Adedapo Adesanya
By Adedapo Adesanya
The value of the Naira compared with the US Dollar at the Investors and Exporters (I&E) window of the foreign exchange (FX) market on Thursday, November 25, remained unchanged at N415.07/$1 at the close of business.
This came on the back of a 59.7 per cent or $145.27 million decrease in the turnover for the trading session at the investors’ FX market as transactions worth $98.07 million were carried out in contrast to the $243.34 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 N411.64/$1 in contrast to N411.63/$1 it traded at the last trading session.
But it was a different outcome against the British Pound Sterling at the same market window, where the domestic currency appreciated by N1.14 to trade at N548.55/£1 compared to the previous N549.69/£1 and depreciated by 63 kobo against the Euro to quote at N462.07/€1 in contrast to the previous day’s exchange rate of N461.44/€1.
Meanwhile, at the cryptocurrency market on Thursday, most of the digital coins monitored by Business Post closed bullish, with Binance Coin (BNB) appreciating by 8.4 per cent to trade at N267,277.06.
Furthermore, Ethereum (ETH) went up by 3.9 per cent to sell at N2,514,184.33, Dash (DASH) added 3.6 per cent to its previous value to trade at N119,099.99, Tron (TRX) improved during the session by 3.3 per cent to sell at N57.40, Ripple (XRP) appreciated by 2.2 per cent to quote at N594.99, Bitcoin (BTC) made a 1.8 per cent gain to sell at N33,242,755.01, while Litecoin (LTC) marginally went up by 0.1 per cent to trade at N124,997.93.
On the reverse side, the United States Dollar Tether (USDT) recorded a 1.1 per cent fall to sell at N566.70, Cardano (ADA) declined by 0.8 per cent to sell at N952.14, while Dogecoin (DOGE) lost 0.6 per cent to finish at N126.60.
