve degree enhance.
Trading at the official NAFEX window
- The trade fee at 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 in the earlier buying and selling session.
- Furthermore, 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 palms on Monday, which is 51.26% larger than the $63.19 million that was traded in the earlier buying and selling session.
Naira falls huge 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 at the official Investors and Exporters (I&E) window.
Naira depreciated massively in opposition to the US greenback at the official market on Friday, with a 1.34% decline to shut at N430.33/$1, in contrast to N424.62/$ recorded as of the shut of buying and selling actions in the earlier buying and selling session. This is the bottom degree on document, apart from thirty first December 2021.
The depreciation of the native foreign money is following the sustained low forex turnover 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 contrast to $87.95 million that exchanged palms on Thursday.
Also, the trade fee at the peer-to-peer market depreciated by 0.14% on Saturday morning to commerce at a minimal of N623.1/$1 in contrast to N622.25/$1 recorded on Friday morning. This is the best fee recorded at the unofficial market, in accordance to information tracked by Nairalytics.
On the opposite hand, the trade fee at the parallel market remained flat on Friday, closing at N618/$, the identical as recorded in the earlier buying and selling session. This is in accordance to info from Bureau De Change operators.
Nigeria’s exterior reserves elevated by 0.02% on Thursday, 14th July 2022 to stand at $39.43 billion from $39.42 billion recorded as of the day past. This represents the twenty fifth straight day of enchancment for the nation’s overseas reserve.
The exterior reserve had been on a downward pattern due to the continual intervention by the Central Bank in the FX market in order to guarantee the soundness of the native foreign money. However, elevated crude oil costs have seen the reserve degree enhance.
Trading at the official NAFEX window
- The trade fee at 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 in the earlier buying and selling session.
- Furthermore, 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 palms on Friday, which is 28.15% decrease than the $87.95 million that was traded in the earlier buying and selling session.
Exchange fee depreciates at I&E window despite enchancment in FX supply
Thursday, 14th July 2022: The trade fee between the naira and the US greenback closed at N424.62/$1 at the official Investors and Exporters (I&E) window.
Naira depreciated marginally in opposition to the US greenback at the official market on Thursday, with a 0.01% decline to shut at N424.62/$1, despite a 44.56% improve in forex turnover. Specifically, a complete of $87.95 million in FX worth exchanged palms in the market on Thursday in contrast to $60.84 million that was traded in the earlier buying and selling session.
Also, the trade fee at the peer-to-peer market depreciated by 0.29% on Friday morning to commerce at a minimal of N622.25/$1 in contrast to N620.41/$1 recorded on Thursday morning. This is the best fee recorded at the unofficial market, in accordance to information tracked by Nairalytics.
On the opposite hand, the trade fee at the parallel market remained flat on Thursday, closing at N618/$, the identical as recorded in the earlier buying and selling session. This is in accordance to info from Bureau De Change operators.
Nigeria’s exterior reserves elevated by 0.17% on Wednesday, thirteenth July 2022 to stand at $39.42 billion from $39.35 billion recorded the day past. This represents the twenty fourth straight day of enchancment for the nation’s overseas reserve.
The exterior reserve had been on a downward pattern due to the continual intervention by the Central Bank in the FX market in order to guarantee the soundness of the native foreign money. However, elevated crude oil costs have seen the reserve degree enhance.
Trading at the official NAFEX window
- The trade fee at 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 in the earlier buying and selling session.
- Furthermore, 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 palms on Thursday, which is 44.56% larger than the $60.84 million that was traded in 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 at the Investors and Exporters (I&E) window, the place forex is traded formally.
Naira appreciated barely in opposition to the US greenback at the official market on Wednesday, with a 0.36% achieve to shut at N424.58/$1, following a 25.01% improve in forex turnover. Specifically, a complete of $60.84 million in FX worth exchanged palms in the market on Wednesday in contrast to $48.67 million that was traded in the earlier buying and selling session.
On the opposite hand, the trade fee at the parallel market depreciated to N618/$1 on Wednesday, falling by 0.49% in contrast to N615/$1 recorded on Friday, the earlier week. This is in accordance to info from Bureau De Change operators.
Also, the trade fee at the peer-to-peer market depreciated by 0.72% on Thursday morning to commerce at a minimal of N620.41/$1 in contrast to N616/$1 recorded on Wednesday morning. This is the best fee recorded at the unofficial market, in accordance to information tracked by Nairalytics.
Nigeria’s exterior reserves elevated by 0.03% on Friday, eighth July 2022 to stand at $39.35 billion from $39.34 billion recorded the day past. This represents the twenty third straight day of enchancment for the nation’s overseas reserve.
