The exchange rate between Nigeria’s national currency, the naira, and the US dollar slipped a bit lower to N728/$1 at the black market, on Thursday, October 6, 2022, representing a slight appreciation of 0.27% from the N730/$1 recorded in the previous trading session.
On the other hand, the exchange rate at the official market depreciated slightly to close at N437.5/$1 on Wednesday, 5th October 2022, a little depreciation of 0.06% as against N437.25/$1 recorded on Tuesday and the highest rate on record.
$70.42 million was traded on Wednesday, 5th October 2022, recording a drop of 34.94% from $108.24 million that exchanged hands in the previous trading session, Nairametrics reports.
The exchange rate at the official market closed at N437.5/$1 on Wednesday, 5th October 2022, from N437.25/$1 recorded in the previous session.
The opening indicative rate closed at N437/$1 on Wednesday, 5th October 2022, a downturn from N437.5/$1 recorded on Tuesday.
Furthermore, an exchange rate of N460/$1 was the highest rate recorded during intra-day trading before it settled at N437.5/$1, while it traded as low as N425/$1 during intra-day trading.
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