Mega Millions Promo Mega Millions Promo Mega Millions Promo
NewsOnline Nigeria
  • Home
  • News
  • Politics
  • Entertainment
  • Education
  • Jobs
  • Sports
  • Brands & Marketing
  • World
  • Crime Watch
  • Opinion
No Result
View All Result
  • Home
  • News
  • Politics
  • Entertainment
  • Education
  • Jobs
  • Sports
  • Brands & Marketing
  • World
  • Crime Watch
  • Opinion
No Result
View All Result
NewsOnline Nigeria
No Result
View All Result
  • Home
  • News
  • Politics
  • Entertainment
  • Education
  • Jobs
  • Sports
  • Brands & Marketing
  • World
  • Crime Watch
  • Opinion
Home Economy And Business

Naira Falls At P2P Market Despite Gains Recorded At Official Window

NewsOnlineng by NewsOnlineng
January 6, 2022
in Economy And Business, Headline
naira

Naira

Naira has fallen at P2P Market despite gains recorded at the official window.

 

 

NewsOnline reports that the exchange rate between the naira and the US dollar at the official Investors and Exporters (I&E) window closed at N416/$1.

 

Naira, NewsOnline Nigeria reports, recorded further gains against the US dollar on Wednesday to close at N4167/$1, representing a 1.58% appreciation compared to N422.67/$1 recorded in the previous trading session. In the same vein, forex turnover at the official market increased by 5.4% to $114.95 million compared to $109.07 million that exchanged hands on Tuesday.

 

BREAKING: Naira Experiences Major Fall At Black Market First Time In 2022

 

On the other hand, exchange rate fell by 0.36% at the P2P market on Thursday morning trading at a minimum of N571/$1 compared to N568.9/$1 recorded on Wednesday.

 

Meanwhile, at the parallel market, naira depreciated marginally by 0.18% to close at N568/$1 on Wednesday compared to N567/$1 recorded as of the close of the year. This is according to information obtained from BDC operators interviewed by Nairametrics.

Similarly, Nigeria’s foreign reserve started the year with a decline of $2.518 million to close at $40.52 billion as of 4th January 2022, representing a 0.01% decline compared to $40.52 billion recorded as of 31st December 2021. Meanwhile, the continuous decline in the nation’s external reserve is attributed to the intervention by the apex bank in the official forex market.

Trading at the official NAFEX window

The exchange rate at the Investors and Exporters window closed at N416/$1 on Wednesday, 5th January 2022, which represents a 1.58% gain compared to N422.67/$1 recorded in the previous trading session

  • The opening indicative rate closed at N423.56/$1 on Wednesday, which represents a 2.69kobo appreciation compared to N426.25/$1 recorded in the previous trading session.
  • An exchange rate of N452.13/$1 was the highest rate recorded during intra-day trading before it settled at N416/$1, while it sold for as low as N405/$1 during intra-day trading.
  • Forex turnover at the official window increased marginally by 5.4% to $114.95 million on Wednesday, 5th January 2022.
  • According to data tracked by Nairametrics from FMDQ, forex turnover at the I&E window increased from $109.07 million recorded on Tuesday 4th January 2022 to $114.95 million on Wednesday 5th January 2022.

Meanwhile, NewsOnline Nigeria reports that the USD started this week at ₦560 in Parallel Market also known as Black Market on Monday, January 3, 2022 in Lagos Nigeria, after it opened at ₦555 last week Monday, December 27, 2021.

 

Disclaimer: NEWSONLINE NIGERIA does not set or determine forex rates. The official NAFEX rates are obtained from the website of the FMDQOTC. Parallel market rates (black market rates) are obtained from various sources including online media outlets. The rates you buy or sell forex may be different from what is captured in this article.

Related

Previous Post

BREAKING: Naira Experiences Major Fall At Black Market First Time In 2022

Next Post

Black Market Dollar To Naira Exchange Rate Today 6th January 2022

NewsOnlineng

NewsOnlineng

Next Post
naira

Black Market Dollar To Naira Exchange Rate Today 6th January 2022

Trending Stories

naira

Black Market Dollar To Naira Exchange Rate Today 27 June 2022

naira

Black Market Dollar To Naira Exchange Rate Today 28 June 2022

ASUU Strike

YSU Resumes Amid ASUU Strike, Releases Adjusted Academic Calendar

Alexx Ekubo Biography

Alexx Ekubo Biography, Age, Wife, Children, Net Worth, Source of Wealth

I've Court Documents, Tinubu Is A Drug Lord - Omokri

Bola Tinubu Real Name: Yekini Amoda Ogunlere From Iragbiji Osun State

naira

Black Market Dollar To Naira Exchange Rate Today 26 June 2022

NPower News

Latest NPower News For Today Tuesday, 28 June 2022

ASUU Strike Update

Latest ASUU News On Resumption, ASUU Strike Update Today, 28 June 2022

naira

Black Market Dollar To Naira Exchange Rate Today 25 June 2022

PVC Registration

BREAKING: Government Declares One-Week Public Holiday For PVC Registration

Latest Stories

R&B Singer R. Kelly

BREAKING: R&B Singer R. Kelly Bags 30 Years Jail Term

2023: PDP Constitution Provides For Rotational Presidency - Fayose

2023: PDP Constitution Provides For Rotational Presidency – Fayose

naira

BREAKING: Naira Falls Massively At Aboki Black Market, See New Exchange Rate

I've Court Documents, Tinubu Is A Drug Lord - Omokri

I’ve Court Documents, Tinubu Is A Drug Lord – Omokri

Osun Election: They Are Monitoring My Movements - Davido Cries Out

Osun Election: They Are Monitoring My Movements – Davido Cries Out

Ekweremadu: A Call On Our President - Femi Kayode

Ekweremadu: A Call On Our President – Femi Kayode

President Buhari Failed In Protecting Nigerians Abroad - Kayode

President Buhari Failed In Protecting Nigerians Abroad – Kayode

naira

Black Market Dollar To Naira Exchange Rate Today 29 June 2022

Jonathan

Jonathan Explains Why He Did Not Embark On Constitutional Reforms

LASU Resumption Date

LASU Resumption Date For 2022/2023 Academic Session Announced

  • About
  • Advertise
  • Privacy & Policy
  • Contact

Copyright © 2022 Newsonline Nigeria

No Result
View All Result
  • Home
  • News
  • Politics
  • Entertainment
  • Education
  • Jobs
  • Sports
  • Brands & Marketing
  • World
  • Crime Watch
  • Opinion

Copyright © 2022 Newsonline Nigeria