Adedapo Adesanya
By Adedapo Adesanya
The local currency appreciated by 12 kobo or 0.03 per cent against the United States Dollar at the Nigerian Autonomous Foreign Exchange Rate Fixing (NAFEX) segment of the foreign exchange (FX) market.
At the specialised market segment, which is called the Investors and Exporters (I&E) window, the Nigerian currency was traded at N414.98/$1 as against N415.10/$1 it was sold at the previous session, which was last Friday.
According to data tracked yesterday on the FMDQ Securities Exchange, the value of transactions recorded at the market window stood at $160.64 million.
This showed that the turnover for the trading session climbed by 71.4 per cent or $66.93 million when compared with the value of transactions recorded at the preceding session, which stood at $93.71 million.
But at the interbank segment of the forex market, the domestic currency continued to witness a downward movement against the American currency.
During the trading session, the Naira depreciated by 8 kobo or 0.02 per cent against the American Dollar to sell for N411.17/$1 on Monday in contrast to N411.09/$1 it traded at the last trading session.
At the same market window, the Naira lost N1.33 against the Pound Sterling to trade at N566.62/£1 versus N565.29/£1 of the preceding session, while against the Euro, it depreciated by N1.96 to sell for N478.68/€1 compared with the preceding session’s N476.67/€1.
Meanwhile, at the cryptocurrency market, six of the 10 tokens tracked by Business Post across several trading platforms depreciated.
Litecoin (LTC) appreciated by 1.2 per cent to trade at N111,630.49, Binance Coin (BNB) gained 3.7 per cent to trade at N222,731.15, Dash (DASH) recorded a 0.8 per cent appreciation to N106,955.20, while the United States Dollar Tether rose by 0.1 per cent to trade at N569.82.
However, Dogecoin (DOGE) lost 2.0 per cent to sell at N162.37, Ripple (XRP) depreciated by 1.5 per cent to finish at N609.91, Cardano (ADA) fell by 1.3 per cent to settle at N1,158.99, Tron (TRX) went down by 1.1 per cent to N55.80, Bitcoin (BTC) fell by 0.5 per cent to sell for N34,487,888.58, while Ethereum (ETH) declined by 0.4 per cent to finish at N2,401,000.01.
