Dollar To Naira Exchange Rate July 20, 2022

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.

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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.