News
Naira depreciates further at Black market
The exchange rate between the Naira and the US dollar weakened at the black market on Monday, 20th March 2023 to trade at an average of N751/$1, representing a fall of 0.13% from N750/$1 that was recorded in the previous trading session.
On the flip side, the exchange rate between the Naira and the US dollar at the cryptocurrency P2P exchange market recorded a marginal improvement of 0.07% trading at an average of N743.29/$1 on Monday morning, 20th March 2023 as against N7438/$1 it recorded on Friday.
READ ALSO: Naira scarcity to persist as CBN mops up currency in circulation
Also, Naira appreciated marginally by 0.04% against the US dollar at the official and exporters window to close at N462/$1 on Friday, 17 March 2022, from N462/$1 that was recorded on Thursday.
However, the sum of N87.81 million was transacted at the official exchange on Friday, a decrease of 10.20% from the N97.78 million that exchanged hands on Thursday.
The nation’s external reserves stood at $36.02 as of Thursday, 16th March 2023 from $36.08bn recorded on Wednesday, 15th March 2023.
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