Naira Drops Against Dollar, See Latest Exchange Rate

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The naira has exchanged N712/$1 on Thursday morning, 22nd September 2022 at the parallel market aka black market, according to a report by Nairametrics.

This as the naira had on Wednesday exchanged N712.5/$1 at the close of trading yesterday.

On the other hand, the local currency depreciated further at the cryptocurrency peer-to-peer FX market, trading at a minimum of N718.6961 on Thursday morning, a 0.29% decline from N716.59/$1 that it traded at the same time on Wednesday.

Also, the naira dropped marginally against the US dollar on Wednesday to close at N436.5/$1, from N436.25/$1 that it closed in the previous trading session at the I&E window where the currency is traded officially.

Meanwhile, a total of $133.97 million was traded at the window, a decrease of 5.33% when compared to $141.5 million that exchanged hands in the previous session.

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