Naira appreciates at I&E window as overseas reserves data first achieve in two weeks

Naira appreciates at I&E window as overseas reserves data first achieve in two weeks

Thursday, 4th August 2022: The alternate price between the naira and the US greenback closed at N428.12/$1 on the Buyers and Exporters (I&E) window, the place foreign exchange is traded formally.

Naira closed increased on Thursday, with a 0.25% appreciation towards the US greenback to shut at N428.12/$1 in comparison with N429.2/$1 recorded within the earlier buying and selling session. A complete of $110.22 million was traded on Thursday, representing a 100.955% lower when in comparison with the $123.78 million traded on Wednesday.

Then again, on the peer-to-peer market, naira fell to N651/$1 on Friday morning from N616.66/$1 recorded as of the identical time on Thursday, representing a 5.6% decline in comparison with the day before today.

Nigeria’s exterior reserves rose for the primary time in over two weeks, gaining marginally by 0.01% to face at $39.07 billion from $39.07 billion recorded in the day before today. The reserve degree had depreciated for eleven consecutive days, largely as a result of fixed intervention by the apex financial institution within the I&E window.

Buying and selling on the official NAFEX window

The alternate price on the official market appreciated on Thursday, 4th August 2022 by 0.25% to shut at N428.12 to a greenback as towards the N430.67/$1 recorded on Wednesday, third August 2022.

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  • The opening indicative price closed at N428.33/$1 on Thursday, 4th August 2022 from N427.9/$1 recorded within the earlier buying and selling session.
  • Moreover, an alternate price of N444/$1 was the best price recorded throughout intra-day buying and selling earlier than it settled at N428.12/$1, whereas it traded as little as N415/$1 throughout intra-day buying and selling.
  • A complete of $110.22 million in FX worth exchanged palms on Thursday, which is 10.95% decrease than the $123.78 million that was traded within the earlier buying and selling session.

Alternate price appreciates to N616/$1 at peer-to-peer FX market

Wednesday, third August 2022: The alternate price between the naira and the US greenback closed at N429.2/$1 on the Buyers and Exporters (I&E) window, the place foreign exchange is traded formally.

Naira closed on a optimistic be aware on Wednesday, with a 0.34% appreciation towards the US greenback to shut at N429.2/$1 in comparison with N430.67/$1 recorded within the earlier buying and selling session. A complete of $123.78 million was traded out there on Wednesday, representing a 21.9% enhance when in comparison with the $158.68 million traded on Tuesday.

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In the identical vein, the alternate price on the black market appreciated on Wednesday to shut at N665/$1 in comparison with N670/$1 recorded on Tuesday, representing a 0.75% foreign money appreciation towards the US greenback.

Equally, on the peer-to-peer market, naira rose to N616.66/$1 on Thursday morning from N652.5/$1 recorded on Wednesday, representing a rally of 5.5% in comparison with the day before today. That is following a stunning depreciation recorded within the earlier week, when the naira fell to a file N705/$1 on account of FX shortage and panic shopping for.

In the meantime, Nigeria’s exterior reserves recorded its eleventh consecutive decline on Tuesday, dropping by 0.1% to face at $39.07 billion from $39.1 billion recorded as of Monday, 1st August 2022. The decline within the nation’s exterior reserve might be attributed to the elevated move of FX within the official market prior to now two days.

Buying and selling on the official NAFEX window

The alternate price on the official market appreciated on Wednesday, third August 2022 by 0.34% to shut at N429.2 to a greenback as towards the N430.67/$1 recorded on Tuesday, 2nd August 2022.

  • The opening indicative price closed at N427.9/$1 on Wednesday, third August 2022 from N427.75/$1 recorded within the earlier buying and selling session.
  • Moreover, an alternate price of N444/$1 was the best price recorded throughout intra-day buying and selling earlier than it settled at N429.2/$1, whereas it traded as little as N414/$1 throughout intra-day buying and selling.
  • A complete of $123.78 million in FX worth exchanged palms on Wednesday, which is 21.9% decrease than the $158.68 million that was traded within the earlier buying and selling session.

Naira falls at I&E window regardless of a 163% surge in foreign exchange provide

Tuesday, 2nd August 2022: The alternate price between the naira and the US greenback closed at N430.67/$1 on the official Buyers and Exporters (I&E) window.

Naira closed on a bearish be aware on Tuesday, falling by 0.42% to shut at N430.67/$1 from N428.88/$1 recorded within the earlier buying and selling session. That is regardless of the 163.3% enhance in foreign exchange turnover to $158.68 million.

Then again, the alternate price on the black market recorded a big appreciation on Tuesday, closing at N670/$1 in comparison with N718/$1 recorded on Monday, representing a 6.69% foreign money appreciation towards the US greenback.

Equally, on the peer-to-peer market, naira rose to N652.5/$1 on Wednesday morning from N669/$1 recorded on Tuesday. That is following a stunning depreciation recorded within the earlier week, when the naira fell to a file N705/$1 on account of FX shortage and panic shopping for.

In the meantime, Nigeria’s exterior reserves recorded its tenth consecutive decline on Monday, dropping by 0.23% to face at $39.1 billion from $39.18 billion recorded as of Friday, twenty ninth July 2022. The decline within the nation’s exterior reserve might be attributed to the elevated move of FX within the official market prior to now two days.

Buying and selling on the official NAFEX window

The alternate price on the official market depreciated on Tuesday, 2nd August 2022 by 0.42% to shut at N430.67 to a greenback as towards the N428.88/$1 recorded on Monday, 1st August 2022.

  • The opening indicative price closed at N427.75/$1 on Tuesday, 2nd August 2022 from N428.633/$1 recorded within the earlier buying and selling session.
  • Moreover, an alternate price of N444/$1 was the best price recorded throughout intra-day buying and selling earlier than it settled at N430.67/$1, whereas it traded as little as N415/$1 throughout intra-day buying and selling.
  • A complete of $158.68 million in FX worth exchanged palms on Tuesday, which is 163.28% increased than the $60.27 million that was traded within the earlier buying and selling session.

Official alternate price falls to file low at N431/$1

Tuesday, twenty sixth July 2022: The alternate price between the naira and the US greenback closed at N431/$1 on the official Buyers and Exporters (I&E) window.

