Naira depreciates to N753/ at the black market on 24th January 2023

Naira depreciates to N753/$1 at the black market on 24th January 2023

NAIRAMETRICS

Naira weakened against the US dollar at the black market on Tuesday morning, 24th January 2023, having depreciated by 1.07% to trade at an average of N753/$1 compared to an average of N745/$1 recorded on Monday. 

This is according to information from FX black market traders who spoke to Nairametrics.  

Also, the exchange rate at the cryptocurrency P2P exchange depreciated on Tuesday morning to trade at a minimum of N747/$1, a 0.27% downtrend compared to N745/$1 recorded as of the same time on Monday. 

In the same vein, the exchange rate at the investors and exporters (I&E) window closed at N461.63/$1 on Monday, 23rd January 2023, representing a 0.03% dip from N461.5/$1 recorded in the previous trading session. 

Forex turnover however rallied by 37.14% on Monday to $132.77 million, in contrast to the $96.81 million that exchanged hands in the previous session. Nigeria’s external reserves stood at $37.19 billion as of 20th January 2023, representing a decrease of 0.03% from the $37.20 billion recorded as of 19th January 2023. 

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