You also can click the currency name to view the exchange rates of this currency converting to other currencies. The opening indicative rate was N392.66 to a dollar on Friday. The local currency had strengthened by about 7.8% within one week in September at the black market, as the CBN introduced some measures targeted at exporters and importers. Additional N1million to its price. Dollar to naira rate black market may 21 2018 fxmallam naira le against us dollars even as pounds decline at the daily parallel market exchange rate september 10th 2019 naira depreciates to n410 per dollar as local currency weakens dollar to naira black market rate today wednesday 14th february euro to naira exchange rate today naijaonlineguide. Sell: ₦ 1 = € 0.00175; Buy: ₦ 1 = € 0.00172; Previous Day Comparison. That will be the death of Naira. This represents a 60 kobo gain when compared with the N394.60/$1 that it exchanged for on Thursday, December 9. Data is collated from various black market dealers on the mainland and island parts of Lagos State where forex is sold. Records have it that as of 2013, more than 210 million people worldwide had traded with the Euro currency. However, the gains appear to have been completely erased with the recent crash of the exchange rate. The exchange rate is still being affected by low oil prices, dollar scarcity, a backlog of forex demand, and a shaky economy that has been hit by the coronavirus pandemic. The N408.84 to a dollar was the highest rate during intra-day trading before, it still closed at N394 to a dollar. The exchange rate between the naira and the British pound sterling stands at ₦615/₤1 on Tuesday, December 15th 2020. This represents an N3 gain when compared to the N393.25/$1 that it exchanged for on Thursday, November 26. The N400.37 to a dollar was the highest rate during intra-day trading before, it still closed at N390.25 to a dollar. The Naira appreciated marginally against the dollar, closing at N475/$1 at the parallel market. How Much Is Euro to Naira Exchange Rate Today Black Market 2019 (Latest Update Every Day) Daily update answer: The buy rate = N406 per 1 euro; The sell rate = N 411 per 1 euro Forex turnover dropped by 52.2%, as the Naira’s exchange rate at the NAFEX window appreciated against the dollar to close at N390.25/$1 during intra-day trading on Friday, November 27. The exchange rate between the naira and the US dollar for today (Tuesday, December 15th 2020), stands at ₦470/US$1 in the parallel market. The Naira is the currency used by Nigeria, which is the biggest black nation in Africa. ll 【€1 = ₦459.358】 euro to Nigerian naira rate today. This is to boost the supply of dollars in the foreign exchange market and reduce the high demand for forex by traders, This was the same rate that it exchanged for on Friday, December 10. You’d have to check the site to find out about the current conversion and rates. It is the second largest and second most traded currency after the United States dollar. Also, the Naira appreciated marginally against the dollar, closing at N475/$1 at the parallel market on Friday, December 11, 2020, as the CBN’s intervention continues on a record dollar supply. The depreciation of Naira affects all cost of living and everything that is connected to commerce and no commerce activities. The Euro is the currency used by countries found located in the Eurozone of continent Europe. The symbol of the Euro is € and it has an inflation rate of -0.6%. However, this movement was a wrong one as it depreciated by N2 or 0.43 per cent to settle at N465/$1 in contrast to N463/$1 it … Parallel market: According to information from Abokifx – a prominent FX tracking website, at the black market where forex is traded unofficially, the Naira depreciated against the dollar to close at N500/$1 on Friday. It is very clear that hardship is gripping this nation called Nigeria. The naira has strengthened by 6% to 470 per dollar in the parallel market since Monday, according to abokifx.com, while the spot rate weakened 0.6% to 391.90. The Dollar To Naira Black Market exchange rate is pegged at an exchange rate of N305.5 per $1 had been at what could be described as freefall in the black market. Convert Euro, Pounds, and Dollar to Naira NGN. History of exchange rate: Thursday, 08/10/2020 — Thursday, 15/10/2020. The Naira crashed again to an over 3-year low against the dollar, closing at N500/$1 at the parallel market. Total forex trading at the NAFEX window in the month of September was about $1.98 billion, compared to $843.97 million in August. The average daily forex sale for last week was about $169.93 million, which represents a huge increase from the $34.5 million that was recorded the previous week. The N408.34 to a dollar was the highest