BREAKING: Naira appreciates to N669/$1 at the peer-to-peer market

Dollar (USD) to Naira Black Market Rate today- 25th May 2022

From N692.25/$1 on Monday, August 1, 2022, the exchange rate between the naira and the US dollar increased to N669/$1 on Tuesday morning. This is based on data acquired from markets for peer-to-peer (P2P) cryptocurrency exchange.

The naira, which had drastically depreciated to above N700/$1 the week before, reversed course on Tuesday, rising 3.36 percent to trade at a minimum of N669 to the dollar.

Similar to this, in the parallel market, traders buy and sell dollars at an average exchange rate of N670 to 1; this indicates a margin of N40 for each dollar.

READ ALSO
President Buhari departs Nigeria for Egypt

The sustained scarcity of FX across the country saw the exchange rate fall drastically in the past week, hitting a record high of N718/$1 on Friday, 29th July 2022 according to information from black market traders.

READ ALSO
Naira drops down to N1,000 per dollar despite Tinubu’s float test




Stay Connected , follow us on: Facebook: @creebhillsdotcom, Twitter: @creebhillsblog, Instagram: @creebhills, Pinterest: @creebhills Telegram: creebhills


Follow my blog with Bloglovin
To place an advert/sponsored post on our site, contact us via [email protected]

READ ALSO
Dollar (USD) to Naira Black Market Exchange Rate Today – 17th October 2022