Dollar To Naira Rate Today, 13th October

By Tolulope Oke

Dollar To Naira exchange rate today, 13th October 2022 remained flat at the parallel market otherwise known as the black market to sell at N738.

This is according to currency traders in Lagos.

On Wednesday, the Naira strengthened against the US dollar at the Investors and Exporters (I&E) window of the foreign exchange (forex) market by 50 Kob or 0.11 percent, trading at N440.67/$1 as opposed to N441.17/$1 the day before.

Despite an increase in the value of transactions, the availability of FX during the session helped to support the appreciation. In comparison to the previous day’s $73.66 million in FX deals, the midweek session saw $95.39 million in trades, a decrease of 29.5 percent or $21.73 million.

Meanwhile, the local currency remained flat in the peer-to-peer currency exchange segment to trade at N738.21 this morning, the same rate it traded this time yesterday.

In the CBN currency exchange rate segment, the Naira slumped by 10 per cent yesterday to settle at N435.7 as against N435.27 it commenced trade on Tuesday.

• READ ALSO: Dollar To Naira Rate Today, 11th October, 2022
• READ ALSO: Naira To Dollar Today, 12th October, Falls Across Fx Market

Investors in the cryptocurrency market encroached carefully on worries about a worldwide recession, with Cardano (ADA) registering a 5.2% decline to sell at $0.3718.

Dogecoin (DOGE) dropped 2.5% to trade at $0.0588, Solana (SOL) decreased by 1.8% to sell at $30.58, Binance Coin (BNB) saw a 0.1% decline to quote at $268.95, and Litecoin (LTC) saw a 0.8% decline to trade at $51.83. Ripple (XRP) saw a 3.2% decline to trade at $0.4709, Dogecoin (XRP) lost 2.5% to trade at $0.

Additionally, the price of Ethereum (ETH) decreased by 0.4% to sell at $1,284.68, the price of Binance USD (BUSD) down by 0.1% to trade at $0.9994, and the price of Bitcoin (BTC) only decreased by a negligible 0.2% to sell at $19,075.78.

But yesterday, the price of the US Dollar Tether (USDT) stayed the same at $1.