Naira, Nigeria’s legal tender on Friday, 23 December 2022, recorded an all-time depreciation against the dollar at the official market known as the Investors and Exporters (I&E) forex window. This happened as more Nigerians, importers continue to demand dollars for their holiday travels, shopping, and business.
Legit.ng checks on the FMDQ securities portal where Naira is officially traded showed that after trading Naira closed at N456.50 to a dollar.
The closing rate is the lowest ever the naira has exchanged against the US dollar at the official market.
Naira’s poor performance happened as most foreign exchange market dealers who participated in the auction on Friday maintained bids at N440.00(low) and N452.00(high).
Black market exchange rates While Naira Rates is reporting that at the parallel market on Friday, 23 December 2022, also known as the black market, the naira exchanged at N735.21 to a dollar.
