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Naira Appreciates To N745/$1 At The Black Market On 20th December 2022

Naira Appreciates To N745/$1 At The Black Market On 20th December 2022
Naira Appreciates To N745/$1 At The Black Market On 20th December 2022

The exchange rate between the Naira and the US dollar improved at the black market on Tuesday, 20th December 2022, trading at an average of N745/$1, representing a 0.13% appreciation compared to N746/$1 recorded on Monday.

This is according to information from black market traders in Lagos Nigeria. According to the traders, they buy FX between N735/$1 and N740/$1, while they sell at a minimum of N743/$1 and a maximum of N745/$1.

Likewise, the exchange rate between the naira and the US dollar at the P2P cryptocurrency market appreciated by 0.71% to trade at a minimum of N744.48/$1 on Tuesday morning, from N749.8/$1 recorded during the previous trading session.

Meanwhile, the exchange rate at the official Investors and Exporters window remained closed flat at N451.5/$1 on Monday, 19th December 2022, the same as recorded on Friday, the previous week.

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A total of $69.18 million was traded at the exchange on Monday, which is 80.52% lower than the $355.12 million that exchanged hands on Friday, 16th December 2022. Meanwhile, the nation’s external reserve stood at $36.94 billion as of 16th December 2022, a 0.02% decline from $36.95 billion recorded as of the previous day.




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