Naira closed on a bearish be aware on Tuesday, falling by 0.9% to shut at N431/$1 from N427.17/$1 recorded in the beginning of the week, the bottom price recorded on the official market year-to-date. In the identical vein, foreign exchange turnover declined by 35.37% to $58.03 million in comparison with $89.79 million that exchanged palms within the earlier buying and selling session.

Additionally, with additional shortage of foreign exchange out there, the alternate price on the peer-to-peer market depreciated considerably to a file low of N685.5/$1 within the early hours of Wednesday, representing a 2.77% decline in comparison with N667/$1 recorded on Tuesday morning. That is the best price recorded within the unofficial market, based on knowledge tracked by Nairalytics.

In the meantime, Nigeria’s exterior reserves recorded its fifth consecutive decline on Monday, dropping by 0.21% to face at $39.31 billion from $39.39 billion recorded as of Friday, twenty second July 2022. The decline within the nation’s exterior reserve might be attributed to the elevated move of FX within the official market prior to now two days.

Buying and selling on the official NAFEX window

  • The alternate price on the official market depreciated on Tuesday, twenty sixth July 2022 by 0.9% to shut at N431 to a greenback as towards the N427.17/$1 recorded on Monday, twenty fifth July 2022.
  • The opening indicative price closed at N427.3/$1 on Tuesday, twenty sixth July 2022 from N427.63/$1 recorded within the earlier buying and selling session.
  • Moreover, an alternate price of N444/$1 was the best price recorded throughout intra-day buying and selling earlier than it settled at N431/$1, whereas it traded as little as N414/$1 throughout intra-day buying and selling.
  • A complete of $58.03 million in FX worth exchanged palms on Tuesday, which is 35.37% decrease than the $89.79 million that was traded within the earlier buying and selling session.

Official alternate price appreciates as foreign exchange provide surges by 146%

Monday, twenty fifth July 2022: The alternate price between the naira and the US greenback closed at N427.17/$1 on the Buyers and Exporters (I&E) window, the place foreign exchange is traded formally. 

Naira began the week with a 0.66% appreciation towards the US greenback on the official market to shut at N427.17/$1 in comparison with N430/$1 recorded within the earlier buying and selling session. The upward motion within the native foreign money is following the 146.2% enhance within the quantity of foreign exchange traded on the ground of the alternate. 

Additionally, with the additional shortage of foreign exchange out there, the alternate price on the peer-to-peer market depreciated considerably to a file low of N667/$1 within the early hours of Tuesday, representing a 1.72% decline in comparison with N655.73/$1 recorded on Monday morning. That is the best price recorded within the unofficial market, based on knowledge tracked by Nairalytics. 

In the meantime, Nigeria’s exterior reserves recorded its fourth consecutive decline on Friday, dropping by 0.05% to face at $39.39 billion from $39.41 billion recorded as of Thursday, twenty first July 2022. The decline within the nation’s exterior reserve might be attributed to the elevated move of FX within the official market prior to now two days. 

The CBN had defined over the past MPC session that Nigeria’s exterior reserve grew within the month of June 2022 on account of elevated non-oil export and enchancment in diaspora remittances by way of its RT200 and Naira4dollar programmes respectively. 

Buying and selling on the official NAFEX window 

The alternate price on the official market appreciated on Monday, twenty fifth July 2022 by 0.66% to shut at N427.17 to a greenback as towards the N430/$1 recorded on Friday, twenty second July 2022. 

  • The opening indicative price closed at N427.63/$1 on Monday, twenty fifth from N427/$1 recorded within the earlier buying and selling session. 
  • Moreover, an alternate price of N444/$1 was the best price recorded throughout intra-day buying and selling earlier than it settled at N427.17/$1, whereas it traded as little as N414/$1 throughout intra-day buying and selling. 
  • A complete of $89.79 million in FX worth exchanged palms on Monday, which is 146.2% increased than the $36.47 million that was traded within the earlier buying and selling session. 

Alternate price skyrockets to N644/$1 at peer-to-peer market as foreign exchange shortage lingers

Wednesday, twentieth July 2022: The alternate price between the naira and the US greenback closed at N426.58/$1 on the Buyers and Exporters (I&E) window, the place foreign exchange is traded formally. 

Naira retracted on Wednesday, depreciating by 0.57% to shut at N426.58/$, from N424.17/$1 recorded within the earlier commerce session. In the identical vein, foreign exchange provide fell by 62.45% to $144.03 million from the file of #383.59 million that was traded on Tuesday. 

Additionally, with the additional shortage of foreign exchange out there, the alternate price on the peer-to-peer market depreciated considerably to a file low of N644.25/$1 within the early hours of Thursday, representing a 1.44% decline in comparison with N635.1/$1 recorded on Wednesday morning. That is the best price recorded within the unofficial market, based on knowledge tracked by Nairalytics. 

Then again, the alternate price on the parallel market appreciated barely by 0.16% to shut buying and selling actions on Wednesday at N629/$1 in comparison with N630/$1 recorded within the earlier buying and selling session. That is based on info from Bureau De Change operators. 

Nigeria’s exterior reserves recorded its first decline in over one month on Tuesday, nineteenth July 2022, falling by 0.02% to face at $39.43 billion in comparison with $39.44 billion recorded as of the day before today. The decline within the nation’s exterior reserve might be attributed to the elevated move of FX within the official market prior to now two days. 

The CBN had defined over the past MPC session that Nigeria’s exterior reserve grew within the month of June 2022 on account of elevated non-oil export and enchancment in diaspora remittances by way of its RT200 and Naira4dollar programmes respectively. 

Buying and selling on the official NAFEX window 

The alternate price on the official market depreciated on Wednesday, twentieth July 2022, declining by 0.57% to shut at N426.58 to a greenback as towards the N424.17/$1 recorded on Tuesday, nineteenth July 2022. 

  • The opening indicative price closed at N426.5/$1 on Wednesday, twentieth from N426.2/$1 recorded within the earlier buying and selling session. 
  • Moreover, an alternate price of N444/$1 was the best price recorded throughout intra-day buying and selling earlier than it settled at N426.58/$1, whereas it traded as little as N414/$1 throughout intra-day buying and selling. 
  • A complete of $144.03 million in FX worth exchanged palms on Wednesday, which is 62.45% decrease than the $383.59 million that was traded within the earlier buying and selling session. 

