Nigeria’s Naira is currently trading above N1,300 to $1 on the Peer-to-Peer cryptocurrency window on Tuesday.
This is as many traders on the parallel market confirmed that the national currency is trading close to N1,300 in that segment of the market. On the Binance platform, the Naira is currently quoted above N1,300 to $1.
Some Bureau de Change (BDC) Operators said that the quoted value is reflective of market realities. An Abuja Bureau de Change seller at Zone 4, Magaji Muhammed, said the price had increased to N1,300 per dollar, according to Punch.
He said, “Currently, we are selling for N1,300 to $1. We are witnessing more demand and that’s why.”
Another BDC seller, Abubakar Taura, however, noted that he could only sell for N1,280 per dollar.
“I can sell for you at N1,280 to $1 and that is the highest I can go,” Taura said.