The exterior reserve had been on a downward pattern due to the continual intervention by the Central Bank in the FX market in order to guarantee the soundness of the native foreign money. However, elevated crude oil costs have seen the reserve degree enhance.
Trading at the official NAFEX window
- The trade fee at 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 in the earlier buying and selling session.
- Furthermore, 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 palms on Wednesday, which is 25.01% larger than the $46.67 million that was traded in the earlier buying and selling session.
Naira falls at I&E window despite huge enchancment in greenback supply
Thursday, seventh July 2022: The trade fee between the naira and the US greenback closed at N428.16/$1 at the Investors and Exporters (I&E) window, the place forex is traded formally.
Naira depreciated in opposition to the US greenback at the official market on Thursday, with a 0.1% decline to shut at N428.16/$1 despite a 172.95% surge in the quantity of forex that was traded in the market. Specifically, forex turnover improved to $222.84 million, the best recorded since 2nd June 2022.
However, the trade fee at the parallel market remained flat at N616/$1, the identical as recorded in the earlier buying and selling session. This is in accordance to info from Bureau De Change operators.
Also, the trade fee at the peer-to-peer market depreciated marginally by 0.03% on Friday morning to commerce at a minimal of N618.2/$1 in contrast to N618/$1 recorded on Thursday morning.
Nigeria’s exterior reserves elevated by 0.17% on Wednesday, sixth July 2022 to stand at $39.34 billion from $39.27 billion recorded the day past. This represents the twenty first straight day of enchancment for the nation’s overseas reserve.
The exterior reserve had been on a downward pattern due to the continual intervention by the Central Bank in the FX market in order to guarantee the soundness of the native foreign money. However, elevated crude oil costs have seen the reserve degree enhance.
Trading at the official NAFEX window
The trade fee at 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 in the earlier buying and selling session.
- Furthermore, 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 palms on Thursday, which is 222.84% larger than the $81.64 million that was traded in the earlier buying and selling session.
Naira falls to N431/$1 at the official forex market
Wednesday, sixth July 2022: The trade fee between the naira and the US greenback closed at N427.75/$1 at the Investors 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. Similarly, a complete of $81.64 million trade palms in the official market on Wednesday, in accordance to info obtained from FMDQ web site.
The trade fee at the parallel market depreciated on Wednesday, closing at N616/$1 in contrast to N613/$1 recorded on Tuesday, fifth July 2022. Bureau De Change operators who spoke to Nairametrics attributed the downturn to forex shortage and elevated demand.
Similarly, the trade fee at the peer-to-peer market depreciated marginally by 0.16% on Thursday morning to commerce at a minimal of N618/$1 in contrast to N617/$1 recorded on Wednesday morning.
Nigeria’s exterior reserves elevated by 0.04% on Tuesday, fifth July 2022 to stand at $39.27 billion from $39.25 billion recorded the day past. This represents the twentieth straight day of enchancment for the nation’s overseas reserve.
The exterior reserve had been on a downward pattern due to the continual intervention by the Central Bank in the FX market in order to guarantee the soundness of the native foreign money. However, elevated crude oil costs have seen the reserve degree enhance.
Trading at the official NAFEX window
- The trade fee at 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 in the earlier buying and selling session.
- Furthermore, 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 in the official I&E window on Wednesday.
Naira falls throughout FX markets as greenback supply dips considerably
Monday, 4th July 2022: The trade fee between the naira and the US greenback closed at N425.75/$1 at the Investors 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 contrast to N425/$1 recorded in the earlier buying and selling periods. In the identical vein, the entire forex supply declined by 39.69% to $47.56 million, the bottom in two seeks.
The trade fee at the parallel market depreciated marginally on Monday, closing at N613/$1 in contrast to N612/$1 recorded as of Friday, 1st July 2022. Bureau De Change operators who spoke to Nairametrics attributed the downturn to forex shortage and elevated demand.
Similarly, the trade fee at the peer-to-peer market depreciated marginally by 0.09% on Tuesday morning to commerce at a minimal of N616.49/$1 in contrast to N615.9/$1 recorded on Monday morning.
Nigeria’s exterior reserves elevated by 0.05% on Friday, 1st July 2022 to stand at $39.17 billion from $39.16 billion recorded the day past. This represents the 18th straight day of enchancment for the nation’s overseas reserve.
The exterior reserve had been on a downward pattern due to the continual intervention by the Central Bank in the FX market in order to guarantee the soundness of the native foreign money. However, elevated crude oil costs have seen the reserve degree enhance.
