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The naira weakened further against the US Dollar at multiple rate points on Thursday.
At the Investor & Exporters window, the naira dropped by N0.50 or 0.11% to close at N462/$1 while in the P2P and black markets the domestic currency closed at respective values of N770/$1 and N760/$1 which were lower than previous day’s rates.
Daily turnover at FMDQ Securities Exchange decreased by 22.1 percent to $69.72 million compared to $89.54 million recorded in the previous session.
In addition, President Muhammadu Buhari recently announced that old 200 naira banknotes will still be accepted for 60 days along with new 500 and 1000 naira notes but some state governors disagreed with this stipulation urging banks and businesses to continue using old legal tender.
The cryptocurrency market saw most currencies slide on Thursday with Bitcoin, Ethereum, Solana, Binance Coin, Cardano, Dogecoin, Ripple and Litecoin all recording losses while both USDT & BUSD traded unchanged at a rate of $1 each.
This article was updated 7 months ago
