By Tolulope Oke
According to the Peer 2 Peer morning trading session, today, Tuesday, August 16th, Dollar to Naira exchange rate is N676.71/$1. The local currency’s value to the US dollar dipped from N700 last week to N676.
In the parallel market, which is also the black market, Naira is exchanged at N676.38 against the US Dollar in Lagos.
At the official trading Investors and Exporters segment (FMDQ), Naira commenced the day at N429.70 to close its session at N430/$1. As against Friday’s trading session which ended at N429.62/$1 Naira incurred a change of 0.09 per cent against the American Dollar.
Meanwhile, at the official Central Bank of Nigeria (CBN) official trading segment, Naira has maintained a flat rate against the Dollar, Pounds Sterling, and Euros since the 12th of August. Naira is purchased at N418.89/$1, and it is sold at N419.89/$1, against the Pounds (GBP), Naira is bought at N508.7419 against 1GBP while traded for N509.9564, while against EURO, Naira is sold at N431.8989.
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The digital currencies on the other hand continued with their bearish/bullish run with Ethereum recording the largest decline in value over the course of 24 hours of trading.
Bitcoin (BTC) recorded a 1.16 percent change in the past 24 hours to be sold at $24,023.21 a coin, Ethereum (ETH) recorded 16.97 indicating a 0.89 percent change in the past 24 hours to be sold at $1,881.04 a coin, while Binance (BNB) records a bullish of 0.15 per cent to be sold at $317.19 a coin.
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