Naira drops further against Dollar at official market

Nigerian currency has continued its poor run against the US dollar dropping again in value to N452.67 against the dollar at the Investors and Exporters window.

The figure on Tuesday, 20th December 2022 represented a decrease of 0.26 percent, compared with N451.50 it exchanged for on Monday.

FMDQ securities reports that an exchange rate of N452 to the dollar was the highest rate recorded within the day’s trading before it settled at N452.67.

More so, a total of N134.04 million was traded at the official Investors and Exporters window on Tuesday.

At the black market on Tuesday, trading at an average of N745/$1, representing a 0.13% appreciation compared to N746/$1 recorded on Monday.

Likewise, the exchange rate between the naira and the US dollar at the P2P cryptocurrency market appreciated by 0.71% to trade at a minimum of N744.48/$1 on Tuesday morning, from N749.8/$1 recorded during the previous trading session.