See New Exchange Rate As Naira Falls Massively At P2P FX

See New Exchange Rate As Naira Falls Massively At P2P FX

At the official Investors and Exporters (I&E) window, the dollar to naira exchange rate between the Nigerian and US currencies was N416.67/$1.

According to this online news portal, the dollar to naira exchange rate at the I&E window depreciated by 0.04 percent on Thursday, closing at N416.67 to a dollar, up from N416.5/$1 the day before.

The exchange rate has fallen by 0.12 percent from N416/$1 in the previous trading session.

On Friday morning, the Naira depreciated 1.1 percent in the Peer-to-Peer (P2P) market, trading at N581.2/$1, down from N575/$1 in the previous three trading sessions.

On the other side, the dollar to naira exchange rate on the parallel market increased by 0.52 percent to settle at N577/$1 from N580/$1 on Wednesday, March 9th, 2022. According to information acquired from BDC operators, this is the case.

Read More: Black Market Dollar To Naira Exchange Rate Today 11th March 2022

Trading At The Official NAFEX Window

Touchaheart reports that the dollar to naira exchange rate at the Investors and Exporters window closed at N416.5/$1 on Wednesday, 9th March 2022, a 0.12% depreciation from N416 to a dollar recorded on Tuesday.

• The opening indicative rate closed at N416.1/$1 on Thursday, representing an 11 kobo appreciation compared to the N416.21/$1 recorded on Wednesday, 9th March 2022.
• An exchange rate of N444/$1 was the highest rate recorded during intra-day trading before it settled at N416.67/$1, while it sold for as low as N410/$1 during intra-day trading.
• It is worth noting that information on the daily forex turnover at the Investors and Exporters window has not been available on the official exchange rate source (FMDQ).

 

Crypto Market Update

Bitcoin, the world’s most valuable crypto asset, started on a downturn on Friday, 11th March 2022 with a 1.8% price decline as of press time to trade at $38,739.84 triggering a 1.49% decline in the industry market capitalization as investors $26.1 billion in the early trading hours.

Similarly, Ethereum also followed in the same direction with a 1.54% decline to trade at $2,568.4, while Solana dipped by 1.8% to trade at $81.4. Similarly, Terra dipped 5.65% to trade at $95.52 while Uniswap followed with a 0.12% decline to trade at $8.67.

Meanwhile, Touchaheart Nigeria reports that the cryptocurrency exchange founded by Africans, Quidax has announced its listing on CoinMarketCap, one of the world’s leading sources of cryptocurrency-related market data, becoming the first fully African owned crypto exchange to be listed on CoinMarketCap.