On Tuesday, November 22, the Naira depreciated against the Dollar in the Peer-to-Peer (P2P) and Investors and Exporters (I&E) segments of the foreign exchange (FX) market, but appreciated in the parallel market.
In the P2P market, the local currency fell by N2 against the US dollar, selling at N794/$1 as opposed to the N792/$1 it closed at on Monday.
In addition, the local currency fell by 12 Kobo, or 0.03 percent, against the US dollar in the spot market, closing at N444.50/$1, down from N445.38/$1 the previous day.
According to FMDQ Securities Exchange data, the value of forex transactions executed in the I&E window yesterday fell by $8.85 million, or 10.6 percent, to $74.72 million from $83.57 million the day before.
However, in the black market segment of the foreign exchange market, the Nigerian currency rose by N5 against the US dollar yesterday to settle at N775/$1, up from N780/$1 the previous trading session.
This bullish performance was also seen in the interbank market, where the Naira gained N1.85 against the British Pound Sterling on Tuesday to close at N523.79/£1, up from N525.64/£1 on Monday.
Similarly, the Nigerian currency gained N5.72 against the Euro yesterday, trading at N454.49/€1 versus N460.21/€1 the day before.
Meanwhile, most of the digital currencies tracked by Entreprenuerng were bullish, with Litecoin (LTC) rising 29.8 percent to $80.66.
Solana (SOL) increased by 10.4 percent to $12.88, Dogecoin (DOGE) increased by 7.8 percent to $0.0814, Binance Coin (BNB) increased by 6.9 percent to $272.99, Ethereum (ETH) increased by 5.6% to $1,161.11, Ripple (XRP) increased by 5.4% to $0.3769, Bitcoin (BTC) increased by 4.4% to $16,497.91, Cardano (ADA) increased by 4.1% to $0.3173