Official alternate price appreciates as Foreign exchange provide surges by 301% to $389 million

Tuesday, nineteenth July 2022: The alternate price between the naira and the US greenback closed at N424.17/$1 on the official Buyers and Exporters (I&E) window. 

Naira appreciated considerably towards the US greenback on the official market on Tuesday, with a 1.16% achieve to shut at N424.17/$1, in comparison with N429.13/$ recorded as of the shut of buying and selling actions within the earlier buying and selling session.  

The appreciation of the native foreign money is following the 301.3% enhance within the quantity of foreign exchange provided within the official market. A complete of $383.59 million in FX worth was traded on Tuesday, nineteenth July 2022, a rise in comparison with $95.58 million that exchanged palms on Monday. 

Then again, the alternate price on the parallel market fell by 1.69% to shut buying and selling actions on Monday at N630/$1 in comparison with N619.5/$1 recorded within the earlier buying and selling session. That is based on info from Bureau De Change operators. 

Additionally, the alternate price on the peer-to-peer market depreciated additional by 0.78% on Wednesday morning to commerce at a minimal of N635.1/$1 in comparison with N630.2/$1 recorded on Tuesday morning. That is the best price recorded on the unofficial market, based on knowledge tracked by Nairalytics. 

Nigeria’s exterior reserves elevated by 0.01% on Monday, 18th July 2022 to face at $39.45 billion from $39.43 billion recorded as of the day before today. This represents the twenty seventh straight day of enchancment for the nation’s overseas reserve. 

The exterior reserve had been on a downward pattern as a result of steady intervention by the Central Financial institution within the FX market in an effort to guarantee the soundness of the native foreign money. Nonetheless, elevated crude oil costs have seen the reserve degree enhance. 

Buying and selling on the official NAFEX window 

The alternate price on the official market appreciated on Tuesday, nineteenth July 2022, gaining 1.16% to shut at N424.17 to a greenback as towards the N429.13/$1 recorded on Monday, 18th July 2022. 

  • The opening indicative price closed at N426.2/$1 on Tuesday, nineteenth, from N428.26/$1 recorded within the earlier buying and selling session. 
  • Moreover, an alternate price of N444/$1 was the best price recorded throughout intra-day buying and selling earlier than it settled at N424.17/$1, whereas it traded as little as N414/$1 throughout intra-day buying and selling. 
  • A complete of $383.59 million in FX worth exchanged palms on Tuesday, which is 301.33% increased than the $63.19 million that was traded within the earlier buying and selling session. 

 


Naira falls to N630/$1 on the black market

Monday, 18th July 2022: The alternate price between the naira and the US greenback closed at N429.13/$1 on the official Buyers and Exporters (I&E) window.

Naira appreciated barely towards the US greenback on the official market on Monday, with a 0.28% appreciation to shut at N429.13/$1, in comparison with N430.33/$ recorded as of the shut of buying and selling actions within the earlier buying and selling session.

The appreciation of the native foreign money is following the 51.26% enhance within the quantity of foreign exchange provided within the official market. A complete of $95.58 million in FX was traded on Monday, 18th July 2022, a rise in comparison with $63.19 million that exchanged palms on Friday, final week.

Then again, the alternate price on the parallel market fell by 1.69% to shut buying and selling actions on Monday at N630/$1 in comparison with N619.5/$1 recorded within the earlier buying and selling session. That is based on info from Bureau De Change operators.

Additionally, the alternate price on the peer-to-peer market depreciated by 1.69% on Tuesday morning to commerce at a minimal of N630.2/$1 in comparison with N623.1/$1 recorded on Monday morning. That is the best price recorded on the unofficial market, based on knowledge tracked by Nairalytics.

Nigeria’s exterior reserves elevated by 0.03% on Friday, fifteenth July 2022 to face at $39.44 billion from $39.43 billion recorded as of the day before today. This represents the twenty sixth straight day of enchancment for the nation’s overseas reserve.

The exterior reserve had been on a downward pattern as a result of steady intervention by the Central Financial institution within the FX market in an effort to guarantee the soundness of the native foreign money. Nonetheless, elevated crude oil costs have seen the reserve degree enhance.

Buying and selling on the official NAFEX window

  • The alternate price on the official market appreciated on Monday, 18th July 2022, gaining 0.28% to shut at N429.13 to a greenback as towards the N430.33/$1 recorded on Friday, fifteenth July 2022.
  • The opening indicative price closed at N428.26/$1 on Monday, 18th July 2022, from N426.63/$1 recorded within the earlier buying and selling session.
  • Moreover, an alternate price of N444/$1 was the best price recorded throughout intra-day buying and selling earlier than it settled at N429.13/$1, whereas it traded as little as N414/$1 throughout intra-day buying and selling.
  • A complete of $95.58 million in FX worth exchanged palms on Monday, which is 51.26% increased than the $63.19 million that was traded within the earlier buying and selling session.

Naira falls huge to N430/$1 at official window as liquidity stays low

Friday, fifteenth July 2022: The alternate price between the naira and the US greenback closed at N430.33/$1 on the official Buyers and Exporters (I&E) window.

Naira depreciated massively towards the US greenback on the official market on Friday, with a 1.34% decline to shut at N430.33/$1, in comparison with N424.62/$ recorded as of the shut of buying and selling actions within the earlier buying and selling session. That is the bottom degree on file, except thirty first December 2021.

The depreciation of the native foreign money is following the sustained low foreign exchange turnover out there. A complete of $63.19 million in FX was traded on Friday, fifteenth July 2022, representing a lower of 28.15% in comparison with $87.95 million that exchanged palms on Thursday.

Additionally, the alternate price on the peer-to-peer market depreciated by 0.14% on Saturday morning to commerce at a minimal of N623.1/$1 in comparison with N622.25/$1 recorded on Friday morning. That is the best price recorded on the unofficial market, based on knowledge tracked by Nairalytics.

Then again, the alternate price on the parallel market remained flat on Friday, closing at N618/$, the identical as recorded within the earlier buying and selling session. That is based on info from Bureau De Change operators.

Nigeria’s exterior reserves elevated by 0.02% on Thursday, 14th July 2022 to face at $39.43 billion from $39.42 billion recorded as of the day before today. This represents the twenty fifth straight day of enchancment for the nation’s overseas reserve.

The exterior reserve had been on a downward pattern as a result of steady intervention by the Central Financial institution within the FX market in an effort to guarantee the soundness of the native foreign money. Nonetheless, elevated crude oil costs have seen the reserve degree enhance.

