Categories: Top Stories

BREAKING: Dollar To Naira Exchange Rate Crashes To N870/$1….

Dollar to Naira Exchange Rate crashed to N870/$1 on 4th November 2022.

 

CityNews Nigeria  reports that Dollar To Naira Exchange Rate crashes drastically on the black market on Friday, 4th of November 2022, trading at an average of N870/$1 according to information obtained from black market traders in Lagos and Abuja.

Advertisement

 

This online news understands that the current crash of the Dollar To Naira Exchange Rate represents a steep decline of 6.13% compared to N820/$1 recorded in the previous trading session.

Advertisement

November 4 dollar to naira black market exchange rate: $1 dollar to naira = ₦870

 

Dollar to Naira (USD to NGN) Black Market Exchange Rate Today
Buying Rate N865
Selling Rate N870

The exchange rate at the cryptocurrency peer-to-peer FX market also declined against the US dollar to trade at a minimum of N873.44/$1 on Friday morning. This represents a devaluation of 3.15% in contrast to N846.8/$1 which it traded at the same time on Thursday, 3rd November 2022.

Advertisement
On the other hand, the naira closed against the US dollar on Wednesday at N445.75/$1, a slight appreciation of 0.06% from N446/$1 recorded in the previous trading session. Meanwhile, the FX turnover at the I&E window improved by 143.41% to close at $166.88 million on Thursday, from $68.56 million that was traded on Wednesday.

However, Nigeria’s external reserve dropped further to $37.37 billion as of 1st November 2022, representing a decline of 0.06% in contrast to $37.39 billion recorded on Monday 31st October 2022.

Trading at the official NAFEX window

The exchange rate at the official market closed at N445.75/$1 on Thursday, 3rd November 2022, an appreciation of 0.06% from N446/$1 recorded in the previous trading day.

Advertisement

  • The opening indicative rate closed at N443.58/$1 on Thursday, 3rd November 2022.
  • Furthermore, an exchange rate of N447/$1 was the highest rate recorded during intra-day trading before it settled at N445.75/$1, while it traded as low as N431/$1 during intra-day trading.
  • A total of $166.88 million in FX value was traded at the Investors and Exporters window on Thursday, which is 143.41% higher than the $68.56 million traded on Wednesday.
Ayoola Olaitan

Recent Posts

Breaking: Ibadan Stampede: Court Orders Remand Of Ooni’s Ex-Wife, School Principal

A Chief Magistrate in Ibadan, Olabisi Ogunkanmi, has ordered the remand of Prophetess Naomi Silekunola, the…

17 minutes ago

Nkechi Blessing gets engaged to younger lover, Xxssive [VIDEO]

Popular Nollywood actress, Nkechi Blessing has finally got engaged to her younger lover, Xxssive. This…

2 hours ago

GOAT: Who said Messi is better than me – Cristiano Ronaldo

Al Nassr captain, Cristiano Ronaldo, has jokingly reacted to a Lionel Messi taunt as he…

2 hours ago

Regina Daniels reveals the best way to predict one’s future as she shares more photos from her vacation

Popular Nollywood actress, Regina Daniels who is still enjoying her trip to the United States,…

2 hours ago

Jay-Z has no ‘plans to show loyalty to longtime friend Diddy’ as he battles r@pe allegation

Jay-Z has no plans to show loyalty to longtime friend Sean 'Diddy' Combs amid the…

2 hours ago

Selena Gomez flashes gorgeous $1M engagement ring

Selena Gomez is proudly flaunting her fiancée status as she showed off her huge engagement…

2 hours ago