By Adedapo Adesanya
The Naira ended in a stalemate against the US Dollar at the Investors and Exporters (I&E) window of the foreign exchange (FX) market on Monday, November 15, retaining its previous rate of N415.10/$1 at the close of business.
This came despite a 52.6 per cent or $47.67 million increase in the turnover for the trading session as transactions worth $138.37 million were carried out compared with the $90.70 million executed at the previous trading day.
However, at the interbank segment of the market, the Naira recorded a marginal loss of one kobo against the US Dollar yesterday to trade at N411.43/$1 in contrast to N411.42/$1 it traded at the last trading session.
In the same vein, the domestic currency depreciated by eight kobo against the British Pound Sterling to trade at N551.3/£1 compared to the previous N551.22/£1 but appreciated by 83 kobo against the Euro to quote at N471.08/€1 in contrast to N471.91/€1.
Meanwhile, at the digital currency market, the bears still maintained their tight grip on the ecosystem as seven of the 10 key cryptos tracked by Business Post depreciated in value at the close of transactions.
Ethereum (ETH) depreciated by 3.6 per cent to sell at N2,466,089.98, Dash (DASH) also slid 3.6 per cent to trade at N124,000.04, while Bitcoin (BTC) went down by 3.0 per cent to settle at N34,598,200.07.
In addition, Binance Coin (BNB) recorded a 1.8 per cent loss to trade at N261,670.95, the United States Dollar Tether (USDT) made a 1.6 per cent fall to sell at N546.48, Dogecoin (DOGE) made a 1.5 per cent slide to finish at N155.23, while Cardano (ADA) declined by 0.3 per cent to sell at N1,203.64.
On the flip side, the value of Tron (TRX) increased yesterday by 3.9 per cent to sell at N64.54, Ripple (XRP) appreciated by 0.9 per cent to N647.39, while Litecoin (LTC) rose by 0.5 per cent to trade at N147,336.68.
Dipo Olowookere