Dollar To Naira Exchange Rate, Today 7th September, 2022

By Tolulope Oke

In the black market segment, currency traders in Lagos slated Dollar to Naira Exchange rate, today 7th of September at N702/$1.

The currency remained flat when compared to the value it was exchanged at this time in the previous trading session.

In the official Investors and Exporters market, the local currency closed at 436.00/$1 yesterday, indicating a depreciation in value to 0.29 per cent compared to 434.75/$1 it commenced the week.

Data from the FMDQ shows the FX turnover was $63.05 million, $36.63 million or 36.7 per cent lower than the $99.68 million reported in the preceding session.

In the peer-to-peer currency trading segment, The Eagle observed Naira further dipped as it traded at N706.30/$1 against N706.01/$1 it exchanged this time yesterday.

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The same applies in the official Central Bank of Nigeria’s (CBN) forex segment, as the local currency was traded at N426.61/$1 compared to  N426.28/$1 it traded on Monday, indicating the foreign currency gained 0.08 per cent against the Naira.

The update on the digital currencies are:

The price of Litecoin (LTC) fell by 9.6% to close at $54.34, the price of Ethereum (ETH) fell by 8.2% to close at $1,519.58, the price of Cardano (ADA) fell by 7.8% to close at $0.4649, the price of Dogecoin (DOGE) fell by 6.4% to $0.0592, the price of Binance Coin (BNB) fell by 5.6% to close at $264.49, the price of Solana (SOL) fell.

However, by the end of trading, the Binance USD (BUSD) and US Dollar Tether (USDT) prices were at $1.00.