Danjuma
The exchange rate between the naira and the dollar fell to N702/1 at the end of the day on Thursday, June 15th, 2023 at the official Investor and Exporter window.
This is according to data from the FMDQ where the exchange rate is sold officially by traders.
This is also the first full day of trading since the central bank issued new Operational Changes to the Foreign Exchange Market which essentially gave traders the freedom to trade at marketdetermined prices.
According to information seen by Nairametrics, the closing rate for the day was N702.19/1 after opening trades at N658.5/.
The intraday low was however N461/1.
The total turnover during the day was just 70 million lower than the 193.3 million that was transacted the day earlier.
The intraday high was N791/1 which means the exchange rate sold at that price during trading.
Keypoints
- Naira depreciates by 5.4
- Inflation rate continues to rise
- Goldman Sachs report
I wish the exchange rate becomes efficient