By Tolulope Oke
The American Dollar to Nigerian Naira exchange rate for today, the 17th of August is set at N681 according to the P2P sources.
The increased surge in demand boosted the US Dollar’s value by N2 against the local currency, as the previous Peer 2 Peer session ended at N679/$1.
On the black market, which is also the unregulated trading segment, the USD is purchased at N674/$1 to be exchanged at N680/$1.
On the other hand, the Naira recorded a 0.16 per cent change at the official Investors and Exporters trading session (FMDQ) since the last trading session. The Naira was traded for N430.67/$1, as against Monday’s trade which ended at N430/$1.
In the official Central Bank of Nigeria (CBN) trading session, Naira goes for N420.46/$1, against the sustained flat rate of N419.89 since the 12th of August, recording a decline of N0.57 in value against the American currency.
- READ ALSO: Dollar To Naira Exchange Rate Today, August 16th 2022
- READ ALSO: Dollar To Naira Exchange Rate 11th August, 2022
In the meantime, the cryptocurrency market saw a recovery as nine out of the ten monitored tokens pointed upward, with Dogecoin (DOGE) rising by 8.9% to trade at $0.0865.
Litecoin (LTC) appreciated by 5.6 per cent to sell at $63.88, Ripple (XRP) recorded a 4.4 per cent gain to quote at $0.3879, Cardano (ADA) recorded a 3.9 per cent increase to settle at $0.5751, while Shiba Inu (SHIB) added 2.7 per cent to close at $0.00001635.
In addition, Solana (SOL) appreciated by 1.9 per cent to sell at $44.07, Ethereum (ETH) saw its value go up by 1.4 per cent to $1,901.79, Binance Coin (BNB) recorded a 0.7 per cent appreciation to trade at $3
19.12, Bitcoin (BTC) jumped by 0.3 per cent to sell at $24,068.32, while the US Dollar Tether (USDT) retained its stability at $1.00
Cami Ezenwa is a Writer, Editor, Publicist, Biographer and Journalism Trainer
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