By Adedapo Adesanya

The Naira further appreciated against the United States Dollar in the Nigerian Autonomous Foreign Exchange Market (NAFEX) on Monday, July 6, by N1.92 or 0.14 per cent to end at N1,368.27/$1, in contrast to the previous exchange rate of N1,370.19/$1.

The domestic currency also improved its value against the Pound Sterling in the official forex market during the session by N2.98 to trade at N1,826.91/£1 versus last Friday’s value of N1,829.89/£1, and against the Euro, it gained N5.63 to quote at N1,562.69/€1 compared with the preceding session’s N1,568.32/€1.

In the same vein, the Nigerian Naira gained N1 against the US Dollar at the GTBank FX counter during the session to close at N1,831/$1 compared with last Friday’s quoted price of N1,832/$1, and at the parallel market, it remained unchanged at N1,390/$1.

Monday’s appreciation reinforced the local currency’s relative stability witnessed in recent months under ongoing monetary and foreign exchange reforms by the Central Bank of Nigeria (CBN).

Market analysts linked the sustained improvement to stronger foreign-exchange liquidity in the official market, also citing improved investor confidence, which has supported demand and supply conditions in the FX market.

According to analysts, sustained policy measures introduced by the apex bank have continued to strengthen market transparency and price discovery.

Updated data showed the country’s gross external reserves ended the week at $51.46 billion following successive FX inflows from across multiple sources.

In the cryptocurrency market, Bitcoin (BTC) held in the low $63,000s, despite Strategy’s disclosure this week that it sold 3,588 bitcoin for about $216 million, its largest sale since abandoning its never-sell stance, which the market largely absorbed without breaking the recovery. It appreciated by 0.2 per cent to $63,069.84, while Solana (SOL) improved by 0.8 per cent to $80.94, and TRON (TRX) expanded by 0.2 per cent to $0.3295.

On the flip side,  Cardano (ADA) fell by 2.5 per cent to $0.1793, Dogecoin (DOGE) slumped by 2.2 per cent to $0.0749, Ripple (XRP) depreciated by 1.1 per cent to $1.12, Binance Coin (BNB) slid by 0.5 per cent to $578.79, and Ethereum (ETH) slipped by 0.2 per cent to $1,767.90, while the US Dollar Tether (USDT) and the US Dollar Coin (USDC) sold flat at $1.00 each.

By Dipo Olowookere

The performance indices of the Nigerian Exchange (NGX) Limited rallied by 2.15 per cent on Monday, as investors showed confidence in the market.

During the session, First Holdco gained 10.00 per cent to trade at N60.50, Wema Bank also appreciated by 10.00 per cent to N29.70, Aradel Holdings grew by 9.99 per cent to N1,403.30, NGX Group increased by 9.96 per cent to N129.75, and Veritas Kapital rose by 9.92 per cent to N1.44.

Conversely, NAHCO lost 10.00 per cent to quote at N133.65, Vitafoam Nigeria crashed by 10.00 per cent to N170.10, CAP declined by 9.99 per cent to N1.44, May and Baker depreciated by 5.25 per cent to N37.90, and Chams tumbled by 3.06 per cent to N28.12 per cent.

Business Post reports that 58 shares ended on the gainers’ chart and 14 shares finished on the losers’ table, indicating a positive market breadth index and bullish investor sentiment.

The industrial goods space chalked up 4.89 per cent, the energy index expanded by 4.22 per cent, the banking counter improved by 3.05 per cent, the insurance segment advanced by 2.70 per cent, and the consumer goods sector jumped by 0.57 per cent.

At the close of business, the All-Share Index (ASI) went up by 4937.89 points to 234,178.23 points from 229,240.34 points, and the market capitalisation moved higher by N3.168 trillion to N150.271 trillion from N147.103 trillion.

A total of 538.6 million stocks worth N38.7 billion exchanged hands in 64,065 deals during the session, in contrast to the 414.7 million stocks valued at N25.1 billion traded in 47,106 deals last Friday. This implied that the trading volume, value, and number of deals grew by 29.90 per cent, 54.18 per cent, and 36.00 per cent, respectively.

Zenith Bank was the most active stock on Monday with a turnover of 89.5 million units worth N9.8 billion, GTCO transacted 42.5 million units for N5.4 billion, Fidelity Bank exchanged 35.8 million units valued at N636.4 million, Access Holdings sold 31.0 million units worth N721.0 million, and Jaiz Bank traded 16.6 million units for N133.4 million.

Crypto exchange is no longer limited to familiar pairs involving the U.S. dollar or the euro. When the goal is specific, e.g., buying USDT with a local currency, receiving an international transfer, or cashing out Bitcoin to a bank account, local fiat currencies take centre stage. The Nigerian naira, or NGN, and the Vietnamese dong, or VND, are excellent examples of this trend. Demand for these currencies is driven not by speculation, but by people solving everyday financial needs.

