Dollar To Naira Exchange, Today 25th August, 2022

By Tolulope Oke

In the Peer-to-peer foreign exchange segment, the Dollar to Naira rate today, 25th of August is set at N697.31/$1.

The local currency further plunged against the American currency as the previous trading session concluded at N696.43/$1.

In the same vein, the Naira depreciated in the official Investors and Exporters Window, as the exchange rate closed at N431/$1 to a dollar on Wednesday, 24th August 2022 recording a dip of 0.08% when compared to N430.67/$1 recorded on Tuesday.

The opening indicative rate decreased to N428.67 for every $1 from Tuesday’s N429.07 for every $1. Additionally, the currency rate moved as low as N417/$1 during intraday trading, with the highest rate during intraday trading reaching N444/$1 before it closed at N431/$1.

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FX value totaled $131.3 million on Wednesday, a 25.3% decrease from the $175.67 million that was traded on Tuesday, August 22, 2022.

The unregulated market (black market) on the other hand expectedly experiences the same fate, as the local currency is exchanged at N694/$1 according to currency traders in Lagos and Bureau De Change (BDC). This is against N690/$1 it traded as of the same time yesterday.

Meanwhile, in the official Central Bank of Nigeria (CBN) foreign exchange session, the Naira was exchanged at N422.39/$1 yesterday, compared to N422.08/$1 it concluded on Tuesday – indicating a dip of 0.07.