Buying and selling on the official NAFEX window

  • The alternate price on the official market depreciated on Friday, fifteenth July 2022, dropping by 1.34% to shut at N430.33 to a greenback as towards the N424.62/$1 recorded on Thursday, 14th July 2022.
  • The opening indicative price closed at N426.63/$1 on Friday, fifteenth July 2022, from N424.3/$1 recorded within the earlier buying and selling session.
  • Moreover, an alternate price of N444/$1 was the best price recorded throughout intra-day buying and selling earlier than it settled at N430.33/$1, whereas it traded as little as N414/$1 throughout intra-day buying and selling.
  • A complete of $63.19 million in FX worth exchanged palms on Friday, which is 28.15% decrease than the $87.95 million that was traded within the earlier buying and selling session.

Alternate price depreciates at I&E window regardless of enchancment in FX provide

Thursday, 14th July 2022: The alternate price between the naira and the US greenback closed at N424.62/$1 on the official Buyers and Exporters (I&E) window.

Naira depreciated marginally towards the US greenback on the official market on Thursday, with a 0.01% decline to shut at N424.62/$1, regardless of a 44.56% enhance in foreign exchange turnover. Particularly, a complete of $87.95 million in FX worth exchanged palms out there on Thursday in comparison with $60.84 million that was traded within the earlier buying and selling session.

Additionally, the alternate price on the peer-to-peer market depreciated by 0.29% on Friday morning to commerce at a minimal of N622.25/$1 in comparison with N620.41/$1 recorded on Thursday morning. That is the best price recorded on the unofficial market, based on knowledge tracked by Nairalytics.

Then again, the alternate price on the parallel market remained flat on Thursday, closing at N618/$, the identical as recorded within the earlier buying and selling session. That is based on info from Bureau De Change operators.

Nigeria’s exterior reserves elevated by 0.17% on Wednesday, thirteenth July 2022 to face at $39.42 billion from $39.35 billion recorded the day before today. This represents the twenty fourth straight day of enchancment for the nation’s overseas reserve.

The exterior reserve had been on a downward pattern as a result of steady intervention by the Central Financial institution within the FX market in an effort to guarantee the soundness of the native foreign money. Nonetheless, elevated crude oil costs have seen the reserve degree enhance.

Buying and selling on the official NAFEX window

  • The alternate price on the official market depreciated barely on Thursday, 14th July 2022, dropping by 0.01% to shut at N424.62 to a greenback as towards the N426.58/$1 recorded on Wednesday, thirteenth July 2022.
  • The opening indicative price closed at N424.3/$1 on Thursday, 14th July 2022, from N424.4/$1 recorded within the earlier buying and selling session.
  • Moreover, an alternate price of N444/$1 was the best price recorded throughout intra-day buying and selling earlier than it settled at N424.62/$1, whereas it traded as little as N414/$1 throughout intra-day buying and selling.
  • A complete of $87.95 million in FX worth exchanged palms on Thursday, which is 44.56% increased than the $60.84 million that was traded within the earlier buying and selling session.

Naira falls to N620/$1 at peer-to-peer market as FX shortage persists

Tuesday, thirteenth July 2022: The alternate price between the naira and the US greenback closed at N424.58/$1 on the Buyers and Exporters (I&E) window, the place foreign exchange is traded formally.

Naira appreciated barely towards the US greenback on the official market on Wednesday, with a 0.36% achieve to shut at N424.58/$1, following a 25.01% enhance in foreign exchange turnover. Particularly, a complete of $60.84 million in FX worth exchanged palms out there on Wednesday in comparison with $48.67 million that was traded within the earlier buying and selling session.

Then again, the alternate price on the parallel market depreciated to N618/$1 on Wednesday, falling by 0.49% in comparison with N615/$1 recorded on Friday, the earlier week. That is based on info from Bureau De Change operators.

Additionally, the alternate price on the peer-to-peer market depreciated by 0.72% on Thursday morning to commerce at a minimal of N620.41/$1 in comparison with N616/$1 recorded on Wednesday morning. That is the best price recorded on the unofficial market, based on knowledge tracked by Nairalytics.

Nigeria’s exterior reserves elevated by 0.03% on Friday, eighth July 2022 to face at $39.35 billion from $39.34 billion recorded the day before today. This represents the twenty third straight day of enchancment for the nation’s overseas reserve.

The exterior reserve had been on a downward pattern as a result of steady intervention by the Central Financial institution within the FX market in an effort to guarantee the soundness of the native foreign money. Nonetheless, elevated crude oil costs have seen the reserve degree enhance.

Buying and selling on the official NAFEX window

  • The alternate price on the official market appreciated on Wednesday, thirteenth July 2022, gaining 0.36% to shut at N424.58 to a greenback as towards the N426.13/$1 recorded on Friday, eighth July 2022.
  • The opening indicative price closed at N424.4/$1 on Wednesday, thirteenth July 2022, from N423.85/$1 recorded within the earlier buying and selling session.
  • Moreover, an alternate price of N444/$1 was the best price recorded throughout intra-day buying and selling earlier than it settled at N424.58/$1, whereas it traded as little as N411.42/$1 throughout intra-day buying and selling.
  • A complete of $60.84 million in FX worth exchanged palms on Wednesday, which is 25.01% increased than the $46.67 million that was traded within the earlier buying and selling session.

Naira falls at I&E window regardless of large enchancment in greenback provide

Thursday, seventh July 2022: The alternate price between the naira and the US greenback closed at N428.16/$1 on the Buyers and Exporters (I&E) window, the place foreign exchange is traded formally.

Naira depreciated towards the US greenback on the official market on Thursday, with a 0.1% decline to shut at N428.16/$1 regardless of a 172.95% surge within the quantity of foreign exchange that was traded out there. Particularly, foreign exchange turnover improved to $222.84 million, the best recorded since 2nd June 2022.

Nonetheless, the alternate price on the parallel market remained flat at N616/$1, the identical as recorded within the earlier buying and selling session. That is based on info from Bureau De Change operators.

Additionally, the alternate price on the peer-to-peer market depreciated marginally by 0.03% on Friday morning to commerce at a minimal of N618.2/$1 in comparison with N618/$1 recorded on Thursday morning.

