BREAKING: Dollar To Naira Remains Stable in face of FX market volatility, (See Exchange Rate)

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Dollar to Naira Black Market Exchange Rate Today , Black Market Dollar To Naira Exchange Rate Today Naira to Dollar

Naira to dollar has remained stable in the face of FX market volatility in all FX markets. See the New Exchange Rate below.

At the official Investors and Exporters (I&E) window, the naira and the US dollar exchange rate closed at N415.75/$1.

The naira depreciated against the US dollar on Tuesday, closing at N415.75/$1 versus N415.33/$1 at the close of trading on Monday, January 31, 2022.

The exchange rate on the Peer-to-Peer (P2P) market, on the other hand, increased marginally by 0.262 percent to N570/$1 on Wednesday morning, compared to N571.5/$1 the day before.

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The official market’s forex turnover increased by 73.9 percent to $165.3 million from $95.07 million the previous trading session.

On the other hand, the exchange rate increased by 0.262 percent on Wednesday morning in the P2P market, trading at a low of N570/$1 compared to N571.5/$1 on Tuesday morning.

The parallel market Naira closed flat at N568/$1, the same as the previous trading session. According to data gathered from BDC operators interviewed by Nairametrics, this is the case.

Nigeria’s foreign reserve fell by $80.55 million on Monday, closing at $40.04 billion as of January 31, 2022, a 0.2 percent decrease from the previous day’s figure of $40.12 billion. This means that in January 2022, the external reserve fell by $481.4 million.

Read Also : Latest Dollar To Naira Exchange Rate Wednesday, 2 February 2022

Trading at the NAFEX official window
On Tuesday, February 1st, 2022, the Investors and Exporters window exchange rate closed at N415.75/$1, a 0.1 percent depreciation from the previous trading session’s rate of N416.33/$1.

Keep an eye on the market.

The crypto market performed well on Tuesday, closing with a 1.6 percent gain to $1.756 trillion. This representing a $27.68 billion increase in market capitalization. In a similar vein, bitcoin, the most valuable crypto asset, rose 0.89 percent to $38,835.7.

Additionally, Ethereum gained 4.1 percent to close at 2,799.88, while Solana gained 11.81 percent to close at $111.3125. Tera,  lost 0.4 percent on Tuesday to close at $51.9652057, while Uniswap lost 4.92 percent to trade at $11.2.

Binance, the world’s largest cryptocurrency exchange, has suspended 281 Nigerian users’ personal accounts due to security concerns.

The decision to restrict some personal accounts was made to ensure user safety.  According to the exchange’s CEO, more than a third of the affected accounts were restricted at the request of international law enforcement.

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