Exchange rate at official market depreciates to N463.02/$1 on 10th May 2023

The exchange rate between the naira and the US dollar depreciated at the Investors and Exporters (I&E) window to close at N463.002/$1 on Wednesday, 10th May 2023. This represents a fall of 0.17% from the closing rate of N462.25/$1 it recorded on Tuesday, 9th May 2023.

This is according to Nairametrics daily currency update, tracked and compiled from FMDQ Exchange.

The exchange recorded an opening indicative rate of N463/$1 at the IEFX on Wednesday 10th May 2023, from an opening rate of N463.7/$1 that was recorded on 9th May 2023.

The highest rate, in the same vein, during intra-day trading stood at N467/$1, from N466/$1 recorded in the previous trading session, while the lowest rate stood at N460/$1, same rate recorded on Tuesday 9th May 2023.

However, the sum of $178.68 million was transacted at the official market on Wednesday 10th May 2023, which is 80.78% higher from the $98.84 million that exchanged hands in the previous session. Meanwhile, the nation’s external reserves stood at $35.24 billion as of Tuesday, 9th May 2023, a marginal depreciation of 0.06% from $35.26 billion recorded as of Monday, 8th May 2023.

Other indices

  • The Money market overnight rate increased by 6% to 11.38% on Wednesday 10th May 2023, from the 11.32% recorded in the previous trading session. The Open Repo rate stood at 11% on 10th May 2023, the same rate it recorded in the previous trading session.
  • DEBT: Debt securities size is valued at N32.69 trillion on Wednesday 10th May 2023, from N32.68 trillion recorded on Tuesday 9th May 2023.
  • The S&P Sovereign Bond index stood at 617.13 index level on 9th May 2023 from 617.68 points recorded on Monday, 8th May 2023. This brings the quarter-to-date growth to 0.88% while the year-to-date growth to 0.46%.
  • NAFEX: The Nigerian Autonomous Foreign Exchange Fixing rate depreciated marginally by 0.08% to close at N463.08/$1 on Tuesday, 9th May 2023 from N462.71 that was recorded on Monday 8th May 2023.
  • NIBOR: The Nigerian Inter-Bank Offered rate stood at 11.38% for the overnight (O/N) tenor as of Tuesday 9th May 2023. 1-month tenor (12.18%), 3-month (12.71%), while the 6-month tenor stood at 13.33%.
  • NITTY: The Nigerian Inter-Bank Treasury Bills True Yields’ 1-month tenor rate stood at 3.76%, on Tuesday 9th May 2023.
    • 3-month – 5.50%
    • 6-month – 6.83%
    • 9-month – 8.63%
    • 12-month – 10.57%

 


Naira strengthens against US dollar at official market to N462.25/$1 on 9th May 2023

Naira recorded an appreciation of 0.11% against the US dollar at the Investors and Exporters (I&E) window to close at N462.25/$1 on Tuesday, 9th May 2023, from the closing rate of N462.78/$1 that was recorded on Monday.

This is according to Nairametric’s daily currency update, tracked and compiled from FMDQ Exchange.

An opening indicative rate of N463.5/$1 was recorded at the IEFX on Tuesday 9th May 2023, from an opening rate of N463.7/$1 that was recorded on 8th May 2023.

Likewise, the highest rate during intra-day trading stood at N466/$1, with a forward rate of N463/$1, while the lowest rate stood at N446/$1 with a forward rate of N462/$1.

Forex turnover transacted at the official market on Tuesday 9th May 2023, decreased by 0.49% to $98.84 million from the $99.33 million that exchanged hands in the previous session. Meanwhile, the nation’s external reserves stood at $35.26 billion as of Monday, 8th May 2023, a marginal depreciation of 0.06% from $35.28 billion recorded as of Friday, 5th May 2023.

Other indices

  • The Money market overnight rate stood at 11.32% on 9th May 2023, from the 11.34% recorded on Monday, 8th May 2023. The Open Repo rate stood at 11%, the same rate it recorded in the previous trading session.
  • DEBT: Debt securities sized is valued at N32.68 trillion on Tuesday 9th May 2023, from N32.56 trillion recorded on Monday 8th May 2023.
  • The S&P Sovereign Bond index stood at 617.68 index level on 8th May 2023 from 617.93 points recorded on Friday, 5th May 2023. This brings the month-to-date growth to 0.05%, the quarter-to-date growth to 0.97% and the year-to-date growth to 0.55%.
  • NAFEX: The Nigerian Autonomous Foreign Exchange Fixing rate depreciated marginally by 0.01% to close at N462.71/$1 on Monday, 8th May 2023.
  • NIBOR: The Nigerian Inter-Bank Offered rate stood at 11.45% for the overnight (O/N) tenor as of Monday 8th May 2023. 1-month tenor (12.37%), 3-month (13.15%), while the 6-month tenor stood at 13.95%.
  • NITTY: The Nigerian Inter-Bank Treasury Bills True Yields’ 1-month tenor rate stood at 3.88%, on Monday 8th May 2023.
    • 3-month – 5.36%
    • 6-month – 6.77%
    • 9-month – 8.88%
    • 12-month – 10.86%

Official market rate falls to N462.78/$1 on 8th May 2023

The exchange rate between the naira and the US dollar depreciated at the Investors and Exporters (I&E) window to close at N462.78/$1 on Monday, 8th May 2023, representing a fall of 0.12% from the closing rate of N462.23/$1 that was recorded last week Friday.

