NAIRA METRICS
Naira depreciated against the US dollar at the black market on Wednesday, 8th February 2023, trading at an average of N750/$1. This represents a depreciation of 0.67% compared to N745/$1 recorded on Tuesday, 7th February 2023.
This is according to information from black market FX traders who spoke to Nairametrics.
Likewise, the exchange rate at the cryptocurrency P2P exchange depreciated on Wednesday, 8th February 2023, trading at a minimum of N747.30/$1, a 0.09% fall against N746.6/$1 recorded in the previous trading session.
On the other side, the exchange rate at the investors and exporters (I&E) window appreciated by 0.14% to close at N461.5/$1 on Tuesday, from N462.17/$1 recorded on Monday, 6th February 2023.
However, Forex turnover at the official market reduced by 39.08% on Tuesday to $74.58 million, from $122.43 million that exchanged hands on Monday. Nigeria’s external reserves level decreased by 0.09% on Friday, 3rd February 2023 to stand at $36.988 billion from $37.02 billion recorded in the previous day…
