Nigeria’s currency, the Naira, appreciated N880/$1 on Binance, a crypto platform at mid-day Friday.
The figure represented an N118.6 decrease from the N998.6/$1 it traded on Thursday.
The Development seems to have triggered panic selling at the Binance P2P market.
Recall that the Naira gained on Thursday at the Parallel and official foreign markets.
Also report suggested that the Central Bank of Nigeria had commenced clearing forex backlogs to commercial banks, airlines and other entities on Wednesday.
The Development had sent a positive signal to the forex market.
