By Adedapo Adesanya
The value of the Naira compared with the American Dollar appreciated at both the Peer-to-Peer (P2P) and Investors and Exporters (I&E) windows of the foreign exchange (FX) market on Thursday.
In the P2P segment, the local currency was strengthened by 0.17 per cent or N1 to sell at N586/$1 in contrast to the previous day’s value of N587/$1.
At the investors’ window, the domestic currency appreciated by 83 kobo or 0.2 per cent to close at N418.50/$1 compared with the N419.33/$1 it was sold on Wednesday.
The Nigerian Naira continued to mount pressure on the British Pound Sterling and the Euro at the spot market as it appreciated against the former by N5.45 to sell at N517.08/£1 compared with the preceding session’s value of N522.53/£1 and gained N3.58 against the latter to finish at N436.29/€1 compared with the previous day’s exchange rate of N439.87/€1.
Meanwhile, at the cryptocurrency market, six of the 10 cryptos tracked by Business Post across the various exchanges around the world closed positive, with Binance Coin (BNB) recording a 3.7 per cent gain to trade at N243,419.
Litecoin (LTC) logged a 2.8 per cent appreciation to sell at N62,223.97, Ethereum (ETH) saw its value rise by 1.4 per cent to N1,707,495.92, Bitcoin (BTC) made a 1.3 per cent increase to quote at N24,019,480, Dash (DASH) went higher by 1.1 per cent to sell for N57,149.32, while Cardano (ADA) made a 0.1 per cent rise to sell at N510.10.
On the other hand, Dogecoin (DOGE) posted a loss of 2.0 per cent to trade at N81.72, Ripple (XRP) went south by 1.4 per cent to finish at N421.77, Solana (SOL) slid by 0.8 per cent to N57,665.65, while the United States Dollar Tether dropped 0.1 per cent to sell for N600.99.
Modupe Gbadeyanka