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HomeCapital MarketLatest Black Market Exchange Rate As Naira Continues To Fall Against Dollar

Latest Black Market Exchange Rate As Naira Continues To Fall Against Dollar

The naira has exchanged N875/$1 at the black market on Monday, 7th November 2022.

This is in contrast to an average of N870/$1 recorded in the previous trading session, according to Nairametrics.

The latest update is according to information from black market traders who spoke to Nairametrics.

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However, the exchange rate at the cryptocurrency peer-to-peer FX market between the local currency and the US dollar moderated by 1.42% to trade at a minimum of N861/$1 on Monday morning from N873.44/$1 that it traded at the same time on Friday, 4th November, 2022.

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Meanwhile, the naira closed against the US dollar on Friday at N445.5/$1, recording a slight upward movement from N445.75/$1 that it closed in the previous trading session.

Meanwhile, FX turnover at the I&E window declined by 43.63% to $94.07 million on Friday, as against $166.88 million that was traded on Thursday.

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