On the week’s last trading session, the Naira closed stronger against the US dollar at the Peer-to-Peer (P2P) window of the foreign exchange (FX) market, selling at N786/$1 compared to the previous day’s exchange rate of N787/$1.
Similarly, the Naira gained N2 against the US dollar in the black market yesterday, trading at N775/$1 instead of N777/$1 on Thursday.
However, in the forex market’s Investors and Exporters (I&E) segment, the domestic currency fell by 0.3% or N1.33 to settle at N446.33/$1 compared to the previous session’s N445/$1.
According to FMDQ Securities Exchange data, FX turnover at the I&E window on Friday was $117.26 million, a $28.63 million or 19.6 percent decrease from the $145.89 million reported the day before.
Yesterday, the Nigerian Naira closed flat against the Pound Sterling and the Euro in the interbank market at N526.97/£1 and N455.56/€1, respectively.
Meanwhile, in the cryptocurrency market, most of the 10 cryptos tracked by entrepreneurng pointed north, with Dogecoin (DOGE) surging by 14.6% to $0.093.
This occurred as the crypto market is still reeling from a brutal month, with investor confidence shattered by news that FTX, once one of the largest and most popular crypto exchanges, had gone bankrupt.
Binance Coin (BNB) increased by 5.5 percent to trade at $311.11, Ethereum (ETH) increased by 3.8% to sell at $1,220.31, Cardano (ADA) increased by 2.9 percent to trade at $0.319, and Solana (SOL) increased by 2.8% to trade at $14.41.
Furthermore, Ripple (XRP) increased by 2.4 percent to $0.4079, Bitcoin (BTC) increased by 1.4 percent to $16,626.37, and Litecoin (LTC) increased by 1.3 percent to $77.20.
Tether (USDT) and Binance USD (BUSD) remained unchanged at $0.9995 and $1.00, respectively.
