On Sunday, April 30, the Naira strengthened against the US dollar in the Peer-2-Peer (P2P) market but fell in the Investors and Exporters (I&E) and parallel market windows of the foreign exchange (FX) market.
Currency traders in the P2P wing of the market exchanged the Naira to the Dollar at N749/$1 during the session, compared to N750/$1 the day before, indicating that the local currency appreciated by N1 in 24 hours.
In the black market, however, the domestic currency depreciated by N2 against its American counterpart, selling at N739/$1 as opposed to N737/$1 on Thursday.
In the official market, the Nigerian Naira fell 87 Kobo, or 0.22 percent, against the US dollar on Friday, trading at N463.00/$1, down from N462.13/$1 the previous day.
In the interbank market, the Naira gained 72 Kobo against the Pound Sterling yesterday, finishing at N574.06/£1 versus N574.78/£1 the previous session, and it gained N1.26 against the Euro, rising to N507.79/€1 from N509.11/€1.
Bitcoin (BTC) fell below $29,500 in the cryptocurrency market as a result of the release of the US Personal Consumption Expenditure (PCE) Price Index, which came in at market expectations.
The Core PCE Price Index fell 4.6 percent year on year and rose 0.3% month on month.
BTC, the most valuable cryptocurrency, fell 1.3 percent to $29,362.26, Ethereum (ETH) saw its hopes of approaching $1,900 dashed after falling 1.4 percent to $1,897.98, Binance Coin (BNB) fell 3.2 percent to $324.81, Cardano (ADA) fell 1.6 percent to $0.4056, and Litecoin (LTC) fell 0.5 percent to $89.75.
However, Solana (SOL) increased by 3.2% to $23.19, Ripple (XRP) increased by 2.4% to $0.4791, and Dogecoin (DOGE) increased by 0.3% to $0.0805, while the US Dollar Tether (USDT) and Binance USD (BUSD) remained unchanged at $1.00 each.
