By Tolulope Oke
In the Peer-to-peer (P2P) currency trading source, Dollar to Naira exchange rate commenced trade at N722.92/$1 today, 27th September 2022. Traded at the N730/$1 this same time yesterday, the Naira gained by N8.
Meanwhile, in the NAFEX segment, the local currency pulled a bullish movement by 0.08 per cent to close at N430/$1 yesterday compared to N436.33/$1 it traded on Friday.
According to information from FMDQ Securities Exchange, the forex turnover was $78.10 million on Monday, $28.01 million or 26.4 percent less than the previous session’s $106.11 million.
The unregulated trading sector (black market) sources reveal trade remained flat to sell at N721/$1 – the same value it commenced on Monday.
In the Apex bank forex sector, the local currency slumped by 0.08 per cent yesterday to settle at 431.83/$1 against N431.09/$1 it traded on Friday.
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When we look at the whole month, we see that USD to Naira exchange rate was ₦424.92 on Thursday, September 01, 2022 at the beginning of September. With Dollar rate set at ₦431.83 now, we see a 1.63% rise for USD to Naira exchange rates in CBN for this September.
Seven out of the ten tracked tokens were up, signaling a rise in the cryptocurrency market as investors sought refuge in riskier assets.
Solana (SOL), increased by 7.8% to close at $34.67, Ethereum (ETH) increased by 6.8% to close at $1,378.95, Bitcoin (BTC) increased by 6.7% to $20,044.45, Litecoin (LTC) increased by 3.8% to reach $54.80, Cardano (ADA), increased by 3.4% to close at $0.4568, and Dogecoin (DOGE) increased by 2.0% to close at $0.0622.
Cami Ezenwa is a writer, editor and concepts developer. He has worked with the Daily Times, Daily Independent, Financial Standard and Business Television, to mention a few.
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