Why Local Currencies Are Becoming More Important in Crypto Exchange

Across developing markets, cryptocurrency adoption is accelerating where traditional financial infrastructure is slow, expensive, or limited. High international transfer fees, volatile exchange rates, and lack of access to foreign currencies have made digital assets an efficient bridge between local and global financial systems.

Between July 2024 and June 2025, the volume of on-chain cryptocurrency transactions in Sub-Saharan Africa exceeded $205 billion, representing approximately 52% year-over-year growth. Transactions below $10,000 accounted for 8% of total volume, compared with roughly 6% globally, indicating that demand extends well beyond stablecoins such as USDT and USDC. In Southeast Asia, meanwhile, crypto adoption is fueled primarily by the digital economy, cross-border commerce, e-commerce, and high retail participation.

NGN: Why Nigeria Has Become One of the World’s Leading Crypto Markets

Following Nigeria’s currency reforms in 2023–2024, the naira depreciated significantly. Access to U.S. dollars remained limited, while the gap between official and market exchange rates widened. As a result, Bitcoin and stablecoins evolved from investment assets into practical tools for payments and savings and drove a demand for USDT to naira exchanges, as well as Bitcoin to naira conversions.

The numbers illustrate the dynamic. In 2023, Nigeria ranked first globally in the peer-to-peer (P2P) cryptocurrency trading sub-index. In 2024, it climbed to second place in the Global Crypto Adoption Index. During the twelve months ending June 2025, Nigeria’s cryptocurrency transaction volume exceeded $92.1 billion—nearly three times that of South Africa.

Demand patterns are equally impressive. Approximately 89% of cryptocurrency transactions in Nigeria are naira to BTC conversions, excellent rates for which can be found on BestChange, on a dedicated page with NGN to Bitcoin exchange offers. Around 80% of surveyed Nigerians already own stablecoins, while 95% said they would prefer receiving payments in stablecoins rather than in naira. Since 2019, Nigeria has accounted for roughly 60% of all stablecoin inflows into Sub-Saharan Africa. On BestChange, users can also compare offers for exchanging NGN to USDT TRC20, including, as well as the reverse direction, i.e. purchasing naira with crypto—such as BTC to naira or, for example, offers with rates for converting TRX to naira.

International remittances add another major source of demand. In 2024, remittance inflows reached $20.93 billion. While bank transfers cost an average of 15% of the transferred amount, comparable transfers using stablecoins were approximately 60% cheaper.

The legal landscape is also evolving. In 2025, virtual assets were formally brought under Nigeria’s regulatory supervision, while pressure on unregulated platforms increased. Due to this, trusted exchange routes and reputable providers are becoming increasingly important for the crypto exchange market.

VND: Why Vietnam Remains Among the Global Leaders in Crypto Adoption

Vietnam paints a different picture. Unlike Nigeria, it faces no major currency instability, yet it has one of the world’s most active retail cryptocurrency markets. In 2025, the country ranked fourth in the Global Crypto Adoption Index, maintaining a top-five position for several consecutive years. Crypto transactions exceeded $200 billion in total during the twelve months ending June 2025.

Two factors consistently drive demand for crypto exchanges with dong: international remittances and Vietnam’s rapidly expanding digital economy. During 2024–2025, annual remittance inflows exceeded $16 billion, creating steady demand for converting foreign assets into Vietnamese dong.

Users looking to cash out can exchange USDT to VND (TRC20 network) or convert crypto from another network, e.g., USDT (ERC20) to Vietnamese dong. The flagship cryptocurrency exchanges are also available in the list of offers for Bitcoin to VND conversions. Those moving in the opposite direction can compare offers to convert VND to USDT (TRC20) or dong to USDT (ERC20) on BestChange.

Vietnam’s e-commerce market has also grown to approximately $32 billion, generating additional demand for fast and efficient payment solutions.

Additionally, crypto regulation is gradually becoming more structured. Beginning in January 2026, Vietnamese authorities started accepting license applications from cryptocurrency platform operators, followed by the launch of an accelerated regulatory pilot program later that spring.

How BestChange Helps Find NGN and VND Exchange Offers

In emerging markets, evaluating an exchange route means looking beyond the exchange rate alone. The cryptocurrency, blockchain network, payout method, available reserves, transaction limits, and service reputation all matter.

BestChange allows users to compare these factors before sending funds. For each exchange direction, you can instantly view offers from verified exchange services, including exchange rates, reserves, limits, payout methods, and—perhaps most importantly—reviews from other users.

Before sending cryptocurrency, it is also recommended to check the wallet addresses involved using an AML analyzer to reduce compliance risks.

NGN and VND are no longer niche markets. They support real-world financial needs, including international transfers, everyday payments, and holding part of one’s savings in stablecoins.