By Tolulope Oke
Dollar to Naira exchange rate today 24th of August 2022 is set at N690/$1 according to the unregulated market (black market) traders in Lagos.
The Naira remained flat since the concluding trading session at the parallel market ended in the same figures.
In the Investors and Exporters Window (FMDQ), the local currency further depreciated against the USD by 0.29 per cent as Naira concluded the trading session at N430.67/$1, as against the previous day’s segment at N429.07/$1.
The opening indicative rate reached N429.07/$1, matching the value from the previous trading session. It also moved as low as N417/$1 during intraday trading, with the highest rate during intraday trading reaching N444/$1 before it ended at N430.67/$1.
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FX value was transacted for a total of $175.67 million on Tuesday, an increase of 8.48% over the $161.94 million that changed hands on August 21st, 2022.
In the peer-to-peer segment, this morning’s trade is exchanged at N694.03/$1, reflecting a bullish movement for the local currency as the concluding segment closed at N695.80/$1.
The currency segment on the official Central Bank of Nigeria (CBN) on the other hand records a bearish movement for the local currency. Naira was exchanged at N422.08/$1 against the N421.71 it traded previously, indicating a 0.07 per cent appreciation for the foreign currency.
For the crypto market, all but the Bitcoin continued the bullish movement.
Bitcoin (BTC) depreciated in value by 0.4% to close at $21,327.23, Solana (SOL) increased in value by 1.5% to close at $34.89, Binance Coin (BNB) recorded an increase in value of 0.9% to close at $297.47, Dogecoin (DOGE) increased in value by 0.8% to close at $0.0678, and the US Dollar Tether (USDT) increased in value by 0.1% to close at $1.00 on August 22, 2022.
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