Adedapo Adesanya
By Adedapo Adesanya
The Naira recorded no movement against the American Dollar at the Investors and Exporters (I&E) segment of the foreign exchange (FX) market, remaining at N416/$1 on Wednesday, February 23.
This occurred as the value of FX transactions at the special market window depreciated by 36.4 per cent or $50.59 million. At the close of trades, the turnover for the session stood at $88.36 million compared with the $138.95 million recorded at the previous session.
Also, the domestic currency traded flat against the Pound Sterling to remain intact at N564.58/£1 and against the Euro, the Nigerian Naira closed flat at N472.64/€1.
It was a similar situation at the Peer-2-Peer (P2P) forex window as the Naira showed no movement against the United States Dollar, trading at N573/$1.
However, the digital currency closed mixed yesterday with five of the 10 tokens tracked by Business Post across several trading platforms closing bearish.
Ripple (XRP) recorded the highest loss as it dropped 1.7 per cent to trade N424.03, followed by Dash (DASH) which slid by 1.4 per cent to trade at N52,575.75.
In addition, Dogecoin (DOGE) fell by 1.4 per cent to sell at N76.48, Bitcoin (BTC) posted a 1.1 per cent loss to quote at N21,549,185.55, while Binance Coin (BNB) dropped 0.9 per cent to sell for N153,429.04.
On the gainers’ end, Litecoin (LTC) recorded a 1.2 per cent appreciation to trade at N63,460.08, Solana (SOL) added 0.6 per cent to its value to trade at N51,303.46, Ethereum (ETH) saw its value rise by 0.5 per cent to sell at N1,509,776.92, Cardano (ADA) made a 0.4 per cent rise to sell at N524.63, while the United States Dollar Tether (USDT) moved up by 0.1 per cent to trade at N587.87.
