Tuesday, June 14, 2022: The exchange rate between the naira and the US dollar closed at N420.75/$1 at the Investors and Exporters (I&E) counter.

The naira appreciated against the USD on Tuesday, following Monday’s public holiday on Nigeria’s Democracy Day. The exchange rate appreciated by 0.12% to close at N420.75/$1 from the N421.25/$1 recorded at the close of trading on Friday last week.

Additionally, a total of $115.1 million was traded on Tuesday, representing a 9.49% increase in currency supply from the $105.11 million traded in the previous trading session. .

Similarly, the exchange rate in the parallel market appreciated by 0.16% to close at N607/$1, as opposed to N608/$1 recorded in the previous trading session. This is according to information from BDC operators.

Meanwhile, the exchange rate in the peer-to-peer market depreciated by 0.67% on Wednesday morning, falling to its lowest level ever at N609.95/$ from N605.91/$ recorded on Tuesday, June 14, 2022.

Meanwhile, Nigeria’s external reserves appreciated by 0.08% on Friday, June 10, 2022 to stand at $38.55 billion from $38.52 billion recorded the previous day. The country’s external debt had been on a downward trend due to the Central Bank’s continued intervention in the foreign exchange market to ensure the stability of the local currency.

Negotiate at the official NAFEX counter

• The exchange rate appreciated by 0.12% on Tuesday to close at N420.75/$1 against N421.25/$1 recorded on Friday June 10, 2022.
• The indicative opening rate closed at N419.65/$1 on Tuesday, June 14, 2022, representing a depreciation of 31 kobo from the N419.34/$1 recorded on Friday.
• Furthermore, an exchange rate of N444/$1 was the highest rate recorded in intraday trading before settling at N420.75/$1, when it sold off at such a low price. low as N410/$1 during intraday trades.
• A total of $115.08 million in exchange value was traded in the official I&E window on Tuesday, representing a 9.49% increase from the $105.11 million traded in the previous trading session. .

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The exchange rate gains slightly to N421/$1 at the I&E counter

Friday, June 10, 2022: The exchange rate between the naira and the US dollar closed at N421.25/$1 at the Investors and Exporters (I&E) counter.

The Naira recorded a marginal gain against the USD on Friday, closing at N421.25/$1 from the N422.5/$1 recorded on Thursday. However, this represents a depreciation from the N419.75/$1 recorded the previous week. On the other hand, a total of $105.11 million was traded on the official market.

The parallel market exchange rate depreciated by 0.33% to close at N608/$1, as opposed to N606/$1 recorded in the previous trading session. This is according to information from BDC operators.

On a positive note, the exchange rate in the P2P market gained 0.11% on Saturday morning, trading at a low of N604.7/$1, from the N605.35/$1 recorded during the session. previous negotiation.

Meanwhile, Nigeria’s external reserves appreciated by 0.07% on Thursday, June 9, 2022 to stand at $38.52 billion from $38.49 billion recorded the previous day. The country’s external debt had been on a downward trend due to the Central Bank’s continued intervention in the foreign exchange market to ensure the stability of the local currency.

Negotiate at the official NAFEX counter

• The exchange rate appreciated by 0.3% on Friday to close at N421.25/$1 against N422.5/$1 recorded on Thursday June 9, 2022.
• The indicative opening rate closed at N419.34/$1 on Friday, June 10, 2022, representing an appreciation of 92 kobo from the N419.34/$1 recorded on Thursday.
• Furthermore, an exchange rate of N444/$1 was the highest rate recorded in intraday trading before settling at N421.25/$1, when it sold off at such a low price. low as N413/$1 during intraday trades.
• A total of $105.11 million in exchange value was traded in the official I&E window on Friday, representing a 31.32% decline from the $153.71 million traded in the previous trading session. .

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Thursday, June 9, 2022: The exchange rate between the naira and the US dollar closed at N422.5/$1 at the Investors and Exporters (I&E) counter.

