Naira appreciates to N745/$1 at black market 

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.