Nigeria’s exterior reserves elevated by 0.17% on Wednesday, sixth July 2022 to face at $39.34 billion from $39.27 billion recorded the day before today. This represents the twenty first straight day of enchancment for the nation’s overseas reserve.

The exterior reserve had been on a downward pattern as a result of steady intervention by the Central Financial institution within the FX market in an effort to guarantee the soundness of the native foreign money. Nonetheless, elevated crude oil costs have seen the reserve degree enhance.

Buying and selling on the official NAFEX window

The alternate price on the official market depreciated on Thursday, seventh July 2022, falling by 0.1% to shut at N428.16 to a greenback as towards the N427.75/$1 recorded on Wednesday, sixth July 2022.

  • The opening indicative price closed at N426.31/$1 on Thursday, seventh July 2022, from N423.85/$1 recorded within the earlier buying and selling session.
  • Moreover, an alternate price of N444/$1 was the best price recorded throughout intra-day buying and selling earlier than it settled at N428.16/$1, whereas it traded as little as N413.5/$1 throughout intra-day buying and selling.
  • A complete of $222.84 million in FX worth exchanged palms on Thursday, which is 222.84% increased than the $81.64 million that was traded within the earlier buying and selling session.

Naira falls to N431/$1 on the official foreign exchange market

Wednesday, sixth July 2022: The alternate price between the naira and the US greenback closed at N427.75/$1 on the Buyers and Exporters (I&E) window, reaching a peak of N431/$1.

Naira recorded a 0.52% appreciation towards the US greenback on Wednesday to shut at N427.75/$1 after hitting a year-to-date excessive on Tuesday, fifth July 2022 at N430/$1. Equally, a complete of $81.64 million alternate palms within the official market on Wednesday, based on info obtained from FMDQ web site.

The alternate price on the parallel market depreciated on Wednesday, closing at N616/$1 in comparison with N613/$1 recorded on Tuesday, fifth July 2022. Bureau De Change operators who spoke to Nairametrics attributed the downturn to foreign exchange shortage and elevated demand.

Equally, the alternate price on the peer-to-peer market depreciated marginally by 0.16% on Thursday morning to commerce at a minimal of N618/$1 in comparison with N617/$1 recorded on Wednesday morning.

Nigeria’s exterior reserves elevated by 0.04% on Tuesday, fifth July 2022 to face at $39.27 billion from $39.25 billion recorded the day before today. This represents the twentieth straight day of enchancment for the nation’s overseas reserve.

The exterior reserve had been on a downward pattern as a result of steady intervention by the Central Financial institution within the FX market in an effort to guarantee the soundness of the native foreign money. Nonetheless, elevated crude oil costs have seen the reserve degree enhance.

Buying and selling on the official NAFEX window

  • The alternate price on the official market moderated on Wednesday, appreciating by 0.52% to shut at N427.75 to a greenback as towards the N430/$1 recorded on Tuesday, fifth July 2022.
  • The opening indicative price closed at N423.85/$1 on Wednesday, sixth July 2022, from N422.71/$1 recorded within the earlier buying and selling session.
  • Moreover, an alternate price of N431/$1 was the best price recorded throughout intra-day buying and selling earlier than it settled at N427.75/$1, whereas it traded as little as N413/$1 throughout intra-day buying and selling.
  • A complete of $81.64million in FX worth was traded within the official I&E window on Wednesday.

Naira falls throughout FX markets as greenback provide dips considerably

Monday, 4th July 2022: The alternate price between the naira and the US greenback closed at N425.75/$1 on the Buyers and Exporters (I&E) window, representing the bottom degree recorded year-to-date.

Naira depreciated additional towards the US greenback on Monday, beginning the week with a 0.18% depreciation to shut at N425.75/$1 in comparison with N425/$1 recorded within the earlier buying and selling classes. In the identical vein, the overall foreign exchange provide declined by 39.69% to $47.56 million, the bottom in two seeks.

The alternate price on the parallel market depreciated marginally on Monday, closing at N613/$1 in comparison with N612/$1 recorded as of Friday, 1st July 2022. Bureau De Change operators who spoke to Nairametrics attributed the downturn to foreign exchange shortage and elevated demand.

Equally, the alternate price on the peer-to-peer market depreciated marginally by 0.09% on Tuesday morning to commerce at a minimal of N616.49/$1 in comparison with N615.9/$1 recorded on Monday morning.

Nigeria’s exterior reserves elevated by 0.05% on Friday, 1st July 2022 to face at $39.17 billion from $39.16 billion recorded the day before today. This represents the 18th straight day of enchancment for the nation’s overseas reserve.

The exterior reserve had been on a downward pattern as a result of steady intervention by the Central Financial institution within the FX market in an effort to guarantee the soundness of the native foreign money. Nonetheless, elevated crude oil costs have seen the reserve degree enhance.

Buying and selling on the official NAFEX window

The alternate price on the official market fell additional on Monday, depreciating by 0.18% to shut at N425.75 to a greenback as towards the N425/$1 recorded on Friday, 1st July 2022.

  • The opening indicative price closed at N422.25/$1 on Monday, 4th July 2022, from N421.6/$1 recorded within the earlier buying and selling session.
  • Moreover, an alternate price of N444/$1 was the best price recorded throughout intra-day buying and selling earlier than it settled at N425.75/$1, whereas it traded as little as N413/$1 throughout intra-day buying and selling.
  • A complete of $47.56 million in FX worth was traded within the official I&E window on Monday, which is 39.69% decrease than the $78.86 million that exchanged palms within the earlier buying and selling session.

Naira closes week weaker as black market price hits N615/$

The alternate price between the naira and the US greenback closed the week weaker on the official Investor and Exporter window, closing at N425/$1 on Friday, 1st July 2022 in comparison with N420.13/$1 recorded within the earlier week.

That is based on Nairalytics alternate tracker culled from the web site of FMDQ. Naira depreciated by 1.2% week-on-week towards the US greenback. In the meantime, the overall quantity of FX traded out there elevated marginally by 6.27% to $627.94 million within the overview week in comparison with $590.91 million that exchanged palms within the earlier week.

Then again, naira closed the week at N612/$1 on the parallel market from N610/$ recorded on the shut of the earlier week, hitting a file N615/$1 through the week. Additionally, the alternate price closed at N615/$1 on the peer-to-peer market from N612.59/$ recorded final week.