Trading at the official NAFEX window
The trade fee at 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 in the earlier buying and selling session.
- Furthermore, 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 in the official I&E window on Monday, which is 39.69% decrease than the $78.86 million that exchanged palms in the earlier buying and selling session.
Naira closes week weaker as black market fee hits N615/$
The trade fee between the naira and the US greenback closed the week weaker at the official Investor and Exporter window, closing at N425/$1 on Friday, 1st July 2022 in contrast to N420.13/$1 recorded in the earlier week.
This is in accordance to Nairalytics trade tracker culled from the web site of FMDQ. Naira depreciated by 1.2% week-on-week in opposition to the US greenback. Meanwhile, the entire quantity of FX traded in the market elevated marginally by 6.27% to $627.94 million in the evaluation week in contrast to $590.91 million that exchanged palms in the earlier week.
On the opposite hand, naira closed the week at N612/$1 at the parallel market from N610/$ recorded at the shut of the earlier week, hitting a document N615/$1 throughout the week. Also, the trade fee closed at N615/$1 at the peer-to-peer market from N612.59/$ recorded final week.
Trading at the official NAFEX window
- The trade fee at the official market fell additional in 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.
- Furthermore, an trade fee of N444/$1 was the best fee recorded throughout 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 in the official I&E window throughout the week, which is 6.27% larger than the $590.91 million that exchanged palms in the earlier week.
- Nigeria’s foreign money has been confronted with immense strain from decline in export earnings and surging FX demand in the nation, main to tightened forex liquidity. A cursory examine reveals that the trade fee has depreciated to its highest degree year-to-date at the official market despite fixed CBN interventions.
- On the flip aspect, the native foreign money has declined by 8.3% year-to-date at the black market, beginning the yr at N565/$1, now buying and selling at N612/$.
Naira falls additional at the official market as forex turnover declines
Thursday, thirtieth June 2022: The trade fee between the naira and the US greenback closed at N425.05/$1 at the Investors 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 contrast to N424.88/$1 recorded in the earlier buying and selling periods. In the identical vein, the entire forex supply declined by 32.1% to $76.64 million from $112.83 million that exchanged palms in the earlier buying and selling session.
The trade fee at the parallel market remained flat on Thursday to shut at N615/$1, the identical as recorded in the earlier buying and selling session. This is in accordance to info from BDC operators. This is the bottom degree that the native foreign money has fallen, as BDC operators attributed the downturn to forex shortage and elevated demand.
Similarly, the trade fee at the peer-to-peer market appreciated marginally by 0.19% on Friday morning to commerce at N615/$1 in contrast to N616.15/$1 recorded on Thursday morning.
Nigeria’s exterior reserves elevated by 0.1% on Wednesday, twenty ninth June 2022 to stand at $39.13 billion from $39.09 billion recorded the day past. This represents the sixteenth straight day of enchancment for the nation’s overseas reserve.
The exterior reserve had been on a downward pattern due to the continual intervention by the Central Bank in the FX market in order to guarantee the soundness of the native foreign money. However, elevated crude oil costs have seen the reserve degree enhance.
Trading at the official NAFEX window
- The trade fee at 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.
- Furthermore, 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 in the official I&E window on Thursday, which is 32.07% decrease than the $112.83 million that exchanged palms in 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 at the Investors 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 contrast to N421.5/$1 recorded in the earlier buying and selling periods. This represents the bottom degree reached by the native foreign money between January to date 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. This is in accordance to info from the web site the FMDQ Exchange.
The trade fee at the parallel market remained flat on Wednesday to shut at N615/$1 on Wednesday, the identical as recorded in the earlier buying and selling session. This is in accordance to info from BDC operators. This is the bottom degree that the native foreign money has fallen, as BDC operators attributed it to forex shortage and elevated demand.
Similarly, the trade fee at the peer-to-peer market appreciated marginally by 0.19% on Thursday morning to commerce at N616.15/$1 in contrast to N617.29/$1 recorded on Wednesday morning.
Nigeria’s exterior reserves elevated by 0.1% on Tuesday, twenty eighth June 2022 to stand at $39.09 billion from $39.06 billion recorded the day past. This represents the fifteenth straight day of enchancment for the nation’s overseas reserve.
The exterior reserve had been on a downward pattern due to the continual intervention by the Central Bank in the FX market in order to guarantee the soundness of the native foreign money. However, elevated crude oil costs have seen the reserve degree enhance.
Trading at the official NAFEX window
- The trade fee at the official market fell huge 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.