rate during intra-day trading before, it still closed at N394 to a dollar. The exchange rate between the naira and the European euro stands at ₦560/€1 on Wednesday November 18th 2020. It also sold for as low as N386/$1 during intra-day trading. This site uses Akismet to reduce spam. The most trusted platform to get the live exchange rates. This makes it -0.04% decline for United States Dollar against Naira this week.. Things are now so expensive that even Toyoya Camry 2010 that used to be N2.5million is now N3.5million. As you go about transacting, let's give you a few hints and fact about Euro. Price for 100 Euro = 45626.2936 Nigerian Naira The worst day for conversion of 100 Euro in Nigerian Naira in last 10 days was the 14/09/2020. This corresponds to 0.21% fall compared to previous day. The symbol for Euro is € and the exchange rate of Euro to Naira in the black market in Lagos today is. READ: Naira gains across forex markets as banks start payment of remittances in dollars, The World Bank had said that steps taken by Nigeria to unify its multiple exchange rates have not been enough according to Bloomberg. See table below for parallel market exchange rate dating to 2019. This is to boost the supply of dollars in the foreign exchange market and reduce the high demand for forex by traders. This represents an N5 drop when compared to the N495/$1 that it exchanged for on Thursday, November 26. It also sold for as low as N385/$1 during intra-day trading. ₦462.61 Live Exchange Rate. Chibuzor Aguwa is an Article Writer, ICT Specialist and an Online Entrepreneur. To keep yourself updated on the daily Euro to Naira exchange rate both in the Nigerian black market and the official Central Bank of Nigeria (CBN) rate you can simply subscribe to this blog and get the information delivered directly to your email. On this page, access daily Naira to Dollar exchange rate for both the parallel market (black market) and the CBN.. READ: CBN Governor discloses why they amended procedures for receipt of diaspora remittances. At the segment of the foreign exchange market on Tuesday, the domestic currency depreciated by N10 against the Our prices are a guide and could be slightly different from the price you get when you eventually decide to buy or sell. The local currency had strengthened by about 7.8% within one week in September at the black market, as the CBN introduced some measures targeted at exporters and importers. Activity: US Dollar stands at ₦470/US$1 in the parallel market, READ ALSO: The risk of buying Forex at black market rate of N460/$1. Parallel market: According to information from Abokifx – a prominent FX tracking website, at the black market where forex is traded unofficially, the Naira appreciated against the dollar to close at N475/$1 on Friday. Some members of MPC of the CBN had expressed serious concerns over the increasing demand pressure in the country’s foreign exchange market. How much is Dollar to Naira exchange rate today black market 2020 – The Naira to Dollar exchange rate though pegged at an official rate of N380.5 per $1 had been at what could be described as freefall in the black market. If your Bureau de exchange rate goes below the sell rate here or above the buy rate here, don’t do the … READ: Max Air, Aero Contractors attribute fare hike to current exchange rate. Top losing exchange rate is Dollar to Naira having a ₦ 1 fall to ₦ 475.00 as of 11/12/2020. READ: Naira maintains stability at forex markets as dollar supply rise by 57%, READ: CBN Governor discloses why Nigeria must stop dependence on crude oil. Published. The black market exchange rate for 1 NGN Nigeria to USD $ is also referred to as the parallel market rate. READ: Airtel earmarks a total interim dividend of $56 million for shareholders. Euro to Nigerian Naira Conversion Last updated: 2020-12-07 20:02 UTC All figures are live mid-market rates, which are not available to consumers and are for informational purposes only. The supply of dollars has been on a decline for months due to low oil prices and the absence of foreign capital inflow into the country. The Euro is the second-largest reserve currency and also the second most traded currency in the world today after the United States Dollar (USD). The CBN is still struggling to clear the backlog of foreign exchange demand, especially by foreign investors wishing to repatriate their funds. Naira: ₦560; ... At the black market, the Naira depreciated against the dollar to close at N475/$1 on Monday. By Adedapo Adesanya The local currency came under pressure against the British Pound Sterling and the Euro at the black market yesterday, causing the Naira to lose value against the two foreign currencies. Converted to. 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