Buying and selling on the official NAFEX window

  • The alternate price on the official market fell additional within the overview week, depreciating by 1.2% to shut at N425 to a greenback as towards the N420.13/$1 recorded on Friday, twenty fourth June 2022.
  • The opening indicative price closed at N421.6/$1 on Friday, 1st July 2022, from N419.79/$1 recorded the earlier Friday.
  • Moreover, an alternate price of N444/$1 was the best price recorded through the week buying and selling earlier than it settled at N425/$1, whereas it traded as little as N410/$1 throughout intra-day buying and selling.
  • A complete of $627.94 million in FX worth was traded within the official I&E window through the week, which is 6.27% increased than the $590.91 million that exchanged palms within the earlier week.
  • Nigeria’s foreign money has been confronted with immense stress from decline in export earnings and surging FX demand within the nation, resulting in tightened foreign exchange liquidity. A cursory examine reveals that the alternate price has depreciated to its highest degree year-to-date on the official market regardless of fixed CBN interventions.
  • On the flip aspect, the native foreign money has declined by 8.3% year-to-date on the black market, beginning the yr at N565/$1, now buying and selling at N612/$.

Naira falls additional on the official market as foreign exchange turnover declines

Thursday, thirtieth June 2022: The alternate price between the naira and the US greenback closed at N425.05/$1 on the Buyers and Exporters (I&E) window, representing the bottom degree recorded year-to-date.

Naira depreciated additional towards the US greenback on Thursday, falling by 0.04% to shut at N425.05/$1 in comparison with N424.88/$1 recorded within the earlier buying and selling classes. In the identical vein, the overall foreign exchange provide declined by 32.1% to $76.64 million from $112.83 million that exchanged palms within the earlier buying and selling session.

The alternate price on the parallel market remained flat on Thursday to shut at N615/$1, the identical as recorded within the earlier buying and selling session. That is based on info from BDC operators. That is the bottom degree that the native foreign money has fallen, as BDC operators attributed the downturn to foreign exchange shortage and elevated demand.

Equally, the alternate price on the peer-to-peer market appreciated marginally by 0.19% on Friday morning to commerce at N615/$1 in comparison with N616.15/$1 recorded on Thursday morning.

Nigeria’s exterior reserves elevated by 0.1% on Wednesday, twenty ninth June 2022 to face at $39.13 billion from $39.09 billion recorded the day before today. This represents the sixteenth straight day of enchancment for the nation’s overseas reserve.

The exterior reserve had been on a downward pattern as a result of steady intervention by the Central Financial institution within the FX market in an effort to guarantee the soundness of the native foreign money. Nonetheless, elevated crude oil costs have seen the reserve degree enhance.

Buying and selling on the official NAFEX window

  • The alternate price on the official market fell additional on Thursday, depreciating by 0.04% to shut at N425.05 to a greenback as towards the N424.88/$1 recorded on Wednesday, twenty ninth June 2022.
  • The opening indicative price closed at N420.96/$1 on Thursday, thirtieth June 2022, from N421.8/$1 recorded on Wednesday.
  • Moreover, an alternate price of N444/$1 was the best price recorded throughout intra-day buying and selling earlier than it settled at N425.05/$1, whereas it traded as little as N413/$1 throughout intra-day buying and selling.
  • A complete of $76.64 million in FX worth was traded within the official I&E window on Thursday, which is 32.07% decrease than the $112.83 million that exchanged palms within the earlier buying and selling session.

Official alternate price (NAFEX) falls to lowest degree year-to-date

Wednesday, twenty ninth June 2022: The alternate price between the naira and the US greenback closed at N424.88/$1 on the Buyers and Exporters (I&E) window.

Naira depreciated towards the US greenback on Wednesday, falling by 0.8% to shut at N424.88/$1 in comparison with N421.5/$1 recorded within the earlier buying and selling classes. This represents the bottom degree reached by the native foreign money between January up to now as FX shortages linger.

A complete of $112.83 million in FX worth was traded on Wednesday as towards the $206.65 million that was traded on Tuesday, twenty eighth June 2022, representing a forty five.4% lower. That is based on info from the web site the FMDQ Alternate.

The alternate price on the parallel market remained flat on Wednesday to shut at N615/$1 on Wednesday, the identical as recorded within the earlier buying and selling session. That is based on info from BDC operators. That is the bottom degree that the native foreign money has fallen, as BDC operators attributed it to foreign exchange shortage and elevated demand.

Equally, the alternate price on the peer-to-peer market appreciated marginally by 0.19% on Thursday morning to commerce at N616.15/$1 in comparison with N617.29/$1 recorded on Wednesday morning.

Nigeria’s exterior reserves elevated by 0.1% on Tuesday, twenty eighth June 2022 to face at $39.09 billion from $39.06 billion recorded the day before today. This represents the fifteenth straight day of enchancment for the nation’s overseas reserve.

The exterior reserve had been on a downward pattern as a result of steady intervention by the Central Financial institution within the FX market in an effort to guarantee the soundness of the native foreign money. Nonetheless, elevated crude oil costs have seen the reserve degree enhance.

Buying and selling on the official NAFEX window

  • The alternate price on the official market fell huge on Wednesday, depreciating by 0.8% to shut at N424.88 to a greenback as towards the N421.5/$1 recorded on Tuesday, twenty eighth June 2022.
  • The opening indicative price closed at N421.8/$1 on Wednesday, twenty ninth June 2022, from N420.7/$1 recorded on Tuesday.
  • Moreover, an alternate price of N444/$1 was the best price recorded throughout intra-day buying and selling earlier than it settled at N424.88/$1, whereas it traded as little as N410/$1 throughout intra-day buying and selling.
  • A complete of $112.83 million in FX worth was traded within the official I&E window on Wednesday, which is 45.4% decrease than the $206.65 million that exchanged palms within the earlier buying and selling session.

Alternate price appreciates at I&E window as foreign exchange provide rises to 3-week excessive 

Thursday, twenty third June 2022: The alternate price between the naira and the US greenback closed at N420/$1 on the Buyers and Exporters (I&E) window. 

Naira gained towards the US greenback on Thursday, reaching its highest degree within the week to shut at N420.17/$1, representing a 0.08% appreciation in comparison with N420.5/$1 recorded within the earlier buying and selling session. That is based on info from the web site the FMDQ Alternate. 

