According to Nairametrics, black market traders traded the naira and the US dollar closed at an average of N773/$1 on Monday, 28th November 2022 at the black market and this represents a 0.64% appreciation as against N778/$1 recorded last week Friday.
The naira also improved against the US dollar on Monday at the cryptocurrency peer-to-peer market, as it closed at a minimum of N776.8/$1, appreciating by 0.15% from N777.99/$1 that was recorded in previous trading sessions.
It is worthy of note that the naira depreciated against the US dollar on Friday, 25th November 2022 as it closed at N446.33/$1 at the I&E window thereby representing a 0.3% depreciation from N445/$1 recorded in the previous trading session.
A total of $117.26 million was traded at the official market on Friday, which is 19.62% lower than the $145.89 million traded on Thursday.
In conclusion, Nigeria’s external reserve dropped slightly by 0.01%, to stand at $37.181 billion as of 24th November 2022 in contrast to $37.186 billion recorded as of the day before.
