Godwin Emefiele, Governor of Central Bank of Nigeria,
Naira to Dollar rate unchanged at N411.50/$1 at I&E window, rises to N508/$1 at parallel market
While the exchange rate of the Naira to the United States Dollar remained unchanged at its previous value, the situation at the parallel or black market saw the local currency gaining by N2, representing an increase by same amount recorded at close of Tuesday’s business.
At the black or parallel market trading the Naira has appreciated against the Dollar by N2 to sell for N506/$1 in contrast to N508/$1 at the preceding trading activity.
Parallel or black market traders sold the Dollar to customers at between N508/$1 and N506/$1, Wednesday, with the rate dropping by close of the by the end of the day’s business activities.
The rise also represents a fifth straightupward movement of the naira against the Dollar at the parallel market.
At the market Wednesday, the Naira also appreciated against the Euro by N3, closing at N595/€1 in contrast to N598/€1 it sold at the unregulated market on Tuesday and against the Pound Sterling, it closed flat at N705/£1.
At the Investors and Exporters (I&E) window, the value of the local currency compared with the US Dollar remained unchanged at N411.50/$1 despite a rise in the turnover by $11.75 million or 10.2 per cent to $126.92 million from the previous day’s $115.17 million.
At the interbank segment, the Nigerian currency also closed flat against the U.S Dollar on Wednesday at N410.11/$1.
Meanwhile, at the cryptocurrency market, five out of the seven digital coins tracked by Business Post appreciated, with Bitcoin (BTC) growing by 4.9 per cent to close at N20,865,321.26.
Ethereum (ETH) made an 8.9 per cent surge to close at N1,348,158.83, Litecoin (LTC) rose by 5.6 per cent to trade at N72,000.00, Tron (TRX) recorded a 2.0 per cent rise to sell at N33.60, while Dash (DASH) appreciated by 0.1 per cent to sell at N76,002.10.