A complete of $201.81 million in FX worth was traded on Thursday as towards the $71.99 million that was traded in the day before today, representing a 180.33% enhance. 

The alternate price on the parallel market depreciated by 0.66% to shut at N611/$1 on Thursday morning, from N607/$1 recorded as of the earlier buying and selling session. That is based on info from BDC operators. 

In the meantime, the alternate price on the peer-to-peer market remained steady, buying and selling at N612.59 to a greenback on Friday morning, representing a 0.04% depreciation in comparison with N612.85/$1 recorded as of the identical time on Thursday. 

Nigeria’s exterior reserves elevated by 0.08% on Wednesday, twenty second June 2022 to face at $38.85 billion from $38.82 billion recorded the day before today. This represents the eleventh straight day of enchancment for the nation’s overseas reserve. 

 The exterior reserve had been on a downward pattern as a result of steady intervention by the Central Financial institution within the FX market in an effort to guarantee the soundness of the native foreign money. Nonetheless, elevated crude oil costs have seen the reserve degree enhance. 

Buying and selling on the official NAFEX window 

The alternate price on the official market recorded a slight achieve on Thursday, appreciated by 0.08% to shut at N420.17 to a greenback as towards the N420.5/$1 recorded on Wednesday, twenty third June 2022. 

  • The opening indicative price closed at N419.79/$1 on Thursday, twenty third June 2022, from N419.46/$1 recorded on Wednesday. 
  • Moreover, an alternate price of N444/$1 was the best price recorded throughout intra-day buying and selling earlier than it settled at N420.17/$1, whereas it traded as little as N410/$1 throughout intra-day buying and selling. 
  • A complete of $201.81 million in FX worth was traded within the official I&E window on Thursday, which is 180.33% increased than the $71.99 million that exchanged palms within the earlier buying and selling session. 

Naira falls to N611/$1 on the black market as FX liquidity tightens

The alternate price between the naira and the US greenback closed at N420.5/$1 on the Buyers and Exporters (I&E) window.

Naira closed barely weaker on Wednesday with a 0.05% depreciation to shut at N420.5/$1 in comparison with N420.28/$1 recorded within the earlier buying and selling session. That is based on info from the web site the FMDQ Alternate.

A complete of $71.99 million in FX worth exchanged palms on Wednesday as towards the $108.06 million that was traded in the day before today, representing a 33.38% lower.

The alternate price on the parallel market depreciated by 0.66% to commerce at N611/$1 on Thursday morning, from N607/$1 recorded as of the earlier buying and selling session. That is based on info from BDC operators.

In the meantime, the alternate price on the peer-to-peer market recorded a slight uptick on Thursday morning, buying and selling at N612.85/$1 in comparison with N613/$ recorded as of the identical time on Wednesday, twenty second June 2022.

Nigeria’s exterior reserves elevated by 0.07% on Tuesday, twenty first June 2022 to face at $38.82 billion from $38.79 billion recorded the day before today. The nation’s exterior had been on a downward pattern as a result of steady intervention by the Central Financial institution within the FX market in an effort to guarantee the soundness of the native foreign money. Nonetheless, elevated crude oil costs have seen the reserve degree enhance.

Buying and selling on the official NAFEX window

  • The alternate price on the official market depreciated marginally by 0.05% on Wednesday to shut at N420.5/$1 in comparison with N420.28/$1 recorded as of shut of commerce on Tuesday.
  • The opening indicative price closed at N419.46/$1 on Wednesday, twenty second June 2022, from N420.71/$1 recorded on Tuesday.
  • Moreover, an alternate price of N444/$1 was the best price recorded throughout intra-day buying and selling earlier than it settled at N420.5/$1, whereas it traded for as little as N412/$1 throughout intra-day buying and selling.
  • A complete of $71.99 million in FX worth was traded within the official I&E window on Wednesday, which is 33.38% decrease than the $108.06 million that exchanged palms within the earlier buying and selling session.

Foreign exchange provide surges by 135% to $108.1 million at I&E window

Tuesday, twenty first June 2022: The alternate price between the naira and the US greenback closed at N420.28/$1 on the Buyers and Exporters (I&E) window.

Naira closed stronger on Tuesday with a 0.25% achieve to shut at N420.28/$1 in comparison with N421.33/$1 recorded within the final two buying and selling classes. That is based on info culled from the web site the FMDQ Alternate.

A complete of $108.06 million in FX worth exchanged palms on Tuesday as towards the $46.07 million that was traded in the day before today, representing a surge of 134.6%

The alternate price on the parallel market remained steady on Tuesday, depreciated barely by 0.17% to shut at N607/$1 from N606/$1 recorded as of the shut of buying and selling actions on Monday. That is based on info from BDC operators.

In the meantime, the alternate price on the peer-to-peer market depreciated by 0.13% on Wednesday morning, buying and selling at N613/$1 in comparison with N612.19/$ recorded as of the identical time on Tuesday, twenty first June 2022.

Nigeria’s exterior reserves elevated by 0.25% on Monday, twentieth June 2022 to face at $38.79 billion from $38.69 billion recorded the day before today. The nation’s exterior had been on a downward pattern as a result of steady intervention by the Central Financial institution within the FX market in an effort to guarantee the soundness of the native foreign money. Nonetheless, elevated crude oil costs have seen the reserve degree enhance.

Buying and selling on the official NAFEX window

  • The alternate price on the official market improved by 0.25% on Tuesday to shut at N420.28 to a greenback in comparison with N421.33/$1 recorded as of shut of commerce on Monday.
  • The opening indicative price closed at N420.71/$1 on Tuesday, twenty first June 2022, from N490.71/$1 recorded on Monday.
  • Moreover, an alternate price of N444/$1 was the best price recorded throughout intra-day buying and selling earlier than it settled at N420.28/$1, whereas it offered for as little as N413/$1 throughout intra-day buying and selling.
  • A complete of $108.06 million in FX worth was traded within the official I&E window on Tuesday, which is 134.6% increased than the $46.07 million that exchanged palms within the earlier buying and selling session.

Naira closes flat at official market as FX provide crashes to $46.1 million

Monday, twentieth June 2022: The alternate price between the naira and the US greenback closed at N421.33/$1 on the Buyers and Exporters (I&E) window.

Naira remained steady on the official Buyers and Exporters window on Monday, closing on the similar price because it did on Friday of the earlier week at N421.33/$1. That is based on info culled from the web site the FMDQ Alternate.

