Dollar To Naira Exchange, Today 5th October

By Tolulope Oke

Dollar to Naira exchange today, 5th October 2022 maintains N740 in the parallel market (black market) currency segment.

This is according to currency traders in Lagos.

In the Investors & Exporters (I & E) Window, the local currency maintained stable to trade at N437.03 against the American currency. The rate has been constant since the 30th of September, with $45.89 million exchanged, a significant decrease from the $223.3 million that was moved the session before.

On the other hand, the naira measured a substantial 2.77% improvement this morning in the cryptocurrency peer-to-peer FX market, trading at a minimum of N716.4/$1, as opposed to N736.8/$1, transacted at the same time on Friday, September 30th, 2022.

• READ ALSO: Dollar To Naira Today, 3rd October, 2022
• READ ALSO: Dollar To Naira Today, 30th September

According to the Central Bank of Nigeria (CBN), the suggested exchange rate for the US dollar is 432.87 as of today. On Monday, September 26, 2022, the initial USD rate was recorded as being 431.83. This translates to a 0.24% gain in USD since last week in CBN.

Meanwhile, in the crypto space, only Bitcoin, Bitcoin Cash, and Ripple measured a bullish movement ,while the remaining coins all recorded downwards.

Ethereum (ETH) fell by 0.27% to trade at $1,345.22, Litcoin (LTC) slumped by 0.57% to sell at $54.34,  IOTA fell by 1.29% to sell at $0.2758, ADA fell by 0.39% to trade at $0.429, and DSH slumped by 0.12% to sell at $41.8.

On the other hand, Bitcoin (BTC) jumped by1.00% to close at $20,136.6, Bitcoin Cash (BCH) appreciated by 1.60% to trade at $120.9 and Ripple (XRP) jumped by 3.91% to sell at $0.4785.