THE EXCHANGE RECORDED AN OPENING INDICATIVE RATE OF N463.5/$1 AT THE IEFX EXCHANGE MARKET ON MONDAY 22ND MAY 2023, A MARGINAL DEPRECIATION OF 0.05% FROM N463.25/$1 THAT WAS RECORDED ON FRIDAY 19TH MAY 2023. THE EXCHANGE RECORDED A HIGHEST RATE OF NGN467/$1 DURING THE INTRA-DAY TRADING ON MONDAY 22ND MAY 2023, SAME RATE AS RECORDED IN THE LAST TWO PREVIOUS TRADING SESSIONS, AND WITH A FORWARD RATE OF NGN479.79/$1.THE LOWEST RATE STOOD AT NGN460/$1, THE SAME RATE THAT WAS RECORDED IN THE LAST NINE TRADING SESSIONS, SINCE TUESDAY 9TH MAY 2023, WITH A FORWARD RATE OF NGN467/$1. HOWEVER, FOREX TURNOVER INCREASED BY 16.37% TO $106.84 MILLION AT THE OFFICIAL MARKET ON MONDAY, FROM THE $91.81 THAT EXCHANGED HANDS IN THE PREVIOUS SESSION. THE NATION’S EXTERNAL RESERVES STOOD AT $35.178 BILLION AS OF THURSDAY, 18TH MAY 2023, A MARGINAL DEPRECIATION OF 0.05% FROM $35.196 BILLION RECORDED AS OF WEDNESDAY, 17TH MAY 2023.