The quantity of FX that was traded within the I&E window crashed considerably to its lowest in over two months at $46.07 million.

The alternate price on the parallel market remained steady on Monday grew barely stronger, having closed at N606/$1, from N607/$1 recorded as of the shut of buying and selling actions final week on Friday. That is based on info from BDC operators.

In the meantime, the alternate price on the peer-to-peer market depreciated by 0.15% on Tuesday morning, buying and selling at N612.19/$1 in comparison with N611.3/$ recorded as of the identical time on Monday, twentieth June 2022.

Nigeria’s exterior reserves appreciated marginally by 0.08% on Friday, seventeenth June 2022 to face at $38.69 billion from $38.66 billion recorded the day before today. The nation’s exterior had been on a downward pattern as a result of steady intervention by the Central Financial institution within the FX market in an effort to guarantee the soundness of the native foreign money. Nonetheless, elevated crude oil costs have seen the reserve degree enhance.

Buying and selling on the official NAFEX window

  • The alternate price began the week on a steady be aware because the naira closed flat at N421.33/$1, the identical as recorded within the earlier buying and selling session.
  • The opening indicative price closed at N419.71/$1 on Monday, twentieth June 2022.
  • Moreover, an alternate price of N444/$1 was the best price recorded throughout intra-day buying and selling earlier than it settled at N421.33/$1, whereas it offered for as little as N413/$1 throughout intra-day buying and selling.
  • A complete of $46.07 million in FX worth was traded within the official I&E window on Monday, which is the bottom recorded since 4th April 2022.

Naira falls at official market regardless of improved foreign exchange liquidity

Thursday, sixteenth June 2022: The alternate price between the naira and the US greenback closed at N420.5/$1 on the Buyers and Exporters (I&E) window.

Naira grew weaker towards the US greenback on Thursday regardless of enchancment in FS provide on the official market. The alternate price declined by 0.12% to shut at N420.5/$1 in comparison with N420/$1, which it closed on Wednesday. That is based on info culled from the web site the FMDQ Alternate.

The quantity of FX that was traded within the I&E window elevated by 9.41% to $136.35 million from $124.62 million that exchanged palms within the earlier buying and selling session.

The alternate price on the parallel market remained steady on Thursday, having closed at N607/$1, the identical as recorded through the earlier buying and selling session. That is based on info from BDC operators.

In the meantime, the alternate price on the peer-to-peer market appreciated by 0.45% on Friday morning, buying and selling at N607/$1 in comparison with N609.74/$ recorded as of the identical time on Thursday, sixteenth June 2022.

Nigeria’s exterior reserves appreciated marginal by 0.04% on Wednesday, fifteenth June 2022 to face at $38.63 billion from $38.62 billion recorded the day before today. The nation’s exterior had been on a downward pattern as a result of steady intervention by the Central Financial institution within the FX market in an effort to guarantee the soundness of the native foreign money.

Buying and selling on the official NAFEX window

  • The alternate price fell by 0.12% on Thursday, to shut at N420.5/$1 from N420/$1 recorded on Wednesday, fifteenth June 2022.
  • The opening indicative price closed at N419.82/$1 on Friday, sixteenth June 2022, representing a 20 kobo depreciation in comparison with N419.65/$1 recorded on Tuesday.
  • Moreover, an alternate price of N444/$1 was the best price recorded throughout intra-day buying and selling earlier than it settled at N420.5 $1, whereas it offered for as little as N413/$1 throughout intra-day buying and selling.
  • A complete of $136.35 million in FX worth was traded within the official I&E window on Thursday, representing a 9.41% enhance in comparison with $124.62 million traded within the earlier buying and selling session.

Naira falls to N420/$1 at I&E window regardless of moderations at parallel market

Tuesday, seventh June 2022: The alternate price between the naira and the US greenback closed at N420.75/$1 on the Buyers and Exporters (I&E) window.

Naira recorded a 0.12% depreciation on Tuesday to shut at N420.75/$1 in comparison with N420.25/$1 recorded within the earlier buying and selling session, representing its lowest degree since sixteenth of Might 2022. The autumn within the native foreign money is regardless of the 129.7% surge in foreign exchange turnover to $113.12 million on the I&E window.

In the meantime, the alternate price remained steady on the parallel market, closing at N606 to a greenback on Tuesday, the identical as recorded prior to now two buying and selling classes. That is based on info from BDC operators in Nigeria.

The alternate price on the P2P market moderated additional on Wednesday, beginning the day as little as N601/$1, in comparison with N602.5/$1 recorded as of the identical time on Tuesday. This represents a 0.25% appreciation of the alternate price.

In the meantime, Nigeria’s exterior reserves fell by 0.09% on Monday, 4th June 2022 to face at $38.42 billion from $38.46 billion recorded the day before today. The nation’s exterior had been on a downturn since twenty fifth April 2022 largely as a result of steady intervention by the Central Financial institution within the FX market in an effort to guarantee the soundness of the native foreign money.

Buying and selling on the official NAFEX window

The alternate price depreciated by 0.12% on Tuesday to shut at N420.75/$1 from N420.25/$1 recorded on Monday.

  • The opening indicative price closed at N420.1/$1 on Tuesday, seventh June 2022, the identical as recorded on Monday.
  • Moreover, an alternate price of N444/$1 was the best price recorded throughout intra-day buying and selling earlier than it settled at N420.75/$1, whereas it offered for as little as N413/$1 throughout intra-day buying and selling.
  • A complete of $113.12 million in FX worth was traded within the official I&E window on Tuesday, representing a 129.73% enhance in comparison with $49.24 million traded within the earlier buying and selling session.

Crypto market replace

  • Regardless of the restoration posted within the cryptocurrency market yesterday, the market resumed buying and selling actions on Wednesday on a bearish be aware because the trade capitalization declined by 1.75% to face at $1.22 trillion.
  • Essentially the most capitalized crypto asset, bitcoin additionally recorded a 2.69% decline to commerce at $30,287.34, whereas Ethereum with a decline of 1.37% traded at $1,787.22 as of 5:20am (WAT).
  • Equally, Solana recorded a 1.18% decline in worth to commerce at $38.835, Uniswap dipped 1.36% to commerce at $5.146, whereas Luna alternatively, gained 1.03% to commerce at $0.00006466.

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