The Nigerian Naira appreciated on Tuesday by 0.14k, selling at N461.50/$1 compare to Monday sales of N462.17/$1 in the Investors and Exporters (I&E) segment of the foreign exchange (FX) market.
Observing closely, this occurred as the value of FX transactions at the official market window depreciated by 39.1 per cent or $47.85 million. At the close of trades, the turnover for the session stood at $74.58 million compared with the $122.43 million recorded at the previous session.
Similarly, in the parallel market wing of the FX market on Tuesday, the Naira regained strength against the American Dollar after it gained N3 to sell at N750/$1, in contrast to the preceding day’s N753/$1, Business Post reports.
But in the Peer-2-Peer (P2P) forex segment, the Naira showed no movement against the United States Dollar, closing flat at N761/$1 yesterday.
This same scenario played out in the interbank window of the market, where the domestic currency was flat against the Pound Sterling and the Euro at N555.40/£1 and N496.32/€1, respectively.
In the cryptocurrency market, there was a major green swing following a near collision with a key support point, with Bitcoin (BTC) holding strong to its resistance level, rising by 1.7 per cent yesterday to $23,270.17, as Ethereum (ETH) jumped by 3.1 per cent to $1,680.40.
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Solana (SOL) grew by 3.6 per cent to $23.89, Cardano (ADA) appreciated by 3.2 per cent to $0.399, Litecoin (LTC) rose by 2.3 per cent to $101.21, Dogecoin (DOGE) went up by 2.1 per cent to $0.0925, Ripple (XRP) expanded by 1.8 per cent to $0.4019, and Binance Coin (BNB) pointed up by 1.7 per cent to $332.10, while Binance USD (BUSD) and the US Dollar Tether (USDT) remained flat at $1.00 each.