This is according to Nairametric’s daily currency update, tracked and compiled from FMDQ Exchange.

The exchange rate at the IEFX recorded an opening indicative rate of N463.7/$1 on Monday 8th May 2023, from an opening rate of N463.5/$1 recorded on 5th May 2023.

Likewise, the highest rate during intra-day trading stood at N466 to a dollar, with a forward rate of N478.61/$1, while the lowest rate stood at N446/$1 with a forward rate of N478.61/$1.

However, the sum of $99.33 million was traded at the official market on Monday 8th May 2023, which is 22.57% lower than the $128.29 million that exchanged hands in the previous session.

Meanwhile, the nation’s external reserves stood at $35.28 billion as of Friday, 5th May 2023, a marginal depreciation of 0.03% from $35.29 billion recorded as of Thursday, 4th May 2023.

Other indices

  • The Money market overnight rate dropped by 4 basis points to stand at 11.34% on 8th May 2023, from the 11.38% recorded on Friday, 5th May 2023. The Open Repo rate stood at 11%, the same rate it recorded in the previous trading session.
  • DEBT: Debt securities sized is valued at N32.56 trillion on Monday 8th May 2023, the same rate as recorded on Friday 5th May 2023.
  • The S&P Sovereign Bond index stood at 617.93 index level on 5th May 2023 from 617.7 points recorded on Thursday, 4th May 2023. This brings the month-to-date growth to 0.13%, the quarter-to-date growth to 1.01% and the year-to-date growth to 0.59%.
  • NAFEX: The Nigerian Autonomous Foreign Exchange Fixing rate depreciated marginally by 0.02% to close at N462.67/$1 on Friday, 5th May 2023.
  • NIBOR: The Nigerian Inter-Bank Offered rate stood at 11.47% for the overnight (O/N) tenor as of Friday 5th May 2023. 1-month tenor (11.48%), 3-month (12.24%), while the 6-month tenor stood at 13.04%.
  • NITTY: The Nigerian Inter-Bank Treasury Bills True Yields’ 1-month tenor rate stood at 4.62%, on Friday 5th May 2023.
    • 3-month – 5.77%
    • 6-month – 6.76%
    • 9-month – 8.52%
    • 12-month – 10.49%

 


Exchange rate gains at official market on 5th May 2023, appreciating to N462.23/$1

Naira appreciated against the US dollar at the Investors and Exporters (I&E) window to close at N462.23/$1 on Friday, 5th May 2023. This represents an improvement of 0.14% from the closing rate of N462.88 to a dollar recorded in the previous trading session.

This is according to Nairametric’s daily currency update, tracked and compiled from FMDQ Exchange.

The exchange rate at the IEFX recorded an opening indicative rate of N463.5/$1 on Friday 5th May 2023, from N463.25/$1 that was recorded on 4th May 2023.

Also, the highest rate during intra-day trading stood at N466 to a dollar, with a forward rate of N478.25/$1, while the lowest rate stood at N446/$1 with a forward rate of N478.25/$1.

Forex turnover, however, increased by 18.32% to $128.29 million at the official market on Friday 5th May 2023, from the $108.43 million that exchanged hands in the previous session. Meanwhile, the nation’s external reserves stood at $35.276 billion as of Wednesday, 3rd May 2023 from $35.278 billion recorded as of Tuesday, 2nd May 2023.

Other indices

  • The Money market overnight rate stood at 11.38% on 5th May 2023, the same rate it recorded on Thursday, 4th May 2023. The Open Repo rate stood at 11%, the same rate it recorded in the previous trading session.
  • DEBT: Debt securities are valued at N32.56 trillion on Friday 5th May 2023, from the N32.57 trillion that was recorded on Thursday 4th May 2023.
  • The S&P Sovereign Bond index dropped to 617.70 index level on 4th May 2023 compared to 618.52 points recorded on Wednesday, 3rd May 2023. This brings the month-to-date growth to a negative valuation of 0.13%, the quarter-to-date growth to 0.97% and the year-to-date growth to 0.56%.
  • NAFEX: The Nigerian Autonomous Foreign Exchange Fixing rate appreciated marginally by 0.07% to close at N462.58/$1 on Thursday, 4th May 2023.
  • NIBOR: The Nigerian Inter-Bank Offered rate stood at 11.29% for the overnight (O/N) tenor as of Thursday 4th May 2023. 1-month tenor (12.33%), 3-month (13.11%), while the 6-month tenor stood at 13.60%.
  • NITTY: The Nigerian Inter-Bank Treasury Bills True Yields’ 1-month tenor rate stood at 4.68%, on Thursday 4th May 2023.
    • 3-month – 5.69%
    • 6-month – 6.63%
    • 9-month – 8.28%
    • 12-month – 10.28%

Naira appreciates to N462.88/$1 at official market on 4th May 2023

The exchange rate between the naira and the US dollar appreciated marginally by 0.03% at the Investors and Exporters (I&E) window to close at N462.88/$1 on Thursday, 4th May 2023, compared to the closing rate of N463 to a dollar recorded in the previous trading session.

