Tuesday, 22nd February 2022: The exchange rate between the naira and the US dollar closed at N416/$1 at the official Investors and Exporters (I&E) window.
The exchange rate at the I&E window recorded a 0.16% gain to close at N416/$1 on Tuesday, 22nd February 2022 compared to N416.67/$1 recorded in the previous trading session.
Meanwhile, a total of $138.95 million in FX value was traded on Monday, representing a marginal decline when compared to the $141.31 million that exchanged hands in the previous trading session. This brings the total FX turnover so far for the week to $280.26 million.
Along the same line, the exchange rate appreciated marginally by 0.17% to close at $575/$1 on Tuesday, 22nd February 2022 compared to N576/$1 recorded on Monday, 21st February 2022. This is according to information obtained from BDC operators interviewed by Nairametrics.
The exchange rate at the Peer-to-Peer (P2P) forex market depreciated further by 0.16% to trade at a minimum of N583 to a dollar on Wednesday morning compared to N582.05/$1 recorded on Tuesday, 22nd February 2022.
The exchange rate at the Investors and Exporters window closed at N416/$1 on Tuesday, 22nd February 2022, representing a 0.16% gain compared to N416.67/$1 recorded in the previous trading session.
The opening indicative rate closed at N415.76/$1 on Tuesday. This represents a 14 kobo appreciation compared to the N415.9/$1 recorded on Monday, 21st February 2022.
An exchange rate of N444/$1 was the highest rate recorded during intra-day trading before it settled at N416/$1, while it sold for as low as N406/$1 during intra-day trading,
Meanwhile, forex turnover at the official window dropped marginally by 1.67% to $138.95 million on Tuesday, 22nd February 2022.
According to data tracked by Nairametrics from FMDQ, forex turnover at the I&E window decreased to $138.95 million on Tuesday from $141.31 million recorded on Monday, 21st February 2022.
There was minimal movement in the cryptocurrency market in the early hours of Wednesday morning, as the industry market capitalization gained a marginal $2.07 billion gain to stand at $1.7 trillion, following a positive movement in the previous trading session.
However, bitcoin dipped marginally by 0.65% on Wednesday morning to trade at $37,996.9, while the second most capitalized crypto asset, Ethereum gained 0.95% to trade at $2,663.49.
As of press time, the price of Solana had gained 3.27% to trade at $89.255, Terra gained 2.78% to trade at $46.298, while Uniswap appreciated by 0.68% to trade at $8.92.
Meanwhile, the Russian Ministry of Finance has prepared and submitted a new bill to expand crypto regulations to the government. The law aims to introduce rules for investment in cryptocurrencies while at the same time cementing a ban on their use in payments.
The United Nations (U.N.) has projected that an additional 7 million Nigerians will face hunger…
As Nigerians express their frustrations over the recent fuel price hikes by the Nigerian National…
The Transmission Company of Nigeria (TCN) has announced the full restoration of electricity supply to…
The Naira experienced an appreciation on Friday at the official market, with a trading rate…
President Bola Tinubu, alongside an assembly of prominent dignitaries, paid final respects to the late…
May Edochie, the estranged wife of Nollywood actor Yul Edochie, has addressed misconceptions some men…