By Adedapo Adesanya
The Nigerian currency traded flat against the American Dollar at the parallel market, Peer-to-Peer (P2P), and the Investors and Exporters (I&E) windows of the foreign exchange (FX) market on Wednesday, November 28.
Data showed that in the midweek session, the Naira was traded against the Dollar at N810/$1 in the peer-to-peer market and in the black market, it was stable at N810/$1 against the greenback.
Also, in the Nigerian Autonomous Foreign Exchange (NAFEX) category, the value of the domestic currency remained unchanged against the Dollar at N446.67/$1, amid a 1.8 per cent or $1.52 million increase in the value of forex trades recorded in the market window at $86.41 million compared with the preceding day’s $84.89 million.
In the interbank segment, the Naira depreciated by N5.08 against the British Pound Sterling to close at N525.28/£1, in contrast to the preceding day’s N520.28/£1, and against the Euro, it lost N6.04 to sell at N460.66/€1 compared with Tuesday’s N454.62/€1.
As for the digital currency market, the majority of the tokens crashed, with Cardano (ADA) shelling 4.1 per cent to trade at $0.3296, and Ethereum (ETH) shedding 3.9 per cent to sell at $1,207.98.
Binance Coin (BNB) dropped 3.2 per cent to quote at $269.85, Litecoin (LTC) slid by 3.2 per cent to trade at $57.66, Dogecoin (DOGE) saw a 2.7 per cent slump to trade at $0.0853, Bitcoin (BTC) shed 2.2 per cent to close at $16,545.79, Solana (SOL) fell by 1.7 per cent to $14.22, and Ripple (XRP) recorded a 1.2 per cent drop to trade at $0.3823.
Meanwhile, the US Dollar Tether (USDT) recorded a 0.02 per cent appreciation to sell for $0.0994, while Binance USD (BUSD) retained its recent pared level of $1.00.
Modupe Gbadeyanka