Latest Black Market Exchange Rate As Naira Continues To Fall Against Dollar

The naira has exchanged N875/$1 at the black market on Monday, 7th November 2022.

This is in contrast to an average of N870/$1 recorded in the previous trading session, according to Nairametrics.

The latest update is according to information from black market traders who spoke to Nairametrics.

However, the exchange rate at the cryptocurrency peer-to-peer FX market between the local currency and the US dollar moderated by 1.42% to trade at a minimum of N861/$1 on Monday morning from N873.44/$1 that it traded at the same time on Friday, 4th November, 2022.

Meanwhile, the naira closed against the US dollar on Friday at N445.5/$1, recording a slight upward movement from N445.75/$1 that it closed in the previous trading session.

Meanwhile, FX turnover at the I&E window declined by 43.63% to $94.07 million on Friday, as against $166.88 million that was traded on Thursday. 

Source:- Nairametrics