Adedapo Adesanya
This was a mixed bag of naira in the peer-to-peer (P2P), black market, investors and exporters (I&E) sectors of the foreign exchange (FX) market on Friday 14th April.
The data showed that the domestic currency closed strongly against the dollar in the first two market segments, but weakened in the third market window.
In the P2P category of the forex market, the local currency’s value strengthened against the American currency yesterday by N2 as it closed at N748/$1 compared to yesterday’s N750/$1 value.
Also in the parallel market, the Nigerian Naira against the US dollar closed at N740/$1 compared to Thursday’s exchange rate of N742/$1.
However, on the official market, the local currency was N1.17 or N1. 17 or 0.25% down.
FMDQ stock exchange data showed FX trading volume for the session was $62.16 million, down 52.7% or $69.17 million from the previous day’s $131.33 million.
In the interbank segment, the naira’s exchange rates against the pound sterling and the euro were unchanged on Friday at N571.92/£1 and N503.57/€1 respectively.
In the cryptocurrency market, Bitcoin (BTC) fell 1.2% to $30,426.90, Ethereum (ETH) fell 1.4% to $2,088.25, Solana (SOL) fell 4.4% to $24.18, and Ripple (XRP) dropped 4.4% to $24.18. Recorded. Down 3.7% to trade at $0.52, Litecoin (LTC) dropped 2.7% to settle at $95.72.
Additionally, Dogecoin (DOGE) dropped 1.9% to $0.089, Binance Coin (BNB) dropped 1.8% to $329.09, and Cardano (ADA) dropped 0.4% to $0.4407. Tether (USDT) and Binance USD (BUSD) closed flat at $1.00 each.
