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HomeCapital MarketNaira Continues To Depreciate Against Dollar, See Latest Exchange Rate

Naira Continues To Depreciate Against Dollar, See Latest Exchange Rate

The naira has exchanged N760/$1 at the black market on Wednesday, 26th October 2022.

According to Nairametrics, this represents an 0.66% depreciation from N755/$1 recorded on Tuesday.

This is according to information from black market traders who spoke to Nairametrics.

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However, the exchange rate between the naira and the US dollar at the I&E official window fell slightly by 0.07% to close at N441.67/$1 on Tuesday, 25th October 2022, when compared to N441.38/$1 recorded in the previous trading session.

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Meanwhile, the FX turnover at the I&E window appreciated marginally by 101.19% to $79.41 million on Tuesday when compared to $39.47 million that was traded on Monday. Also, Nigeria’s external reserve stood at $37.56 billion as of 24th October 2022, representing a decline of 0.24% in contrast to $37.65 billion recorded the previous day.

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