The naira recorded a massive depreciation on Thursday, falling 0.54% to close at N422.5/$1 from the N420.25/$1 recorded in the previous trading session. This is the lowest level of the exchange rate since January 4, 2022. However, the currency supply in the market increased by 86.09% to $153.71 million.

Meanwhile, the exchange rate remained stable in the parallel market, closing at N606 per dollar on Thursday, the same as for the past three trading sessions. This is according to information from BDC operators in Nigeria.

The exchange rate in the P2P market depreciated by 0.14% on Friday morning, trading at a low of N605.35/$1, from the N604.5/$1 recorded during the trading session. former.

Meanwhile, Nigeria’s external reserves appreciated by 0.01% on Wednesday, June 8, 2022 to stand at $38.49 billion from $38.46 billion recorded the previous day. The country’s external debt had been on a downward trend due to the Central Bank’s continued intervention in the foreign exchange market to ensure the stability of the local currency.

Negotiate at the official NAFEX counter

The exchange rate depreciated by 0.54% on Thursday to close at N422.5/$1 from the N420.25/$1 recorded on Wednesday despite the increased supply of currencies in the market.

• The indicative opening rate closed at N420.26/$1 on Thursday, June 9, 2022, representing a depreciation of 11 kobo from the N420.15/$1 recorded on Wednesday.
• Furthermore, an exchange rate of N444/$1 was the highest rate recorded in intraday trading before settling at N422.5/$1, when it sold off at such a low price. low as N413/$1 during intraday trades.
• A total of $153.71 million in exchange value was traded in the official I&E window on Thursday, representing an increase of 86.09% from the $82.6 million traded in the previous trading session. .

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Exchange rate gains in official market as external reserve sees rare improvement

Wednesday, June 8, 2022: The exchange rate between the naira and the US dollar closed at N420.25/$1 at the Investors and Exporters (I&E) counter.

The naira appreciated slightly at the official counter of investors and exporters by 0.12% compared to N420.75/$1 recorded on Tuesday, June 7, 2022 to close at N420.25/$1 on Wednesday. The supply of currencies in the market decreased by 26.9% to $82.6 million from $113.12 million recorded in the previous trading session.

Meanwhile, the exchange rate remained stable in the parallel market, closing at N606 per dollar on Wednesday, the same as for the past three trading sessions. This is according to information from BDC operators in Nigeria.

The exchange rate in the P2P market was flat on Thursday as it traded at a low of N604.5/$1, which is the same as seen in the previous trading session.

Meanwhile, Nigeria’s external reserves appreciated by 0.11% on Tuesday, June 7, 2022 to stand at $38.46 billion from $38.42 billion recorded the previous day. The country’s external debt had been on a downward trend due to the Central Bank’s continued intervention in the foreign exchange market to ensure the stability of the local currency.

Negotiate at the official NAFEX counter

The exchange rate appreciated by 0.12% on Wednesday to close at N420.25/$1 against N420.75/$1 recorded on Tuesday.

• The indicative opening rate closed at N420.15/$1 on Wednesday June 8, 2022, with a depreciation of 5 kobo from the N420.1/$1 recorded on Tuesday.
• Furthermore, an exchange rate of N444/$1 was the highest rate recorded in intraday trading before settling at N420.25/$1, when it sold off at such a low price. low as N413/$1 during intraday trades.
• A total of $82.6 million in exchange value was traded in the official I&E window on Wednesday, representing a 26.98% decline from the $113.12 million traded in the previous trading session. .

Crypto Market Update

• The crypto market begins trading on a positive note on Thursday, following the pullback seen in the previous trading session, after Luna/USD fell 21.17% and Uniswap posted a 2 loss, 23%.
• However, in the early hours of trading Thursday morning, the industry’s market cap had gained 0.39% to $1.222 billion, with bitcoin also rising 0.47% to trade at $30,328.73.
• Similarly, Ethereum gained 0.43% to trade at $1,798.36, Solana gained 0.52% to trade at $38.985, while Uniswap gained 1.14% to trade at $38.985. trade at $5.135. Luna/USD, on the other hand, recorded a strong rise on Thursday, gaining 43.08% to trade at $0.00007154.

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