- Furthermore, 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 in the official I&E window on Wednesday, which is 45.4% decrease than the $206.65 million that exchanged palms in the earlier buying and selling session.
Exchange fee appreciates at I&E window as forex supply rises to 3-week excessive
Thursday, twenty third June 2022: The trade fee between the naira and the US greenback closed at N420/$1 at the Investors and Exporters (I&E) window.
Naira gained in opposition to the US greenback on Thursday, reaching its highest degree in the week to shut at N420.17/$1, representing a 0.08% appreciation in contrast to N420.5/$1 recorded in the earlier buying and selling session. This is in accordance to info from the web site the FMDQ Exchange.
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 past, representing a 180.33% improve.
The trade fee at 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. This is in accordance to info from BDC operators.
Meanwhile, the trade fee at 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 contrast to 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 stand at $38.85 billion from $38.82 billion recorded the day past. This represents the eleventh straight day of enchancment for the nation’s overseas reserve.
The exterior reserve had been on a downward pattern due to the continual intervention by the Central Bank in the FX market in order to guarantee the soundness of the native foreign money. However, elevated crude oil costs have seen the reserve degree enhance.
Trading at the official NAFEX window
The trade fee at the official market recorded a slight achieve 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.
- Furthermore, 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 in the official I&E window on Thursday, which is 180.33% larger than the $71.99 million that exchanged palms in the earlier buying and selling session.
Naira falls to N611/$1 at the black market as FX liquidity tightens
The trade fee between the naira and the US greenback closed at N420.5/$1 at the Investors and Exporters (I&E) window.
Naira closed barely weaker on Wednesday with a 0.05% depreciation to shut at N420.5/$1 in contrast to N420.28/$1 recorded in the earlier buying and selling session. This is in accordance to info from the web site the FMDQ Exchange.
A complete of $71.99 million in FX worth exchanged palms on Wednesday as in opposition to the $108.06 million that was traded in the day past, representing a 33.38% lower.
The trade fee at 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. This is in accordance to info from BDC operators.
Meanwhile, the trade fee at the peer-to-peer market recorded a slight uptick on Thursday morning, buying and selling at N612.85/$1 in contrast to N613/$ 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 stand at $38.82 billion from $38.79 billion recorded the day past. The nation’s exterior had been on a downward pattern due to the continual intervention by the Central Bank in the FX market in order to guarantee the soundness of the native foreign money. However, elevated crude oil costs have seen the reserve degree enhance.
Trading at the official NAFEX window
- The trade fee at the official market depreciated marginally by 0.05% on Wednesday to shut at N420.5/$1 in contrast to 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.
- Furthermore, 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 in the official I&E window on Wednesday, which is 33.38% decrease than the $108.06 million that exchanged palms in the earlier buying and selling session.
Forex supply 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 at the Investors and Exporters (I&E) window.
Naira closed stronger on Tuesday with a 0.25% achieve to shut at N420.28/$1 in contrast to N421.33/$1 recorded in the final two buying and selling periods. This is in accordance to info culled from the web site the FMDQ Exchange.
A complete of $108.06 million in FX worth exchanged palms on Tuesday as in opposition to the $46.07 million that was traded in the day past, representing a surge of 134.6%
The trade fee at 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. This is in accordance to info from BDC operators.
Meanwhile, the trade fee at the peer-to-peer market depreciated by 0.13% on Wednesday morning, buying and selling at N613/$1 in contrast to N612.19/$ 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 stand at $38.79 billion from $38.69 billion recorded the day past. The nation’s exterior had been on a downward pattern due to the continual intervention by the Central Bank in the FX market in order to guarantee the soundness of the native foreign money. However, elevated crude oil costs have seen the reserve degree enhance.
Trading at the official NAFEX window
- The trade fee at the official market improved by 0.25% on Tuesday to shut at N420.28 to a greenback in contrast to 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.
- Furthermore, 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 bought for as little as N413/$1 throughout intra-day buying and selling.
- A complete of $108.06 million in FX worth was traded in the official I&E window on Tuesday, which is 134.6% larger than the $46.07 million that exchanged palms in the earlier buying and selling session.
Naira closes flat at official market as FX supply crashes to $46.1 million
Monday, twentieth June 2022: The trade fee between the naira and the US greenback closed at N421.33/$1 at the Investors and Exporters (I&E) window.
Naira remained secure at the official Investors and Exporters window on Monday, closing at the identical fee because it did on Friday of the earlier week at N421.33/$1. This is in accordance to info culled from the web site the FMDQ Exchange.
The quantity of FX that was traded in the I&E window crashed considerably to its lowest in over two months at $46.07 million.
