The exchange rate between the naira and the US dollar at the black market appreciated further by 0.13 per cent on Monday morning, trading at an average of N745/$1 compared to N746/$1 recorded last week Friday.
However, the exchange rate at the cryptocurrency P2P exchange depreciated on Monday morning to trade at a minimum of N745/$1, a 0.15 per cent downturn compared to N743.9$1 recorded as of the same time last week Friday..
Meanwhile, the exchange rate at the investors and exporters (I&E) window closed at N461.5/$1 on Friday, the same as recorded in the previous trading session.
Forex turnover dipped by 55.6 per cent on Friday to $96.81 million, compared to the $217.86 million that was transacted in the previous session. Nigeria’s external reserves stood at $37.201 billion as of 19th January 2023, representing a decrease of 0.01 per cent from the $37.205 billion recorded on of 18th January 2023.