The value of the naira strengthened by 1.8% against the dollar on Tuesday at the Investors and Exporters window of the forex market.
By the close of trading activities, the naira stood at N756.61/$1 versus the preceding session’s N770.38/$1.
The value of FX transactions recorded yesterday increased by 72.3 per cent or $56.44 million to $134.47 million from the $78.03 million achieved a day earlier.
Also, in the black market, the Naira gained N9 against the Dollar during the session to settle at N760/$1, in contrast to Monday’s exchange rate of N769/$1.
But in the Peer-2-Peer (P2P) segment, the local currency depreciated against the greenback by N4 to quote at N776/$1 versus the previous day’s value of N772/$1.
In the interbank segment of the market, the exchange rate of the Naira to the Pound Sterling and the Euro remained unchanged for another trading session at N746.59/£1 and N641.26/€1 apiece.
As for the cryptocurrency market, Bitcoin (BTC) rose above $28,000 for the first time in two weeks, as its price broke out of a key resistance level on Tuesday. The bullish sentiment continues to make a gradual return, following recent market weakness. Ethereum (ETH) remained over the $1,700 level during the day’s session.
BTC moved up by 5.3 per cent to trade at $28,135.01, ETH made a 3.2 per cent to sell at $1,784.99, Litecoin (LTC) rose by 3.7 per cent to settle at $80.22, and Solana (SOL) grew by 3.3 per cent to $16.42.
