Dollar To Naira Rate Today, 11th October, 2022

By Tolulope Oke

The dollar to Naira rate today, 11th October 2022 is set at N736 in the black market segment. This is according to currency traders in Lagos,

In contrast to N735 it traded last week, this Naira slumped by N1 or 0.14 per cent in the unregulated sector.

In similar vein, N729.8/$1 was exchanged at the same time on Friday, October 6, 2022, when the naira fell moderately by 0.29% to trade at a minimum of N731.94/$1 on Tuesday morning at the Peer-to-peer segment.

The naira/dollar exchange rate at the I&E official window fell to its lowest point on Friday, October 7, 2022, down by 0.58% to settle at N439.17/$1, down from N436.63/$1 on Thursday.

The opening indicative rate closed at N437/$1 on Friday, 7th October 2022, the same as recorded on Thursday.

Meanwhile, a total of $99.7 million in forex was traded on Friday, 7th October 2022, recording a slight drop of 1.03% as against $100.74 million that exchanged hands in the previous session.

• READ ALSO: Exchange Rate Today, 6th October 2022
• READ ALSO: Dollar To Naira Today, 7th October, 2022

Nigeria’s foreign exchange reserves were $38.1 billion as on October 6, 2022, a minor decrease of 0.03% from the $38.11 billion reported the day before. Due to the CBN’s ongoing involvement in the official market to preserve the stability of the local currency, the country’s foreign reserve has been on the decline.

While in the Central Bank of Nigeria’s (CBN) foreign exchange segment, the Naira slumped by 0.13 per cent on Friday to settle at N434.78 in contrast to N434.22 it closed on Thursday.

Meanwhile, in the crypto market, the movement was bearish for all coins

BTC slumped by 0.75% to sell at  $19,116.96, ETH fell by 1.63% to trade at $1,286.59, LTC fell by 2.07% to sell at  $52.05, BCH depreciated by 3.21% to sell at  $111.7, IOTA slumped by 3.02% to trade at $0.2603, XRP fell by 5.08% to sell at $0.491, ADA depreciated by 4.99% to trade at $0.3959, and DSH fell by  3.00% to close at $41.34.