By Adedapo Adesanya
The Naira lost 30 kobo or 0.06 per cent against the American Dollar at the Investors and Exporters (I&E) segment of the foreign exchange (FX) market on Thursday.
The Nigerian Naira was traded at the investors’ window yesterday at N415.10/$1 in contrast to N414.80/$1 it was transacted at the previous session.
The Nigerian currency recorded this poor performance despite the turnover for the trading session declining as trades valued at $129.54 million were carried out at the market segment.
At the midweek session, the value of transactions stood at $133.37 million, indicating that the session’s turnover went down by 2.9 per cent or $3.83 million.
However, the local currency halted its downward movement against the American currency at the interbank segment of the market on Thursday.
This was because the nation’s legal tender closed flat at N411.24/$1 at the close of business.
But against the Pound Sterling, the domestic currency lost 8 kobo at the market window to trade at N561.71/£1 compared to the previous rate of N561.63/£1 and against the Euro, it depreciated by 70 kobo to sell for N476.59/€1 in contrast to N475.89/€1 it was sold a day earlier.
At the cryptocurrency market, the bears took control, causing nine of the 10 digital coins monitored by Business Post to close in their domain.
Litecoin (LTC) depreciated by 7.1 per cent to trade at N110,476.57, Dash (DASH) lost 4.4 per cent to sell at N110,000.00, Ripple (XRP) went down by 4.2 per cent to settle at N663.25, while Cardano (ADA) declined by 2.9 per cent to close at N1,174.25.
Further, Dogecoin (DOGE) dropped 2.4 per cent to sell at N155.50, the US Dollar Tether (USDT) recorded a 0.9 per cent loss to quote at N563.01, Bitcoin (BTC) lost 0.6 per cent to trade at N34,706,231.82, Ethereum (ETH) fell by 0.2 per cent to sell at N2,521,000.05, while Tron (TRX) declined by 0.2 per cent to finish at N58.97.
However, Binance Coin (BNB) recorded a 0.3 per cent growth on Thursday to end at N228,040.44.