The trade fee at 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. This is in accordance to info from BDC operators.
Meanwhile, the trade fee at the peer-to-peer market depreciated by 0.15% on Tuesday morning, buying and selling at N612.19/$1 in contrast to N611.3/$ 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 stand at $38.69 billion from $38.66 billion recorded the day past. The nation’s exterior had been on a downward pattern due to the continual intervention by the Central Bank in the FX market in order to guarantee the soundness of the native foreign money. However, elevated crude oil costs have seen the reserve degree enhance.
Trading at the official NAFEX window
- The trade fee began the week on a secure notice because the naira closed flat at N421.33/$1, the identical as recorded in the earlier buying and selling session.
- The opening indicative fee closed at N419.71/$1 on Monday, twentieth June 2022.
- Furthermore, 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 bought for as little as N413/$1 throughout intra-day buying and selling.
- A complete of $46.07 million in FX worth was traded in the official I&E window on Monday, which is the bottom recorded since 4th April 2022.
Naira falls at official market despite improved forex liquidity
Thursday, sixteenth June 2022: The trade fee between the naira and the US greenback closed at N420.5/$1 at the Investors and Exporters (I&E) window.
Naira grew weaker in opposition to the US greenback on Thursday despite enchancment in FS supply at the official market. The trade fee declined by 0.12% to shut at N420.5/$1 in contrast to N420/$1, which it closed on Wednesday. This is in accordance to info culled from the web site the FMDQ Exchange.
The quantity of FX that was traded in the I&E window elevated by 9.41% to $136.35 million from $124.62 million that exchanged palms in the earlier buying and selling session.
The trade fee at the parallel market remained secure on Thursday, having closed at N607/$1, the identical as recorded throughout the earlier buying and selling session. This is in accordance to info from BDC operators.
Meanwhile, the trade fee at the peer-to-peer market appreciated by 0.45% on Friday morning, buying and selling at N607/$1 in contrast to N609.74/$ 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 stand at $38.63 billion from $38.62 billion recorded the day past. The nation’s exterior had been on a downward pattern due to the continual intervention by the Central Bank in the FX market in order to guarantee the soundness of the native foreign money.
Trading at 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 contrast to N419.65/$1 recorded on Tuesday.
- Furthermore, 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 bought for as little as N413/$1 throughout intra-day buying and selling.
- A complete of $136.35 million in FX worth was traded in the official I&E window on Thursday, representing a 9.41% improve in contrast to $124.62 million traded in the earlier buying and selling session.
Naira falls to N420/$1 at I&E window despite moderations at parallel market
Tuesday, seventh June 2022: The trade fee between the naira and the US greenback closed at N420.75/$1 at the Investors and Exporters (I&E) window.
Naira recorded a 0.12% depreciation on Tuesday to shut at N420.75/$1 in contrast to N420.25/$1 recorded in the earlier buying and selling session, representing its lowest degree since sixteenth of May 2022. The fall in the native foreign money is despite the 129.7% surge in forex turnover to $113.12 million at the I&E window.
Meanwhile, the trade fee remained secure at the parallel market, closing at N606 to a greenback on Tuesday, the identical as recorded in the previous two buying and selling periods. This is in accordance to info from BDC operators in Nigeria.
The trade fee at the P2P market moderated additional on Wednesday, beginning the day as little as N601/$1, in contrast to N602.5/$1 recorded as of the identical time on Tuesday. This represents a 0.25% appreciation of the trade fee.
Meanwhile, Nigeria’s exterior reserves fell by 0.09% on Monday, 4th June 2022 to stand at $38.42 billion from $38.46 billion recorded the day past. The nation’s exterior had been on a downturn since twenty fifth April 2022 largely due to the continual intervention by the Central Bank in the FX market in order to guarantee the soundness of the native foreign money.
Trading at 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.
- Furthermore, 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 bought for as little as N413/$1 throughout intra-day buying and selling.
- A complete of $113.12 million in FX worth was traded in the official I&E window on Tuesday, representing a 129.73% improve in contrast to $49.24 million traded in the earlier buying and selling session.
Crypto market replace
- Despite the restoration posted in the cryptocurrency market yesterday, the market resumed buying and selling actions on Wednesday on a bearish notice because the trade capitalization declined by 1.75% to stand at $1.22 trillion.
- 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).
- Similarly, Solana recorded a 1.18% decline in worth to commerce at $38.835, Uniswap dipped 1.36% to commerce at $5.146, whereas Luna then again, gained 1.03% to commerce at $0.00006466.