This is according to Nairametric’s daily currency update, tracked and compiled from FMDQ Exchange.

The exchange rate at the IEFX recorded an opening indicative rate of N463.25/$1 on 4th May 2023, from N463.17/$1 it recorded on Wednesday.

Also, the highest rate during intra-day trading stood at N466 to a dollar, with a forward rate of N477.86/$1, while the lowest rate stood at N460/$1 with a forward rate of N473.72/$1.

Notably, the sum of $108.43 million was transacted at the official market on 4th May 2023, which significantly increased by 107.24% from the $52.32 million that exchanged hands in the previous session. Meanwhile, the nation’s external reserves stood at $35.28 billion as of Tuesday, 2nd May 2023 from $35.25 billion recorded as of Friday, 28th April 2023.

Other indices

  • The Money market overnight rate dropped by 12 basis points from 11.50% recorded on 3rd May 2023, to 11.38% on Thursday, 4th May 2023. The Open Repo rate stood at 11%, same rate as recorded on Wednesday 3rd May 2023.
  • DEBT: Debt securities is valued at N32.57 trillion on Thursday 4th May 2023, same as recorded on Wednesday 3rd May 2023.
  • The S&P Sovereign Bond index rose to 618.52 index points on 3rd May 2023 compared to 618.2 points recorded on Tuesday, 2nd May 2023. This brings the month-to-date growth to 0.18%, the quarter-to-date growth to 1.11% while the year-to-date growth to 0.69%.
  • NAFEX: The Nigerian Autonomous Foreign Exchange Fixing rate fell marginally by 0.06% to close at N462.90/$1 on Wednesday, 3rd May 2023.
  • NIBOR: The Nigerian Inter-Bank Offered rate stood at 11.38% for the overnight (O/N) tenor as of Wednesday 3rd May 2023. 1-month tenor (12.79%), 3-month (13.96%), while the 6-month tenor stood at 14.44%.
  • NITTY: The Nigerian Inter-Bank Treasury Bills True Yields’ 1-month tenor rate stood at 4.05%, on Wednesday 3rd May 2023.
    • 3-month – 5.51%
    • 6-month – 6.53%
    • 9-month – 8.24%
    • 12-month – 9.80%

Official exchange rate depreciates to N463/$1 on 3rd May 2023

Naira depreciated by 0.14% against the US dollar at the Investors and Exporters (I&E) window to close at N463/$1 on Wednesday, 3rd May 2023, from the closing rate of N462.33/$1 recorded in the previous trading session.  

This is according to Nairametrics daily currency update, tracked and compiled from FMDQ Exchange. 

The exchange rate at the IEFX recorded an opening indicative rate of N463.17/$1 on 3rd May 2023, representing an appreciation of 0.13% in contrast to N463.75/$1 it recorded on Monday, 2nd May 2023. 

Also, the highest rate during intra-day trading stood at N465/$1, with a forward rate of N467/$1, while the lowest rate stood at N460/$1 with a forward rate of N467/$1. 

However, forex turnover increased by 13.64% to $52.32 million at the official market on Wednesday 3rd May 2023, from the $46.04 million that exchanged hands in the previous session. Meanwhile, the nation’s external reserves stood at $35.28 billion as of Tuesday, 2nd May 2023 from $35.25 billion recorded as of Friday, 28th April 2023. 

 

Other indices 

  • The Money market overnight rate rose by 12 basis points from 11.38% recorded on Tuesday 2nd May 2023 to 11.50% on Wednesday, 3rd May 2023. The Open Repo rate stood at 11%, the same rate as recorded on Tuesday 2nd May 2023. 
  • DEBT: Debt securities are valued at N32.57 trillion on Wednesday 3rd May 2023, from N32.58 trillion recorded on Tuesday 2nd May 2023. 
  • The S&P Sovereign Bond index rose to 618.2 index points on 2nd May 2023 compared to 617.63 points recorded on Friday, 28th April 2023. This brings the month-to-date growth to 0.13%, the quarter-to-date growth to 1.05% and the year-to-date growth to 0.64%. 
  • NAFEX: The Nigerian Autonomous Foreign Exchange Fixing rate appreciated marginally by 0.02% to close at N462.63/$1 on Tuesday, 2nd May 2023. 
  • NIBOR: The Nigerian Inter-Bank Offered rate stood at 12% for the overnight (O/N) tenor as of Tuesday 2nd May 2023. 1-month tenor (13.2%), 3-month (14.13%), while the 6-month tenor stood at 14.5%. 
  • NITTY: The Nigerian Inter-Bank Treasury Bills True Yields’ 1-month tenor rate stood at 4.41%, on Tuesday 2nd May 2023. 
  • 6-month – 6.91% 
  • 9-month – 8.52% 
  • 12-month – 10.00% 

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