Breaking: Dollar To Naira Crashes At Official and P2P Market, See New Exchange Rate

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Dollar to Naira Black Market Exchange Rate Today , Black Market Dollar To Naira Exchange Rate Today Naira to Dollar

Naira to Dollar  has fallen at the official and P2P market, See New Exchange Rate below.

 

Ejes Gist News reports that the exchange rate between the naira and the US dollar at the official Investors and Exporters (I & E) window closed at ₦416.38/$1 on Tuesday after opening at ₦415.29

 

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Ejes Gist News had previously reported that the   began the week with a loss against the US dollar, closing at ₦416.38/$1 on Monday, a 0.09 percent depreciation from the previous trading session’s ₦416/$1.

Read Also : Black Market Dollar To Naira Exchange Rate Wednesday, 26 January 2022

In the meantime, forex turnover on the official market fell by 3.9 percent to $136.9 million on Saturday, compared to $142.42 million on Friday.

 

In a similar vein, the exchange rate on the P2P market fell by 1.04 percent on Tuesday morning, trading at a low of N585.5/$1 compared to N579.5/$1 at the close of trading on Monday.

 

Meanwhile, the naira fell 0.18 percent to N571/$1 in the parallel market, after remaining stable at N570 to a dollar for the previous three trading sessions. This is according to information obtained by Ejes Gist News from BDC operators.

 

Nigeria’s foreign reserve fell by $31.6 million to $40.31 billion on January 21, 2022, representing a 0.08 percent decrease from the previous day’s figure of $40.35 billion.

Meanwhile, In a difficult month for the market, Bitcoin, Ethereum, and Dogecoin regained their footing, while Terra and Cardano failed to do so, falling down the hills.

BTC surged 0.97 percent out of the bearish zone in the last 24 hours, rising to $36,906.31. It had traded hands at a low of $35,730.45 and a high of $37,544.20 during the same time period.

Also Read : Dogecoin, Bitcoin, ETH halt losing streak, as Cardano, Terra plunge

Ethereum, the second most popular cryptocurrency, followed a similar path, rising 0.81 percent between Tuesday and early Wednesday to sell for $2,453.31.

ETH reached a high of $2,508.06 in the crypto market on Tuesday, but it later fell to $2,351.91 before rising to $2,453.31 on Wednesday morning.

 

Dogecoin’s market price rose to $0.14 per coin during the same 24-hour period, up 5.04 percent, after initially trading at $0.15, only to nosedive to $0.13, then shoot for the moon again.

However, while the aforementioned cryptocurrencies were soaring, Terra Luna was plummeting, losing 4.80% of its value as investors sold off at $62.81 on early Wednesday.

Terra, on the other hand, had traded at a low of $61.75 and a high of $67.18 in the previous 24 hours on Tuesday.

Cardano, which had traded hands in the digital market for as low as $0.99 the day before before rising to $1.07, was another notable cryptoasset to take the plunge.

Cardano, on the other hand, fell from its 24-hour high to settle at $1.04, a 4.80% drop at the time of filing this report, indicating a sluggish upward movement in the crypto market.

After the US Federal Reserve announced that it would be selling at higher rates, cryptocurrencies have been battling with investors who prefer US bonds as a safer haven to hedge against inflation.

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