By Tolulope Oke
The Nigerian Naira still maintains a flat rate against the US Dollar at an exchange of N415.9, according to the Central Bank of Nigeria’s (CBN) official foreign exchange segment.
The local currency and its counterpart have maintained this pace since the previous week, and prior to that, the currencies were exchanged at N415.83/$1 which indicated a change of 0.02 per cent .
According to the official Investors & Exporters Window (I&E), the Naira appreciated against the US Dollar. The currency was traded at N424. 17/$1, as against the previous trading session that was concluded at N429/$1.
This implies the local currency appreciated at a change of 1.16 per cent against its counterpart, the American currency.
- READ ALSO: Dollar To Naira Exchange Rate July 19, 2022
In like manner, the pressure of demand for the US currency has reduced on the black market as Dollars are traded between N595 – N615, as against N618 it was sold for on Monday.
On a bright scale, the digital currencies have all shown a positive increase in value in the last 24 hours.
Bitcoin (BTC) recorded 8.64 per cent change in the past one day to be sold at $23,534.18, while Ethereum (ETH) goes for $1,546.89, inclining a change of 1.93%. Binance (BNB) on the other hand is currently sold for $268.55 a coin, a change of 4.01 per cent in the past 24 hours.
Cami Ezenwa is a Writer, Editor, Publicist, Biographer and Journalism Trainer
He has worked with the Daily Times, Daily Independent, Financial Standard and Business Television to mention some.
His ongoing Corporate Communications Master Class training series equips learners with credible hands-on skills for effective Media Relations, Public Communications & Corporate Affairs amongst others.
He can be contacted via 09165809519 or 08180335778.